Trust Point Inc. Sells 7,773 Shares of Kforce Inc. (NASDAQ:KFRC)

Trust Point Inc. decreased its position in Kforce Inc. (NASDAQ:KFRC) by 62.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,724 shares of the business services provider’s stock after selling 7,773 shares during the quarter. Trust Point Inc.’s holdings in Kforce were worth $268,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Squarepoint Ops LLC bought a new stake in Kforce in the second quarter worth $328,000. AQR Capital Management LLC grew its stake in shares of Kforce by 28.9% in the 2nd quarter. AQR Capital Management LLC now owns 17,874 shares of the business services provider’s stock worth $1,111,000 after buying an additional 4,011 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Kforce by 4.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,508 shares of the business services provider’s stock worth $591,000 after buying an additional 373 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Kforce during the 2nd quarter valued at about $211,000. Finally, Inspire Investing LLC lifted its holdings in shares of Kforce by 17.9% in the 3rd quarter. Inspire Investing LLC now owns 6,673 shares of the business services provider’s stock valued at $410,000 after acquiring an additional 1,014 shares during the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on KFRC. StockNews.com raised Kforce from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th. Sidoti raised Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Tuesday, October 15th. Finally, Truist Financial lowered their price target on Kforce from $68.00 to $58.00 and set a “hold” rating for the company in a research report on Tuesday, October 29th.

Kforce Stock Down 2.5 %

Shares of NASDAQ KFRC opened at $52.43 on Friday. Kforce Inc. has a 1 year low of $52.08 and a 1 year high of $74.79. The firm has a 50-day simple moving average of $57.00 and a two-hundred day simple moving average of $59.85. The company has a market cap of $1.00 billion, a P/E ratio of 18.08 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 2.06.

Kforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a dividend of $0.39 per share. This is a positive change from Kforce’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Friday, March 7th. Kforce’s dividend payout ratio (DPR) is currently 52.41%.

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.