Kforce (NASDAQ:KFRC) Research Coverage Started at StockNews.com

Posted by Paula Ricardo on Mar 19th, 2023

StockNews.com assumed coverage on shares of Kforce (NASDAQ:KFRC – Get Rating) in a research report released on Thursday morning. The brokerage issued a buy rating on the business services provider’s stock.

Separately, William Blair lowered Kforce from an outperform rating to a market perform rating in a report on Friday, November 25th.

Kforce Price Performance

Shares of KFRC traded down $1.10 during trading hours on Thursday, hitting $61.28. 770,062 shares of the company were exchanged, compared to its average volume of 210,257. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 16.70 and a beta of 0.92. Kforce has a fifty-two week low of $49.35 and a fifty-two week high of $78.15. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The firm’s fifty day moving average is $59.27 and its 200 day moving average is $58.27.

Kforce (NASDAQ:KFRC – Get Rating) last released its earnings results on Monday, February 6th. The business services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.01. The company had revenue of $419.66 million for the quarter, compared to analyst estimates of $418.51 million. Kforce had a return on equity of 43.52% and a net margin of 4.41%. Kforce’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 EPS. On average, equities analysts anticipate that Kforce will post 3.56 earnings per share for the current fiscal year.

Kforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be paid a $0.36 dividend. The ex-dividend date is Thursday, March 9th. This is a positive change from Kforce’s previous quarterly dividend of $0.30. This represents a $1.44 annualized dividend and a yield of 2.35%. Kforce’s dividend payout ratio (DPR) is 39.24%.

Insider Activity at Kforce

In related news, CMO Andrew G. Thomas sold 20,000 shares of the firm’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $61.83, for a total value of $1,236,600.00. Following the sale, the chief marketing officer now directly owns 91,459 shares of the company’s stock, valued at $5,654,909.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kforce

Several large investors have recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in Kforce by 132.0% in the fourth quarter. Victory Capital Management Inc. now owns 151,065 shares of the business services provider’s stock valued at $8,283,000 after purchasing an additional 85,963 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new position in Kforce in the fourth quarter valued at about $56,000. Point72 Middle East FZE bought a new position in Kforce in the fourth quarter valued at about $59,000. Resurgent Financial Advisors LLC raised its position in Kforce by 6.1% in the fourth quarter. Resurgent Financial Advisors LLC now owns 4,144 shares of the business services provider’s stock valued at $227,000 after purchasing an additional 240 shares during the last quarter. Finally, Vestcor Inc bought a new position in Kforce in the fourth quarter valued at about $127,000. 88.09% of the stock is currently owned by institutional investors.

Kforce Company Profile

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Kforce, Inc engages in the provision of professional and technical staffing services and solutions. It operates through the Technology and Finance and Accounting (FA) segments. The Technology segment offers services on areas of information technology such as systems and applications architecture and development, data management, business and artificial intelligence, machine learning, and network architecture and security.