Engineers Gate Manager LP reduced its position in shares of Kforce Inc. (NASDAQ:KFRC) by 9.6% during the third quarter, HoldingsChannel reports. The firm owned 30,168 shares of the business services provider’s stock after selling 3,202 shares during the quarter. Engineers Gate Manager LP’s holdings in Kforce were worth $1,134,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of KFRC. BlackRock Inc. lifted its position in shares of Kforce by 29.4% during the second quarter. BlackRock Inc. now owns 2,070,717 shares of the business services provider’s stock worth $71,027,000 after purchasing an additional 471,012 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Kforce during the second quarter worth $6,867,000. Acadian Asset Management LLC lifted its position in shares of Kforce by 80.2% during the second quarter. Acadian Asset Management LLC now owns 352,976 shares of the business services provider’s stock worth $12,106,000 after purchasing an additional 157,123 shares in the last quarter. Royce & Associates LP lifted its position in shares of Kforce by 32.4% during the second quarter. Royce & Associates LP now owns 637,636 shares of the business services provider’s stock worth $21,871,000 after purchasing an additional 156,117 shares in the last quarter. Finally, American Century Companies Inc. acquired a new position in shares of Kforce during the second quarter worth $4,098,000. 79.34% of the stock is currently owned by institutional investors and hedge funds.
KFRC has been the topic of several recent analyst reports. ValuEngine cut shares of Kforce from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. SunTrust Banks upped their price target on shares of Kforce to $44.00 and gave the company a “hold” rating in a report on Thursday, August 2nd. BidaskClub raised shares of Kforce from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. Credit Suisse Group initiated coverage on shares of Kforce in a report on Friday, August 10th. They issued a “neutral” rating and a $38.00 price target on the stock. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $45.00 price target on shares of Kforce in a report on Thursday, August 2nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $41.40.
Kforce (NASDAQ:KFRC) last released its quarterly earnings results on Wednesday, October 31st. The business services provider reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $355.45 million for the quarter, compared to the consensus estimate of $356.89 million. Kforce had a return on equity of 36.45% and a net margin of 3.40%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 EPS. Equities research analysts predict that Kforce Inc. will post 2.21 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.72 annualized dividend and a dividend yield of 2.30%. Kforce’s dividend payout ratio is currently 45.86%.
In other news, Director John Allred sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $42.95, for a total transaction of $42,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David M. Kelly sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $32.66, for a total transaction of $65,320.00. The disclosure for this sale can be found here. Insiders have sold 91,071 shares of company stock valued at $3,727,333 in the last 90 days. Insiders own 13.30% of the company’s stock.
Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS) segments. The Tech segment provides temporary staffing and permanent placement services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, project management, enterprise data management, business intelligence, artificial intelligence, machine learning, network architecture, and security.
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