Wellington Management Group LLP Has $4.21 Million Stock Holdings in Kforce Inc. (NASDAQ:KFRC)

Wellington Management Group LLP raised its stake in Kforce Inc. (NASDAQ:KFRC) by 151.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,280 shares of the business services provider’s stock after buying an additional 37,512 shares during the period. Wellington Management Group LLP owned 0.32% of Kforce worth $4,208,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KFRC. Envestnet Asset Management Inc. boosted its holdings in shares of Kforce by 97.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 122,694 shares of the business services provider’s stock valued at $7,320,000 after acquiring an additional 60,436 shares in the last quarter. Access Investment Management LLC bought a new stake in shares of Kforce during the fourth quarter worth about $3,103,000. Franklin Resources Inc. increased 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 valued at $67,530,000 after buying an additional 40,527 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in Kforce by 4.9% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 639,688 shares of the business services provider’s stock valued at $43,217,000 after buying an additional 29,840 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Kforce during the 3rd quarter worth approximately $1,378,000. Institutional investors own 92.77% of the company’s stock.

Analyst Upgrades and Downgrades

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

Kforce Price Performance

Kforce stock opened at $62.13 on Friday. The stock’s 50 day moving average is $62.59 and its 200 day moving average is $66.12. Kforce Inc. has a one year low of $53.75 and a one year high of $74.79. The firm has a market cap of $1.21 billion, a P/E ratio of 21.50 and a beta of 0.88. 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 (NASDAQ:KFRC) last issued its quarterly earnings results on Monday, April 29th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.58. Kforce had a net margin of 3.78% and a return on equity of 36.39%. The firm had revenue of $351.89 million for the quarter, compared to the consensus estimate of $354.92 million. During the same quarter in the previous year, the company earned $0.82 EPS. The company’s revenue for the quarter was down 13.3% on a year-over-year basis. As a group, research analysts expect that Kforce Inc. will post 2.82 EPS for the current year.

Kforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Friday, June 14th. Kforce’s dividend payout ratio is 52.60%.

Insider Activity at Kforce

In other Kforce news, Director Mark F. Furlong sold 5,000 shares of Kforce stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $61.70, for a total value of $308,500.00. Following the completion of the sale, the director now directly owns 26,297 shares in the company, valued at $1,622,524.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Kforce news, Director Mark F. Furlong sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $61.70, for a total value of $308,500.00. Following the completion of the sale, the director now directly owns 26,297 shares in the company, valued at $1,622,524.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew G. Thomas sold 4,801 shares of Kforce stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $61.43, for a total transaction of $294,925.43. Following the completion of the sale, the insider now directly owns 94,095 shares of the company’s stock, valued at $5,780,255.85. The disclosure for this sale can be found here. Insiders have sold a total of 16,439 shares of company stock worth $1,015,114 in the last 90 days. Corporate insiders own 5.50% of the company’s stock.

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.