Kforce Inc. (KFRC) Upgraded by Zacks Investment Research to Hold
Kforce Inc. (NASDAQ:KFRC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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). “
KFRC has been the topic of a number of other reports. Deutsche Bank AG started coverage on Kforce in a research report on Wednesday, August 17th. They set a “hold” rating and a $19.00 target price on the stock. Credit Suisse Group AG reaffirmed a “buy” rating and set a $21.00 target price on shares of Kforce in a research report on Wednesday, August 3rd.
Shares of Kforce (NASDAQ:KFRC) opened at 20.49 on Wednesday. The stock has a 50 day moving average price of $19.26 and a 200 day moving average price of $18.65. Kforce has a 12-month low of $14.87 and a 12-month high of $28.84. The firm has a market capitalization of $536.72 million, a PE ratio of 13.92 and a beta of 1.56.
Kforce (NASDAQ:KFRC) last announced its earnings results on Tuesday, August 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 analyst estimates of $334.91 million. During the same period in the previous year, the company earned $0.41 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Analysts predict that Kforce will post $1.48 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Wednesday, September 7th. Kforce’s dividend payout ratio is currently 32.88%.
In other news, COO Kye L. Mitchell sold 3,732 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $19.82, for a total transaction of $73,968.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gordon Tunstall sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $18.69, for a total value of $93,450.00. The disclosure for this sale can be found here. 12.80% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. increased its position in shares of Kforce by 57.9% in the first quarter. Prudential Financial Inc. now owns 172,880 shares of the company’s stock valued at $3,385,000 after buying an additional 63,425 shares in the last quarter. Royce & Associates LP increased its position in shares of Kforce by 67.1% in the first quarter. Royce & Associates LP now owns 424,474 shares of the company’s stock valued at $8,311,000 after buying an additional 170,500 shares in the last quarter. Spark Investment Management LLC increased its position in shares of Kforce by 50.9% in the first quarter. Spark Investment Management LLC now owns 60,500 shares of the company’s stock valued at $1,184,000 after buying an additional 20,400 shares in the last quarter. Menta Capital LLC increased its position in shares of Kforce by 83.7% in the first quarter. Menta Capital LLC now owns 24,036 shares of the company’s stock valued at $471,000 after buying an additional 10,950 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Kforce by 23.8% in the second quarter. Bank of New York Mellon Corp now owns 213,520 shares of the company’s stock valued at $3,606,000 after buying an additional 41,055 shares in the last quarter. 80.63% of the stock is owned by institutional investors.
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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