Kforce Inc. (NASDAQ:KFRC) Short Interest Update

Kforce Inc. (NASDAQ:KFRC) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totalling 1,190,000 shares, an increase of 11.2% from the May 31st total of 1,070,000 shares. Approximately 6.5% of the shares of the stock are short sold. Based on an average daily volume of 82,500 shares, the days-to-cover ratio is currently 14.4 days.

Wall Street Analysts Forecast Growth

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

Kforce Price Performance

KFRC opened at $62.30 on Wednesday. The stock has a fifty day moving average of $62.49 and a 200-day moving average of $66.00. The firm has a market capitalization of $1.21 billion, a P/E ratio of 19.12 and a beta of 0.89. Kforce has a 12-month low of $53.75 and a 12-month high of $74.79. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.25.

Kforce (NASDAQ:KFRC) last released its earnings results on Monday, April 29th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. The company had revenue of $351.89 million during the quarter, compared to analyst estimates of $354.92 million. Kforce had a return on equity of 36.39% and a net margin of 3.78%. The company’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 earnings per share. Equities analysts forecast that Kforce will post 2.82 EPS for the current fiscal year.

Kforce Announces Dividend

The business also recently declared 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 2.44%. The ex-dividend date of this dividend was Friday, June 14th. Kforce’s dividend payout ratio (DPR) is presently 52.60%.

Insider Buying and Selling at Kforce

In other Kforce news, Director Mark F. Furlong sold 5,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $61.70, for a total transaction of $308,500.00. Following the completion of the transaction, the director now directly owns 26,297 shares of the company’s stock, valued at approximately $1,622,524.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Mark F. Furlong sold 5,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $61.70, for a total transaction of $308,500.00. Following the completion of the sale, the director now owns 26,297 shares in the company, valued at approximately $1,622,524.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph J. Liberatore sold 6,638 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $62.02, for a total value of $411,688.76. Following the sale, the chief executive officer now owns 213,689 shares of the company’s stock, valued at approximately $13,252,991.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,439 shares of company stock valued at $1,015,114. 5.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kforce

A number of hedge funds have recently modified their holdings of KFRC. SRS Capital Advisors Inc. increased its stake in shares of Kforce by 420.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 448 shares of the business services provider’s stock worth $30,000 after acquiring an additional 362 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Kforce by 487.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 670 shares of the business services provider’s stock worth $47,000 after acquiring an additional 556 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Kforce in the fourth quarter worth $207,000. Avantax Advisory Services Inc. acquired a new position in shares of Kforce in the first quarter worth $208,000. Finally, ProShare Advisors LLC increased its stake in shares of Kforce by 6.6% in the first quarter. ProShare Advisors LLC now owns 3,383 shares of the business services provider’s stock worth $239,000 after acquiring an additional 209 shares during the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.

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.