Kforce (NASDAQ:KFRC) Shares Up 4.2% Following Dividend Announcement

Shares of Kforce Inc. (NASDAQ:KFRC) shot up 4.2% during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as $39.39 and last traded at $38.13. 25,939 shares changed hands during trading, a decline of 81% from the average session volume of 139,155 shares. The stock had previously closed at $36.59.

The newly announced dividend which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Friday, June 13th. Kforce’s dividend payout ratio (DPR) is 61.18%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Truist Financial dropped their target price on Kforce from $58.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, April 15th. UBS Group decreased their target price on Kforce from $47.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday.

Kforce Price Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 2.06. The stock’s fifty day moving average is $47.07 and its 200-day moving average is $53.26. The stock has a market cap of $734.57 million, a PE ratio of 14.34 and a beta of 0.76.

Kforce (NASDAQ:KFRC) last posted its earnings results on Monday, April 28th. The business services provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). Kforce had a net margin of 3.59% and a return on equity of 30.34%. The company had revenue of $330.03 million during the quarter, compared to analyst estimates of $334.61 million. During the same period in the previous year, the company earned $0.58 EPS. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that Kforce Inc. will post 2.7 EPS for the current year.

Institutional Trading of Kforce

Several hedge funds have recently made changes to their positions in KFRC. Atria Investments Inc raised its holdings in Kforce by 3.1% in the fourth quarter. Atria Investments Inc now owns 7,058 shares of the business services provider’s stock valued at $400,000 after acquiring an additional 209 shares in the last quarter. Access Investment Management LLC increased its stake in Kforce by 0.7% in the fourth quarter. Access Investment Management LLC now owns 36,605 shares of the business services provider’s stock valued at $2,076,000 after purchasing an additional 265 shares during the last quarter. Blue Trust Inc. increased its stake in Kforce by 17.9% in the fourth quarter. Blue Trust Inc. now owns 1,810 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 275 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of Kforce by 6.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,154 shares of the business services provider’s stock worth $292,000 after acquiring an additional 293 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Kforce by 2.9% during the fourth quarter. MetLife Investment Management LLC now owns 11,189 shares of the business services provider’s stock worth $634,000 after acquiring an additional 312 shares during the last quarter. Institutional investors and hedge funds own 92.77% of the company’s stock.

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.