Janney Montgomery Scott LLC Raises Stock Position in Kforce Inc. (NASDAQ:KFRC)

Janney Montgomery Scott LLC lifted its stake in Kforce Inc. (NASDAQ:KFRC) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,815 shares of the business services provider’s stock after purchasing an additional 821 shares during the period. Janney Montgomery Scott LLC’s holdings in Kforce were worth $2,078,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of KFRC. Blue Trust Inc. raised its stake in Kforce by 59.9% in the second quarter. Blue Trust Inc. now owns 427 shares of the business services provider’s stock worth $27,000 after buying an additional 160 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in shares of Kforce during the 3rd quarter worth approximately $30,000. nVerses Capital LLC raised its position in shares of Kforce by 50.0% in the 2nd quarter. nVerses Capital LLC now owns 900 shares of the business services provider’s stock worth $56,000 after acquiring an additional 300 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Kforce in the 2nd quarter valued at approximately $68,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Kforce by 96.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,313 shares of the business services provider’s stock valued at $82,000 after purchasing an additional 643 shares during the period. Institutional investors own 92.77% of the company’s stock.

Kforce Trading Down 1.2 %

Shares of KFRC stock opened at $61.19 on Wednesday. The stock has a fifty day simple moving average of $59.26 and a two-hundred day simple moving average of $62.07. Kforce Inc. has a 52-week low of $52.96 and a 52-week high of $74.79. The firm has a market capitalization of $1.17 billion, a PE ratio of 21.10 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.06 and a current ratio of 2.06.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.69 by $0.06. The business had revenue of $353.30 million for the quarter, compared to analysts’ expectations of $352.19 million. Kforce had a net margin of 3.86% and a return on equity of 33.50%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 EPS. On average, analysts predict that Kforce Inc. will post 2.68 EPS for the current fiscal year.

Kforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.48%. The ex-dividend date is Friday, December 6th. Kforce’s payout ratio is 52.41%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KFRC. StockNews.com lowered shares of Kforce from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Sidoti raised shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Tuesday, October 15th. Finally, Truist Financial lowered their target price on shares of Kforce from $68.00 to $58.00 and set a “hold” rating for the company in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Kforce presently has a consensus rating of “Moderate Buy” and an average target price of $66.67.

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.