Stifel Financial Corp Purchases 2,159 Shares of Kforce Inc. (NASDAQ:KFRC)

Stifel Financial Corp grew its position in shares of Kforce Inc. (NASDAQ:KFRC) by 3.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 73,224 shares of the business services provider’s stock after acquiring an additional 2,159 shares during the quarter. Stifel Financial Corp’s holdings in Kforce were worth $4,500,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. raised its position in Kforce by 59.9% during the second quarter. Blue Trust Inc. now owns 427 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 160 shares during the period. Kathleen S. Wright Associates Inc. purchased a new position in shares of Kforce in the 3rd quarter worth approximately $30,000. nVerses Capital LLC increased its position in shares of Kforce by 50.0% during the 2nd quarter. nVerses Capital LLC now owns 900 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 300 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Kforce during the 2nd quarter valued at $68,000. Finally, Benjamin F. Edwards & Company Inc. lifted its position in Kforce by 96.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,313 shares of the business services provider’s stock worth $82,000 after buying an additional 643 shares during the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

Kforce Stock Performance

KFRC stock opened at $59.78 on Monday. Kforce Inc. has a twelve month low of $52.96 and a twelve month high of $74.79. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 20.61 and a beta of 0.88. The business’s fifty day simple moving average is $58.42 and its two-hundred day simple moving average is $61.51. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16.

Kforce (NASDAQ:KFRC) last posted its quarterly earnings results on Monday, October 28th. The business services provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.69 by $0.06. The company had revenue of $353.30 million for 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%. The firm’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.90 EPS. Analysts predict that Kforce Inc. will post 2.68 earnings per share for the current year.

Kforce Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KFRC. StockNews.com raised shares of Kforce from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th. Sidoti upgraded shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Tuesday, October 15th. Finally, Truist Financial reduced their price objective 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.

Kforce 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.