Annex Advisory Services LLC Raises Holdings in Kforce Inc. (NASDAQ:KFRC)

Annex Advisory Services LLC grew its position in shares of Kforce Inc. (NASDAQ:KFRC) by 7.9% during the first quarter, Holdings Channel reports. The institutional investor owned 7,846 shares of the business services provider’s stock after purchasing an additional 572 shares during the quarter. Annex Advisory Services LLC’s holdings in Kforce were worth $553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. SRS Capital Advisors Inc. lifted its position in shares of Kforce by 420.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 448 shares of the business services provider’s stock valued at $30,000 after buying an additional 362 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Kforce during the 4th quarter valued at $207,000. Heritage Wealth Management LLC purchased a new stake in Kforce during the 4th quarter worth about $243,000. Personal CFO Solutions LLC purchased a new stake in Kforce during the 3rd quarter worth about $218,000. Finally, Kingswood Wealth Advisors LLC purchased a new stake in Kforce during the 4th quarter worth about $251,000. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Kforce Stock Performance

Shares of KFRC opened at $62.43 on Wednesday. The stock’s 50-day simple moving average is $62.68 and its 200 day simple moving average is $66.26. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 19.11 and a beta of 0.88. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.32 and a current ratio of 2.32. Kforce Inc. has a 52-week low of $53.75 and a 52-week high of $74.79.

Kforce (NASDAQ:KFRC) last released its quarterly earnings results on Monday, April 29th. The business services provider reported $0.58 earnings per share for the quarter, meeting the consensus estimate of $0.58. Kforce had a return on equity of 36.39% and a net margin of 3.78%. The firm had revenue of $351.89 million for the quarter, compared to analysts’ expectations of $354.92 million. During the same quarter last year, the firm posted $0.82 EPS. The company’s revenue was down 13.3% compared to the same quarter last year. Research analysts forecast that Kforce Inc. will post 2.82 EPS for the current fiscal year.

Kforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.43%. Kforce’s payout ratio is currently 52.60%.

Analysts Set New Price Targets

Separately, Robert W. Baird dropped their price objective on Kforce from $72.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, April 30th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kforce presently has a consensus rating of “Hold” and an average target price of $68.00.

Insider Buying and Selling at Kforce

In other Kforce news, Director Mark F. Furlong sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $61.70, for a total value of $308,500.00. Following the sale, the director now owns 26,297 shares of the company’s stock, valued at approximately $1,622,524.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Kforce news, Director Mark F. Furlong sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $61.70, for a total value of $308,500.00. Following the sale, the director now owns 26,297 shares of the company’s stock, valued at approximately $1,622,524.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew G. Thomas sold 4,801 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $61.43, for a total value of $294,925.43. Following the transaction, the insider now owns 94,095 shares in the company, valued at $5,780,255.85. The disclosure for this sale can be found here. Insiders have sold a total of 16,439 shares of company stock valued at $1,015,114 in the last 90 days. Corporate insiders own 5.30% of the company’s stock.

Kforce Profile

Kforce Inc provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security.