Goldman Sachs Group Inc. Sells 12,859 Shares of Kforce, Inc. (KFRC)
Goldman Sachs Group Inc. reduced its stake in shares of Kforce, Inc. (NASDAQ:KFRC) by 51.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 12,259 shares of the business services provider’s stock after selling 12,859 shares during the period. Goldman Sachs Group Inc.’s holdings in Kforce were worth $240,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Numeric Investors LLC increased its holdings in Kforce by 66.1% during the 2nd quarter. Numeric Investors LLC now owns 28,400 shares of the business services provider’s stock worth $557,000 after purchasing an additional 11,300 shares in the last quarter. Brandywine Global Investment Management LLC increased its holdings in Kforce by 7.3% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 14,376 shares of the business services provider’s stock worth $282,000 after purchasing an additional 976 shares in the last quarter. Voya Investment Management LLC increased its holdings in Kforce by 13.4% during the 2nd quarter. Voya Investment Management LLC now owns 13,979 shares of the business services provider’s stock worth $274,000 after purchasing an additional 1,653 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Kforce by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,435,611 shares of the business services provider’s stock worth $28,138,000 after purchasing an additional 60,783 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in Kforce during the 2nd quarter worth approximately $3,435,000. 79.73% of the stock is owned by hedge funds and other institutional investors.
KFRC has been the topic of a number of research analyst reports. TheStreet upgraded Kforce from a “c+” rating to a “b” rating in a research note on Monday, October 2nd. Northcoast Research upgraded Kforce from a “neutral” rating to a “buy” rating in a research note on Monday, November 6th. Robert W. Baird restated a “buy” rating and issued a $25.00 target price on shares of Kforce in a research note on Friday, November 3rd. ValuEngine upgraded Kforce from a “hold” rating to a “buy” rating in a research note on Friday, October 27th. Finally, SunTrust Banks, Inc. downgraded Kforce from a “buy” rating to a “hold” rating and cut their target price for the stock from $23.00 to $22.00 in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $24.20.
In related news, insider Kye L. Mitchell sold 2,550 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $24.35, for a total value of $62,092.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director N John Simmons sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $23.31, for a total value of $116,550.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,250 shares of company stock worth $1,070,388. 13.30% of the stock is owned by company insiders.
Kforce, Inc. (NASDAQ KFRC) opened at $25.50 on Monday. Kforce, Inc. has a 12 month low of $16.75 and a 12 month high of $26.95. The firm has a market capitalization of $674.91, a P/E ratio of 17.23 and a beta of 1.57. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.91.
Kforce (NASDAQ:KFRC) last announced its earnings results on Tuesday, October 31st. The business services provider reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. Kforce had a return on equity of 28.83% and a net margin of 2.71%. The firm had revenue of $341.05 million for the quarter, compared to the consensus estimate of $340.67 million. During the same quarter in the previous year, the business earned $0.44 EPS. The company’s revenue was up .2% compared to the same quarter last year. research analysts forecast that Kforce, Inc. will post 1.5 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be paid a $0.12 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.48 annualized dividend and a yield of 1.88%. Kforce’s payout ratio is 33.57%.
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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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