Kforce Inc. (NASDAQ:KFRC) Stake Reduced by New York Life Investment Management LLC

New York Life Investment Management LLC trimmed its position in Kforce Inc. (NASDAQ:KFRCFree Report) by 13.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,630 shares of the business services provider’s stock after selling 887 shares during the quarter. New York Life Investment Management LLC’s holdings in Kforce were worth $336,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Kforce during the 1st quarter worth about $126,009,000. Franklin Resources Inc. increased its position in Kforce by 3,537.9% during the second quarter. Franklin Resources Inc. now owns 475,180 shares of the business services provider’s stock worth $29,775,000 after acquiring an additional 462,118 shares during the period. Copeland Capital Management LLC raised its position in shares of 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 last quarter. Charles Schwab Investment Management Inc. raised its holdings in Kforce by 97.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 586,889 shares of the business services provider’s stock valued at $37,115,000 after acquiring an additional 289,832 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Kforce by 599.7% in the 2nd quarter. Wells Fargo & Company MN now owns 301,833 shares of the business services provider’s stock valued at $18,913,000 after buying an additional 258,697 shares in the last quarter. 92.85% of the stock is owned by hedge funds and other institutional investors.

Kforce Stock Down 0.2 %

NASDAQ:KFRC opened at $68.79 on Tuesday. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 21.98 and a beta of 0.87. 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 stock’s fifty day moving average price is $67.64 and its two-hundred day moving average price is $63.35. Kforce Inc. has a 52-week low of $50.89 and a 52-week high of $73.37.

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

Kforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a $0.38 dividend. This is a positive change from Kforce’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 2.21%. The ex-dividend date is Thursday, March 14th. Kforce’s dividend payout ratio is currently 46.01%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Robert W. Baird upped their target price on shares of Kforce from $62.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. TheStreet upgraded shares of Kforce from a “c+” rating to a “b-” rating in a research note on Monday, November 20th. Sidoti lowered Kforce from a “buy” rating to a “neutral” rating in a research report on Friday, December 1st. UBS Group dropped their price target on Kforce from $65.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. Finally, StockNews.com cut Kforce from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $68.33.

Get Our Latest Analysis on Kforce

Insider Buying and Selling at Kforce

In other news, COO David M. Kelly sold 1,806 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $70.00, for a total value of $126,420.00. Following the transaction, the chief operating officer now owns 80,097 shares of the company’s stock, valued at approximately $5,606,790. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.50% of the company’s stock.

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.

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Institutional Ownership by Quarter for Kforce (NASDAQ:KFRC)

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