Kforce, Inc. (KFRC) Shares Bought by JPMorgan Chase & Co.
JPMorgan Chase & Co. increased its stake in Kforce, Inc. (NASDAQ:KFRC) by 109.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 204,768 shares of the business services provider’s stock after purchasing an additional 106,810 shares during the period. JPMorgan Chase & Co. owned approximately 0.80% of Kforce worth $4,014,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position 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 worth $48,288,000 after purchasing an additional 73,820 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Kforce by 5.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,374,828 shares of the business services provider’s stock worth $32,652,000 after purchasing an additional 74,810 shares during the last quarter. Investment Counselors of Maryland LLC increased its position in shares of Kforce by 27.8% in the second quarter. Investment Counselors of Maryland LLC now owns 1,004,771 shares of the business services provider’s stock worth $19,694,000 after purchasing an additional 218,650 shares during the last quarter. Tributary Capital Management LLC increased its position in shares of Kforce by 25.2% in the second quarter. Tributary Capital Management LLC now owns 777,037 shares of the business services provider’s stock worth $15,230,000 after purchasing an additional 156,200 shares during the last quarter. Finally, Deprince Race & Zollo Inc. increased its position in shares of Kforce by 28.1% in the second quarter. Deprince Race & Zollo Inc. now owns 715,659 shares of the business services provider’s stock worth $14,027,000 after purchasing an additional 157,134 shares during the last quarter. Institutional investors own 78.42% of the company’s stock.
In other Kforce news, COO Kye L. Mitchell sold 5,000 shares of Kforce stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $17.99, for a total value of $89,950.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 13.30% of the company’s stock.
Several research firms recently weighed in on KFRC. Robert W. Baird restated a “buy” rating and issued a $20.00 price objective on shares of Kforce in a research report on Tuesday, September 12th. BidaskClub cut shares of Kforce from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. TheStreet upgraded shares of Kforce from a “c+” rating to a “b” rating in a research report on Monday, October 2nd. Zacks Investment Research cut shares of Kforce from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Finally, Deutsche Bank AG decreased their price objective on shares of Kforce from $25.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $23.50.
Shares of Kforce, Inc. (KFRC) opened at 20.50 on Monday. Kforce, Inc. has a 52 week low of $15.95 and a 52 week high of $26.95. The stock has a market cap of $518.44 million, a price-to-earnings ratio of 14.94 and a beta of 1.58. The firm has a 50-day moving average price of $18.66 and a 200 day moving average price of $19.64.
Kforce (NASDAQ:KFRC) last released its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.02). Kforce had a return on equity of 29.67% and a net margin of 2.64%. The firm had revenue of $340.31 million during the quarter, compared to the consensus estimate of $345.24 million. During the same period in the previous year, the firm earned $0.41 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. On average, analysts forecast that Kforce, Inc. will post $1.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, September 7th. Kforce’s payout ratio is 35.04%.
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Kforce Company Profile
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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