Exchange Traded Concepts LLC Sells 838 Shares of Kforce Inc. (NASDAQ:KFRC)

Exchange Traded Concepts LLC lowered its stake in shares of Kforce Inc. (NASDAQ:KFRC) by 14.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,861 shares of the business services provider’s stock after selling 838 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Kforce were worth $299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Kforce by 0.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,402,035 shares of the business services provider’s stock worth $149,238,000 after acquiring an additional 13,706 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in 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 acquiring an additional 23,920 shares in the last quarter. Tributary Capital Management LLC boosted its holdings in Kforce by 0.3% in the second quarter. Tributary Capital Management LLC now owns 307,103 shares of the business services provider’s stock worth $19,080,000 after acquiring an additional 915 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Kforce by 5.1% in the second quarter. Bank of New York Mellon Corp now owns 148,492 shares of the business services provider’s stock worth $9,226,000 after acquiring an additional 7,214 shares in the last quarter. Finally, Aptus Capital Advisors LLC boosted its holdings in Kforce by 24.8% in the second quarter. Aptus Capital Advisors LLC now owns 75,081 shares of the business services provider’s stock worth $4,665,000 after acquiring an additional 14,925 shares in the last quarter. Institutional investors own 92.77% of the company’s stock.

Analyst Ratings Changes

KFRC has been the subject of several recent analyst reports. Sidoti raised Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a report on Tuesday, October 15th. StockNews.com upgraded Kforce from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.75.

Kforce Price Performance

Shares of NASDAQ KFRC opened at $55.58 on Monday. The business’s 50 day moving average price is $61.63 and its 200 day moving average price is $62.96. The firm has a market cap of $1.08 billion, a P/E ratio of 19.23 and a beta of 0.87. Kforce Inc. has a 52 week low of $55.15 and a 52 week high of $74.79. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.22.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings results on Monday, July 29th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02. Kforce had a return on equity of 34.89% and a net margin of 3.56%. The company had revenue of $356.32 million during the quarter, compared to the consensus estimate of $356.20 million. During the same period in the previous year, the company posted $0.95 earnings per share. Kforce’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, sell-side analysts expect that Kforce Inc. will post 2.7 earnings per share for the current year.

Kforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Friday, September 13th. Kforce’s payout ratio is presently 52.60%.

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.