Allianz Asset Management GmbH grew its position in shares of Kforce Inc. (NASDAQ:KFRC) by 4.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 89,509 shares of the business services provider’s stock after purchasing an additional 4,139 shares during the quarter. Allianz Asset Management GmbH owned 0.34% of Kforce worth $2,260,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Macquarie Group Ltd. increased its position in shares of Kforce by 22.2% during the 3rd quarter. Macquarie Group Ltd. now owns 1,387,703 shares of the business services provider’s stock valued at $28,032,000 after purchasing an additional 251,643 shares during the period. State Street Corp increased its position in shares of Kforce by 5.2% during the 2nd quarter. State Street Corp now owns 521,416 shares of the business services provider’s stock valued at $10,221,000 after purchasing an additional 25,748 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Kforce by 3.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 271,429 shares of the business services provider’s stock valued at $6,854,000 after purchasing an additional 9,316 shares during the period. Royce & Associates LP increased its position in shares of Kforce by 9.1% during the 3rd quarter. Royce & Associates LP now owns 248,374 shares of the business services provider’s stock valued at $5,017,000 after purchasing an additional 20,700 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Kforce by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 224,510 shares of the business services provider’s stock valued at $4,535,000 after purchasing an additional 2,948 shares during the period. Institutional investors own 79.72% of the company’s stock.
Kforce Inc. (NASDAQ KFRC) opened at $27.30 on Friday. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $733.97, a price-to-earnings ratio of 20.84 and a beta of 1.58. Kforce Inc. has a 1-year low of $16.75 and a 1-year high of $29.35.
Kforce (NASDAQ:KFRC) last issued its earnings results on Tuesday, February 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.02. The business had revenue of $342.60 million for the quarter, compared to analysts’ expectations of $340.02 million. Kforce had a return on equity of 29.84% and a net margin of 2.45%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 EPS. analysts anticipate that Kforce Inc. will post 2.13 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, March 8th. Kforce’s payout ratio is 36.64%.
Several equities analysts have recently issued reports on the company. Robert W. Baird lifted their price target on Kforce from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Zacks Investment Research upgraded Kforce from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Saturday, February 3rd. BidaskClub cut Kforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 16th. Northcoast Research reiterated a “buy” rating and set a $33.00 price target on shares of Kforce in a research report on Wednesday, February 7th. Finally, ValuEngine upgraded Kforce from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Kforce has an average rating of “Buy” and a consensus target price of $26.80.
In related news, Director Ralph Struzziero sold 1,229 shares of Kforce stock in a transaction on Monday, January 8th. The stock was sold at an average price of $27.05, for a total value of $33,244.45. Following the transaction, the director now directly owns 46,035 shares in the company, valued at approximately $1,245,246.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Kye L. Mitchell sold 15,907 shares of Kforce stock in a transaction on Monday, February 12th. The stock was sold at an average price of $24.65, for a total value of $392,107.55. The disclosure for this sale can be found here. Insiders sold a total of 83,094 shares of company stock worth $2,238,275 over the last 90 days. Insiders own 13.30% of the company’s stock.
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Kforce Company Profile
Kforce Inc (Kforce) is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), Finance and Accounting (FA) and Government Solutions (GS). The Company’s Tech segment includes the operations of its subsidiary Kforce Global Solutions, Inc The FA segment is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others.
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