Kforce, Inc. (NASDAQ:KFRC) Given Consensus Rating of “Hold” by Brokerages
Kforce, Inc. (NASDAQ:KFRC) has been assigned an average rating of “Hold” from the nine research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $23.67.
KFRC has been the topic of a number of research reports. Zacks Investment Research lowered shares of Kforce from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. BidaskClub lowered shares of Kforce from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. TheStreet lowered shares of Kforce from a “b-” rating to a “c+” rating in a research report on Wednesday, May 31st. Finally, ValuEngine raised shares of Kforce from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th.
In related news, COO Kye L. Mitchell sold 8,838 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $20.68, for a total value of $182,769.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David L. Dunkel sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $21.00, for a total transaction of $42,000.00. The disclosure for this sale can be found here. Insiders have sold 18,838 shares of company stock worth $371,330 over the last ninety days. Insiders own 13.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in Kforce by 2.9% in the fourth quarter. State Street Corp now owns 488,886 shares of the business services provider’s stock valued at $11,293,000 after buying an additional 13,643 shares during the period. Dimensional Fund Advisors LP increased its position in Kforce by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,300,018 shares of the business services provider’s stock valued at $30,030,000 after buying an additional 57,552 shares during the period. Envestnet Asset Management Inc. increased its position in Kforce by 1.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 15,905 shares of the business services provider’s stock valued at $367,000 after buying an additional 154 shares during the period. Two Sigma Investments LP acquired a new position in Kforce during the fourth quarter valued at approximately $356,000. Finally, Metropolitan Life Insurance Co. NY increased its position in Kforce by 4.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,684 shares of the business services provider’s stock valued at $432,000 after buying an additional 856 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.
Shares of Kforce (NASDAQ KFRC) traded down 1.53% during midday trading on Friday, hitting $19.35. 24,851 shares of the company traded hands. Kforce has a 12-month low of $15.95 and a 12-month high of $26.95. The stock has a market capitalization of $488.26 million, a P/E ratio of 14.37 and a beta of 1.55. The stock’s 50-day moving average is $18.93 and its 200 day moving average is $21.71.
The company also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, June 9th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Wednesday, June 7th. Kforce’s dividend payout ratio (DPR) is currently 35.82%.
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Kforce Inc (Kforce) is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), Finance and Accounting (FA) and Government Solutions (GS). The Company’s Tech segment includes the operations of its subsidiary Kforce Global Solutions, Inc The FA segment is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others.
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