Kforce Inc. (NASDAQ:KFRC) Announces $0.39 Quarterly Dividend

Kforce Inc. (NASDAQ:KFRC) announced a quarterly dividend on Tuesday, April 29th, Wall Street Journal reports. Investors of record on Friday, June 13th will be given a dividend of 0.39 per share by the business services provider on Friday, June 27th. This represents a $1.56 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Friday, June 13th.

Kforce has a dividend payout ratio of 43.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Kforce to earn $3.30 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 46.1%.

Kforce Stock Performance

Kforce stock opened at $41.89 on Wednesday. The firm’s 50 day simple moving average is $42.00 and its 200 day simple moving average is $49.87. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $780.41 million, a PE ratio of 15.63 and a beta of 0.75. Kforce has a 1-year low of $35.50 and a 1-year high of $71.48.

Kforce (NASDAQ:KFRC) last posted its earnings results on Monday, April 28th. The business services provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The firm had revenue of $330.03 million for the quarter, compared to the consensus estimate of $334.61 million. Kforce had a return on equity of 30.34% and a net margin of 3.59%. The business’s revenue was down 6.2% on a year-over-year basis. During the same period last year, the company posted $0.58 EPS. As a group, analysts expect that Kforce will post 2.7 earnings per share for the current fiscal year.

Insider Activity at Kforce

In other Kforce news, Director David L. Dunkel bought 1,000 shares of Kforce stock in a transaction that occurred on Monday, May 5th. The shares were bought at an average price of $37.80 per share, with a total value of $37,800.00. Following the acquisition, the director now owns 517,329 shares in the company, valued at approximately $19,555,036.20. This trade represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Kforce

Several institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Kforce by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,841 shares of the business services provider’s stock valued at $530,000 after purchasing an additional 474 shares during the last quarter. AQR Capital Management LLC boosted its position in Kforce by 9.7% during the 1st quarter. AQR Capital Management LLC now owns 22,785 shares of the business services provider’s stock valued at $1,114,000 after buying an additional 2,017 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Kforce by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 39,416 shares of the business services provider’s stock valued at $1,927,000 after buying an additional 2,159 shares during the period. Millennium Management LLC boosted its position in Kforce by 3.5% during the 1st quarter. Millennium Management LLC now owns 133,829 shares of the business services provider’s stock valued at $6,543,000 after buying an additional 4,511 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Kforce by 64.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 251,712 shares of the business services provider’s stock valued at $12,306,000 after buying an additional 99,050 shares during the period. Institutional investors own 92.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KFRC. Truist Financial decreased their price target on shares of Kforce from $58.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, April 15th. Wall Street Zen lowered shares of Kforce from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Finally, UBS Group decreased their price target on shares of Kforce from $47.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th.

About Kforce

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.