Schwab Charles Investment Management Inc. boosted its position in Kforce, Inc. (NASDAQ:KFRC) by 6.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,369 shares of the business services provider’s stock after buying an additional 13,533 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.93% of Kforce worth $4,594,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. Investment Counselors of Maryland LLC grew its position in Kforce by 27.8% in the 2nd quarter. Investment Counselors of Maryland LLC now owns 1,004,771 shares of the business services provider’s stock valued at $19,694,000 after buying an additional 218,650 shares during the last quarter. Bowling Portfolio Management LLC purchased a new position in Kforce in the 2nd quarter valued at $499,000. Strs Ohio grew its position in Kforce by 5.8% in the 2nd quarter. Strs Ohio now owns 18,100 shares of the business services provider’s stock valued at $354,000 after buying an additional 1,000 shares during the last quarter. Tributary Capital Management LLC grew its position in Kforce by 25.2% in the 2nd quarter. Tributary Capital Management LLC now owns 777,037 shares of the business services provider’s stock valued at $15,230,000 after buying an additional 156,200 shares during the last quarter. Finally, Dubuque Bank & Trust Co. grew its position in Kforce by 22.7% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 11,665 shares of the business services provider’s stock valued at $229,000 after buying an additional 2,158 shares during the last quarter. Hedge funds and other institutional investors own 78.42% of the company’s stock.
In other Kforce news, COO Kye L. Mitchell sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $17.99, for a total value of $89,950.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 13.30% of the company’s stock.
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Shares of Kforce, Inc. (NASDAQ:KFRC) opened at 19.50 on Monday. The stock has a market cap of $493.16 million, a PE ratio of 14.21 and a beta of 1.58. The stock’s 50 day moving average price is $19.01 and its 200-day moving average price is $19.46. Kforce, Inc. has a one year low of $15.95 and a one year high of $26.95.
Kforce (NASDAQ:KFRC) last issued its earnings results on Tuesday, August 1st. The business services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.02). Kforce had a return on equity of 29.67% and a net margin of 2.64%. The firm had revenue of $340.31 million during the quarter, compared to analyst estimates of $345.24 million. During the same period in the previous year, the company earned $0.41 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities analysts predict that Kforce, Inc. will post $1.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.46%. The ex-dividend date was Thursday, September 7th. Kforce’s payout ratio is currently 35.04%.
KFRC has been the subject of a number of recent analyst reports. TheStreet raised Kforce from a “c+” rating to a “b” rating in a report on Monday, October 2nd. Robert W. Baird reissued a “buy” rating and issued a $20.00 target price on shares of Kforce in a report on Tuesday, September 12th. ValuEngine upgraded Kforce from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. BidaskClub cut Kforce from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Finally, Deutsche Bank AG lowered their price target on Kforce from $25.00 to $22.00 and set a “hold” rating for the company in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Kforce currently has an average rating of “Hold” and an average price target of $23.20.
Kforce Company Profile
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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