PNC Financial Services Group Inc. Sells 213 Shares of Kforce Inc. (NASDAQ:KFRC)

PNC Financial Services Group Inc. decreased its position in Kforce Inc. (NASDAQ:KFRC) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,192 shares of the business services provider’s stock after selling 213 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Kforce were worth $486,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. raised its stake in shares of Kforce by 4.9% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 639,688 shares of the business services provider’s stock worth $43,217,000 after buying an additional 29,840 shares during the period. Kingswood Wealth Advisors LLC bought a new position in shares of Kforce in the fourth quarter worth about $251,000. Stifel Financial Corp raised its stake in shares of Kforce by 25.1% in the third quarter. Stifel Financial Corp now owns 66,149 shares of the business services provider’s stock worth $3,946,000 after buying an additional 13,276 shares during the period. Franklin Resources Inc. raised its stake in shares of Kforce by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 999,557 shares of the business services provider’s stock worth $67,530,000 after buying an additional 40,527 shares during the period. Finally, Raymond James & Associates raised its stake in Kforce by 2.4% during the 4th quarter. Raymond James & Associates now owns 99,240 shares of the business services provider’s stock valued at $6,705,000 after purchasing an additional 2,282 shares during the period. Institutional investors own 92.77% of the company’s stock.

Kforce Stock Performance

NASDAQ KFRC opened at $61.81 on Friday. The stock has a market capitalization of $1.20 billion, a PE ratio of 21.39 and a beta of 0.88. The business has a 50 day simple moving average of $62.62 and a two-hundred day simple moving average of $66.19. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.32 and a quick ratio of 2.32. Kforce Inc. has a 1-year low of $53.75 and a 1-year high of $74.79.

Kforce (NASDAQ:KFRC) last released its quarterly earnings results on Monday, April 29th. The business services provider reported $0.58 earnings per share for the quarter, meeting the consensus estimate of $0.58. The business had revenue of $351.89 million during the quarter, compared to analysts’ expectations of $354.92 million. Kforce had a return on equity of 36.39% and a net margin of 3.78%. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. On average, research analysts predict that Kforce Inc. will post 2.82 EPS for the current fiscal year.

Kforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, June 14th. Kforce’s dividend payout ratio (DPR) is 52.60%.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird decreased their target price on Kforce from $72.00 to $71.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 30th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $68.00.

Insider Transactions at Kforce

In other news, insider Andrew G. Thomas sold 4,801 shares of Kforce stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $61.43, for a total value of $294,925.43. Following the completion of the transaction, the insider now owns 94,095 shares in the company, valued at approximately $5,780,255.85. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Joseph J. Liberatore sold 6,638 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $62.02, for a total transaction of $411,688.76. Following the completion of the transaction, the chief executive officer now owns 213,689 shares in the company, valued at approximately $13,252,991.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew G. Thomas sold 4,801 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $61.43, for a total value of $294,925.43. Following the transaction, the insider now owns 94,095 shares of the company’s stock, valued at approximately $5,780,255.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,439 shares of company stock worth $1,015,114. 5.50% of the stock is currently owned by company insiders.

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.