Intech Investment Management LLC Acquires Shares of 4,912 Kforce Inc. (NASDAQ:KFRC)

Intech Investment Management LLC acquired a new stake in Kforce Inc. (NASDAQ:KFRC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,912 shares of the business services provider’s stock, valued at approximately $302,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of Kforce by 59.9% during the 2nd quarter. Blue Trust Inc. now owns 427 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 160 shares during the period. Azzad Asset Management Inc. ADV grew its position in shares of Kforce by 1.5% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 13,189 shares of the business services provider’s stock valued at $810,000 after acquiring an additional 192 shares during the period. SummerHaven Investment Management LLC grew its position in shares of Kforce by 2.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 12,107 shares of the business services provider’s stock valued at $752,000 after acquiring an additional 247 shares during the period. nVerses Capital LLC grew its position in shares of Kforce by 50.0% during the 2nd quarter. nVerses Capital LLC now owns 900 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 300 shares during the period. Finally, Access Investment Management LLC grew its position in shares of Kforce by 0.8% during the 2nd quarter. Access Investment Management LLC now owns 36,275 shares of the business services provider’s stock valued at $2,254,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on KFRC shares. Sidoti raised shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Tuesday, October 15th. StockNews.com raised shares of Kforce from a “hold” rating to a “buy” rating in a report on Saturday, November 30th. Finally, Truist Financial cut their price objective on shares of Kforce from $68.00 to $58.00 and set a “hold” rating for the company in a report on Tuesday, October 29th.

Kforce Trading Up 0.9 %

Shares of KFRC opened at $61.65 on Thursday. The firm’s 50-day moving average price is $58.32 and its 200-day moving average price is $61.59. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 21.26 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. Kforce Inc. has a 1-year low of $52.96 and a 1-year high of $74.79.

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

Kforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Friday, December 6th. Kforce’s dividend payout ratio is presently 52.41%.

About Kforce

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.