Verition Fund Management LLC Makes New $350,000 Investment in Kforce Inc. (NASDAQ:KFRC)

Verition Fund Management LLC bought a new stake in shares of Kforce Inc. (NASDAQ:KFRC) during the third quarter, HoldingsChannel.com reports. The fund bought 5,700 shares of the business services provider’s stock, valued at approximately $350,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hantz Financial Services Inc. bought a new position in Kforce in the 2nd quarter valued at $1,488,000. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Kforce by 3.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 756,788 shares of the business services provider’s stock worth $47,020,000 after purchasing an additional 23,920 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Kforce in the 3rd quarter worth about $1,114,000. Charles Schwab Investment Management Inc. lifted its holdings in Kforce by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 719,163 shares of the business services provider’s stock valued at $44,193,000 after buying an additional 17,087 shares in the last quarter. Finally, Aptus Capital Advisors LLC boosted its position in Kforce by 24.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 75,081 shares of the business services provider’s stock valued at $4,665,000 after buying an additional 14,925 shares during the period. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KFRC has been the topic of a number of research reports. Truist Financial reduced their target price on shares of Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a research report on Tuesday, October 29th. Sidoti upgraded Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Tuesday, October 15th. Finally, StockNews.com upgraded Kforce from a “hold” rating to a “buy” rating in a report on Saturday, November 30th.

Kforce Trading Up 1.0 %

NASDAQ:KFRC opened at $59.90 on Friday. The firm has a 50-day simple moving average of $58.42 and a 200-day simple moving average of $61.50. Kforce Inc. has a one year low of $52.96 and a one year high of $74.79. The firm has a market cap of $1.14 billion, a P/E ratio of 20.66 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.06 and a current ratio of 2.06.

Kforce (NASDAQ:KFRC) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The company had revenue of $353.30 million during the quarter, compared to the consensus estimate of $352.19 million. Kforce had a net margin of 3.86% and a return on equity of 33.50%. Kforce’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Equities analysts anticipate that Kforce Inc. will post 2.68 EPS for the current fiscal year.

Kforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Friday, December 6th. Kforce’s payout ratio is currently 52.41%.

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.