Kforce (NASDAQ:KFRC) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Kforce (NASDAQ:KFRC) from a buy rating to a hold rating in a research report sent to investors on Friday.

Several other brokerages have also recently commented on KFRC. Truist Financial cut their price target on Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a research note on Tuesday, October 29th. Sidoti upgraded Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Tuesday, October 15th.

Kforce Price Performance

Shares of KFRC stock opened at $60.52 on Friday. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 20.71 and a beta of 0.88. Kforce has a 12 month low of $52.96 and a 12 month high of $74.79. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $58.59 and a 200 day moving average price of $61.79.

Kforce (NASDAQ:KFRC) last issued 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. Kforce had a net margin of 3.86% and a return on equity of 33.50%. The company had revenue of $353.30 million during the quarter, compared to analysts’ expectations of $352.19 million. During the same quarter in the previous year, the company earned $0.90 EPS. Kforce’s revenue was down 5.3% on a year-over-year basis. Research analysts expect that Kforce will post 2.68 EPS for the current year.

Kforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.38 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.52 annualized dividend and a yield of 2.51%. Kforce’s dividend payout ratio (DPR) is presently 52.41%.

Hedge Funds Weigh In On Kforce

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. raised its stake in Kforce by 59.9% during the 2nd quarter. Blue Trust Inc. now owns 427 shares of the business services provider’s stock worth $27,000 after buying an additional 160 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Kforce during the third quarter worth about $30,000. TD Private Client Wealth LLC lifted its holdings in shares of Kforce by 58.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 496 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 182 shares in the last quarter. nVerses Capital LLC grew 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 valued at $56,000 after purchasing an additional 300 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Kforce in the 2nd quarter valued at approximately $68,000. Institutional investors and hedge funds own 92.77% of the company’s stock.

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.