Federated Hermes Inc. Sells 7,845 Shares of Kforce Inc. (NASDAQ:KFRC)

Federated Hermes Inc. trimmed its position in shares of Kforce Inc. (NASDAQ:KFRC) by 22.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,654 shares of the business services provider’s stock after selling 7,845 shares during the quarter. Federated Hermes Inc. owned 0.14% of Kforce worth $1,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. First Horizon Advisors Inc. lifted its holdings in shares of Kforce by 22.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,207 shares of the business services provider’s stock valued at $72,000 after buying an additional 224 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of Kforce by 3.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,822 shares of the business services provider’s stock valued at $467,000 after buying an additional 255 shares during the period. Oak Associates Ltd. OH lifted its holdings in shares of Kforce by 2.3% during the 3rd quarter. Oak Associates Ltd. OH now owns 15,255 shares of the business services provider’s stock valued at $910,000 after buying an additional 340 shares during the period. Swiss National Bank lifted its holdings in shares of Kforce by 1.0% during the 3rd quarter. Swiss National Bank now owns 42,500 shares of the business services provider’s stock valued at $2,536,000 after buying an additional 400 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Kforce by 7.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,556 shares of the business services provider’s stock valued at $391,000 after buying an additional 430 shares during the period. 92.77% of the stock is owned by institutional investors.

Kforce Price Performance

NASDAQ:KFRC opened at $64.13 on Monday. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.26. The business’s 50-day simple moving average is $68.19 and its two-hundred day simple moving average is $66.45. The stock has a market cap of $1.25 billion, a PE ratio of 20.49 and a beta of 0.85. Kforce Inc. has a 52 week low of $50.89 and a 52 week high of $74.79.

Kforce (NASDAQ:KFRC) last posted its quarterly earnings results on Monday, February 5th. The business services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. The business had revenue of $363.45 million for the quarter, compared to analysts’ expectations of $363.29 million. Kforce had a return on equity of 38.24% and a net margin of 3.99%. The business’s quarterly revenue was down 13.4% on a year-over-year basis. During the same period last year, the firm earned $0.93 earnings per share. As a group, analysts forecast that Kforce Inc. will post 3.02 EPS for the current fiscal year.

Kforce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.38 per share. This is a positive change from Kforce’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, March 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.37%. Kforce’s dividend payout ratio (DPR) is presently 48.56%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KFRC. Robert W. Baird raised their target price on Kforce from $62.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Truist Financial raised their target price on Kforce from $57.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Finally, StockNews.com cut Kforce from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $68.33.

Kforce Company 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.