Kforce Inc. (KFRC) Stock Rating Upgraded by Zacks Investment Research
Kforce Inc. (NASDAQ:KFRC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “kforce.com is a full-service, web-based specialty staffing firm providing flexible and permanent staffing solutions for organizations and career management for individuals in the specialty skill areas of information technology, finance & accounting, human resources, engineering, pharmaceutical, health care, legal, e-solutions consulting, scientific and insurance and investments. kforce.com offers web-based services including online resumes and job postings, interactive interviews and job placements and career management strategies (company press release). “
A number of other research firms also recently weighed in on KFRC. Deutsche Bank AG began coverage on Kforce in a report on Wednesday, August 17th. They set a “hold” rating and a $19.00 price objective on the stock. Credit Suisse Group AG reaffirmed a “buy” rating and set a $21.00 price objective on shares of Kforce in a report on Wednesday, August 3rd.
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Shares of Kforce (NASDAQ:KFRC) traded down 1.33% during trading on Wednesday, reaching $20.01. The company’s stock had a trading volume of 108,250 shares. The company’s 50-day moving average is $19.42 and its 200-day moving average is $18.68. The company has a market capitalization of $524.14 million, a P/E ratio of 13.59 and a beta of 1.56. Kforce has a 12 month low of $14.87 and a 12 month high of $28.84.
Kforce (NASDAQ:KFRC) last released its earnings results on Tuesday, August 2nd. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. Kforce had a return on equity of 31.94% and a net margin of 3.01%. The business had revenue of $335 million for the quarter, compared to the consensus estimate of $334.91 million. During the same period last year, the business earned $0.41 earnings per share. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts forecast that Kforce will post $1.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Wednesday, September 7th. Kforce’s dividend payout ratio (DPR) is currently 32.88%.
In other news, President Joseph J. Liberatore sold 75,000 shares of Kforce stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $18.19, for a total value of $1,364,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kye L. Mitchell sold 3,732 shares of Kforce stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $19.82, for a total transaction of $73,968.24. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC purchased a new position in Kforce during the first quarter worth about $104,000. First Mercantile Trust Co. boosted its position in Kforce by 6.8% in the second quarter. First Mercantile Trust Co. now owns 6,760 shares of the company’s stock worth $114,000 after buying an additional 430 shares during the period. Rational Advisors LLC purchased a new position in Kforce during the second quarter worth about $118,000. O Shaughnessy Asset Management LLC boosted its position in Kforce by 620.0% in the second quarter. O Shaughnessy Asset Management LLC now owns 7,488 shares of the company’s stock worth $126,000 after buying an additional 6,448 shares during the period. Finally, BlackRock Inc. boosted its position in Kforce by 506.5% in the second quarter. BlackRock Inc. now owns 9,109 shares of the company’s stock worth $153,000 after buying an additional 7,607 shares during the period. Institutional investors own 80.63% of the company’s stock.
Kforce Company Profile
Kforce Inc is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), which provides both temporary staffing and permanent placement services to its clients, focusing primarily on areas of information technology, such as systems/applications, e-commerce, technology infrastructure, network architecture and security; Finance and Accounting (FA), which is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others, and Government Solutions (GS), which is engaged in providing services and solutions to the Federal Government as both a prime contractor and a subcontractor in the fields of information technology, and finance and accounting.
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