Kforce, Inc. (KFRC) Stake Decreased by Prudential Financial Inc.
Prudential Financial Inc. cut its position in shares of Kforce, Inc. (NASDAQ:KFRC) by 22.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,819 shares of the business services provider’s stock after selling 28,800 shares during the quarter. Prudential Financial Inc. owned about 0.40% of Kforce worth $2,056,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Kforce by 3.8% in the first quarter. Vanguard Group Inc. now owns 2,033,200 shares of the business services provider’s stock valued at $48,288,000 after buying an additional 73,820 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Kforce by 11.8% in the first quarter. Geode Capital Management LLC now owns 269,261 shares of the business services provider’s stock valued at $6,394,000 after buying an additional 28,482 shares in the last quarter. Morgan Stanley lifted its stake in shares of Kforce by 1.3% in the first quarter. Morgan Stanley now owns 154,990 shares of the business services provider’s stock valued at $3,681,000 after buying an additional 1,949 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Kforce by 10.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 220,836 shares of the business services provider’s stock valued at $5,245,000 after buying an additional 20,177 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Kforce by 28.8% in the first quarter. Bank of America Corp DE now owns 50,955 shares of the business services provider’s stock valued at $1,210,000 after buying an additional 11,387 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of Kforce, Inc. (NASDAQ KFRC) opened at $25.95 on Wednesday. Kforce, Inc. has a 1-year low of $16.75 and a 1-year high of $26.95. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.91. The stock has a market cap of $666.97, a PE ratio of 17.03 and a beta of 1.67.
Kforce (NASDAQ:KFRC) last posted its quarterly earnings data on Tuesday, October 31st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. Kforce had a net margin of 2.71% and a return on equity of 28.83%. The business had revenue of $341.05 million during the quarter, compared to the consensus estimate of $340.67 million. During the same quarter last year, the company posted $0.44 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. analysts forecast that Kforce, Inc. will post 1.5 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.85%. Kforce’s payout ratio is 33.57%.
In other news, Director N John Simmons sold 5,000 shares of Kforce stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $23.31, for a total value of $116,550.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kye L. Mitchell sold 2,550 shares of Kforce stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $24.35, for a total transaction of $62,092.50. The disclosure for this sale can be found here. Insiders sold 46,250 shares of company stock valued at $1,070,388 in the last quarter. Corporate insiders own 13.30% of the company’s stock.
A number of research analysts have weighed in on KFRC shares. Zacks Investment Research lowered shares of Kforce from a “hold” rating to a “sell” rating in a research note on Saturday, October 28th. TheStreet upgraded shares of Kforce from a “c+” rating to a “b” rating in a report on Monday, October 2nd. ValuEngine downgraded shares of Kforce from a “buy” rating to a “hold” rating in a report on Friday, September 1st. SunTrust Banks downgraded shares of Kforce from a “buy” rating to a “hold” rating and lowered their target price for the company from $23.00 to $22.00 in a report on Wednesday, October 11th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $20.00 target price on shares of Kforce in a report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $24.20.
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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