Kforce (NASDAQ:KFRC) Reaches New 1-Year Low – What’s Next?

Kforce Inc. (NASDAQ:KFRC)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $49.00 and last traded at $49.36, with a volume of 7258 shares traded. The stock had previously closed at $49.94.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on KFRC shares. Truist Financial cut their target price on shares of Kforce from $68.00 to $58.00 and set a “hold” rating for the company in a research report on Tuesday, October 29th. StockNews.com upgraded shares of Kforce from a “hold” rating to a “buy” rating in a research report on Saturday, November 30th.

Kforce Trading Down 2.3 %

The firm’s 50-day simple moving average is $55.57 and its 200-day simple moving average is $58.86. 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 firm has a market capitalization of $930.76 million, a PE ratio of 18.20 and a beta of 0.88.

Kforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.20%. This is a positive change from Kforce’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, March 7th. Kforce’s dividend payout ratio is presently 58.21%.

Institutional Trading of Kforce

A number of institutional investors have recently modified their holdings of KFRC. Sanctuary Advisors LLC purchased a new stake in shares of Kforce during the second quarter worth about $211,000. Blue Trust Inc. boosted its holdings in shares of Kforce by 259.5% during the third quarter. Blue Trust Inc. now owns 1,535 shares of the business services provider’s stock worth $95,000 after purchasing an additional 1,108 shares during the period. Raymond James & Associates boosted its holdings in shares of Kforce by 3.8% during the third quarter. Raymond James & Associates now owns 98,253 shares of the business services provider’s stock worth $6,038,000 after purchasing an additional 3,560 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Kforce by 10.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,722 shares of the business services provider’s stock worth $660,000 after purchasing an additional 1,043 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Kforce by 2.5% during the third quarter. Janney Montgomery Scott LLC now owns 33,815 shares of the business services provider’s stock worth $2,078,000 after purchasing an additional 821 shares during the period. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

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.