Vestcor Inc Grows Stake in Kforce Inc. (NASDAQ:KFRC)

Vestcor Inc lifted its stake in shares of Kforce Inc. (NASDAQ:KFRC) by 139.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,596 shares of the business services provider’s stock after purchasing an additional 3,256 shares during the period. Vestcor Inc’s holdings in Kforce were worth $344,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of KFRC. SG Americas Securities LLC bought a new stake in shares of Kforce in the second quarter valued at $718,000. Blue Trust Inc. raised its stake in Kforce by 59.9% in the 2nd quarter. Blue Trust Inc. now owns 427 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 160 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in Kforce by 3.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 756,788 shares of the business services provider’s stock valued at $47,020,000 after purchasing an additional 23,920 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in Kforce by 2.1% during the second quarter. SummerHaven Investment Management LLC now owns 12,107 shares of the business services provider’s stock worth $752,000 after purchasing an additional 247 shares during the period. Finally, Tributary Capital Management LLC boosted its position in Kforce by 0.3% during the second quarter. Tributary Capital Management LLC now owns 307,103 shares of the business services provider’s stock worth $19,080,000 after purchasing an additional 915 shares during the period. Institutional investors own 92.77% of the company’s stock.

Analysts Set New Price Targets

KFRC has been the topic of a number of recent research reports. Truist Financial dropped their price target on shares of Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a research note on Tuesday, October 29th. StockNews.com raised Kforce from a “hold” rating to a “buy” rating in a report on Saturday, November 30th. Finally, Sidoti upgraded Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Tuesday, October 15th.

Kforce Price Performance

Shares of NASDAQ:KFRC opened at $59.90 on Friday. The company has a 50 day moving average of $58.42 and a 200 day moving average of $61.50. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.14 billion, a P/E ratio of 20.66 and a beta of 0.88. Kforce Inc. has a 12 month low of $52.96 and a 12 month high of $74.79.

Kforce (NASDAQ:KFRC) last released its quarterly earnings results on Monday, October 28th. The business services provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.06. Kforce had a net margin of 3.86% and a return on equity of 33.50%. The firm had revenue of $353.30 million for the quarter, compared to analysts’ expectations of $352.19 million. During the same quarter in the prior year, the firm posted $0.90 earnings per share. The business’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, sell-side analysts forecast that Kforce Inc. will post 2.68 EPS for the current fiscal year.

Kforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.54%. Kforce’s dividend payout ratio (DPR) is presently 52.41%.

Kforce Company Profile

Kforce Inc provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security.