Kforce Inc. (KFRC) Position Boosted by Tributary Capital Management LLC
Tributary Capital Management LLC boosted its position in shares of Kforce Inc. (NASDAQ:KFRC) by 24.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 620,837 shares of the business services provider’s stock after buying an additional 120,989 shares during the period. Kforce accounts for about 1.4% of Tributary Capital Management LLC’s investment portfolio, making the stock its 24th largest position. Tributary Capital Management LLC owned 2.47% of Kforce worth $14,745,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Old Mutual Global Investors UK Ltd. purchased a new stake in Kforce during the first quarter worth $100,000. Dubuque Bank & Trust Co. purchased a new stake in Kforce during the first quarter worth $226,000. BlackRock Inc. raised its stake in Kforce by 25.1% in the third quarter. BlackRock Inc. now owns 11,391 shares of the business services provider’s stock worth $233,000 after buying an additional 2,282 shares during the last quarter. TFS Capital LLC raised its stake in Kforce by 13.8% in the first quarter. TFS Capital LLC now owns 10,964 shares of the business services provider’s stock worth $260,000 after buying an additional 1,331 shares during the last quarter. Finally, Numeric Investors LLC raised its stake in Kforce by 24.3% in the fourth quarter. Numeric Investors LLC now owns 12,800 shares of the business services provider’s stock worth $296,000 after buying an additional 2,500 shares during the last quarter. 82.39% of the stock is owned by institutional investors and hedge funds.
Shares of Kforce Inc. (NASDAQ:KFRC) opened at 18.65 on Thursday. The firm has a market capitalization of $470.60 million, a price-to-earnings ratio of 13.85 and a beta of 1.52. Kforce Inc. has a 12-month low of $15.78 and a 12-month high of $26.95. The company’s 50-day moving average is $21.06 and its 200-day moving average is $22.47.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Friday, June 9th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Wednesday, June 7th. Kforce’s dividend payout ratio is 38.40%.
A number of equities research analysts recently weighed in on KFRC shares. Zacks Investment Research raised shares of Kforce from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, February 9th. Griffin Securities lowered shares of Kforce from a “buy” rating to a “hold” rating in a report on Wednesday, February 8th. Credit Suisse Group AG lowered shares of Kforce from an “outperform” rating to a “neutral” rating and set a $25.00 price target for the company. in a report on Friday, February 24th. They noted that the move was a valuation call. William Blair reaffirmed an “outperform” rating on shares of Kforce in a report on Friday, February 24th. Finally, Avondale Partners raised shares of Kforce from a “market perform” rating to an “outperform” rating and set a $27.00 price target for the company in a report on Wednesday, February 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $24.50.
In other news, CEO David L. Dunkel sold 2,000 shares of Kforce stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $21.00, for a total value of $42,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Kye L. Mitchell sold 8,838 shares of Kforce stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $20.68, for a total transaction of $182,769.84. The disclosure for this sale can be found here. In the last three months, insiders sold 30,888 shares of company stock worth $719,763. Insiders own 12.80% of the company’s stock.
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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