Janney Montgomery Scott LLC Has $2.08 Million Stake in Kforce Inc. (NASDAQ:KFRC)

Janney Montgomery Scott LLC increased its position in shares of Kforce Inc. (NASDAQ:KFRC) by 2.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,815 shares of the business services provider’s stock after acquiring an additional 821 shares during the period. Janney Montgomery Scott LLC owned about 0.17% of Kforce worth $2,078,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of KFRC. Blue Trust Inc. lifted its stake in shares of Kforce by 59.9% in the second quarter. Blue Trust Inc. now owns 427 shares of the business services provider’s stock worth $27,000 after acquiring an additional 160 shares during the period. Kathleen S. Wright Associates Inc. bought a new position in Kforce during the 3rd quarter worth approximately $30,000. nVerses Capital LLC lifted its position in shares of Kforce by 50.0% in the 2nd quarter. nVerses Capital LLC now owns 900 shares of the business services provider’s stock worth $56,000 after purchasing an additional 300 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Kforce in the 2nd quarter valued at $68,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Kforce by 96.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,313 shares of the business services provider’s stock worth $82,000 after buying an additional 643 shares during the period. Institutional investors and hedge funds own 92.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on KFRC shares. Sidoti raised Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Tuesday, October 15th. Truist Financial cut their price target on Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a report on Tuesday, October 29th. Finally, StockNews.com lowered shares of Kforce from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Kforce has a consensus rating of “Moderate Buy” and an average target price of $66.67.

Kforce Stock Down 1.2 %

KFRC stock opened at $61.19 on Wednesday. Kforce Inc. has a 1-year low of $52.96 and a 1-year high of $74.79. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 21.10 and a beta of 0.88. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $59.26 and its 200 day moving average is $62.07.

Kforce (NASDAQ:KFRC) last released its earnings results on Monday, October 28th. The business services provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. Kforce had a return on equity of 33.50% and a net margin of 3.86%. The company had revenue of $353.30 million during the quarter, compared to the consensus estimate of $352.19 million. During the same quarter in the previous year, the company posted $0.90 EPS. Kforce’s quarterly revenue was down 5.3% compared to the same quarter last year. Sell-side analysts predict that Kforce Inc. will post 2.68 EPS for the current fiscal year.

Kforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Friday, December 6th. Kforce’s payout ratio is 52.41%.

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.