Jump Financial LLC Makes New Investment in Kforce Inc. (NASDAQ:KFRC)

Jump Financial LLC purchased a new position in Kforce Inc. (NASDAQ:KFRCFree Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,100 shares of the business services provider’s stock, valued at approximately $364,000.

A number of other large investors have also recently made changes to their positions in KFRC. Copeland Capital Management LLC grew its position in Kforce by 121.6% during the third quarter. Copeland Capital Management LLC now owns 532,947 shares of the business services provider’s stock valued at $31,796,000 after buying an additional 292,403 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Kforce by 5.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,674 shares of the business services provider’s stock valued at $637,000 after buying an additional 567 shares during the period. Assenagon Asset Management S.A. grew its position in Kforce by 10.0% during the third quarter. Assenagon Asset Management S.A. now owns 13,549 shares of the business services provider’s stock valued at $808,000 after buying an additional 1,230 shares during the period. Bank of Montreal Can bought a new stake in Kforce during the second quarter valued at approximately $1,948,000. Finally, Exchange Traded Concepts LLC grew its position in Kforce by 7.0% during the third quarter. Exchange Traded Concepts LLC now owns 6,556 shares of the business services provider’s stock valued at $391,000 after buying an additional 430 shares during the period. 92.85% of the stock is currently owned by institutional investors.

Kforce Price Performance

KFRC stock opened at $68.79 on Tuesday. Kforce Inc. has a one year low of $50.89 and a one year high of $73.37. The company’s fifty day moving average price is $67.64 and its 200-day moving average price is $63.35. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market capitalization of $1.36 billion, a PE ratio of 21.98 and a beta of 0.87.

Kforce (NASDAQ:KFRCGet Free Report) last released its quarterly earnings results on Monday, February 5th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. The company had revenue of $363.45 million for the quarter, compared to the consensus estimate of $363.29 million. Kforce had a net margin of 3.99% and a return on equity of 36.94%. Kforce’s revenue was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 earnings per share. On average, equities analysts anticipate that Kforce Inc. will post 3.02 EPS for the current fiscal year.

Kforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be paid a dividend of $0.38 per share. This is an increase from Kforce’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.21%. Kforce’s dividend payout ratio is presently 46.01%.

Insider Activity at Kforce

In related news, COO David M. Kelly sold 1,806 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $70.00, for a total transaction of $126,420.00. Following the sale, the chief operating officer now owns 80,097 shares of the company’s stock, valued at $5,606,790. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. UBS Group lowered their price target on shares of Kforce from $65.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. Truist Financial lifted their price target on shares of Kforce from $57.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, January 25th. StockNews.com downgraded shares of Kforce from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. Sidoti downgraded shares of Kforce from a “buy” rating to a “neutral” rating in a report on Friday, December 1st. Finally, TheStreet raised shares of Kforce from a “c+” rating to a “b-” rating in a report on Monday, November 20th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Kforce has a consensus rating of “Hold” and an average target price of $68.33.

Check Out Our Latest Stock Analysis on KFRC

Kforce Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Kforce (NASDAQ:KFRC)

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