Squarepoint Ops LLC Makes New $328,000 Investment in Kforce Inc. (NASDAQ:KFRC)

Squarepoint Ops LLC acquired a new position in Kforce Inc. (NASDAQ:KFRC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,284 shares of the business services provider’s stock, valued at approximately $328,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC lifted its stake 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 valued at $149,238,000 after buying an additional 13,706 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake 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 valued at $47,020,000 after buying an additional 23,920 shares during the period. Tributary Capital Management LLC lifted its stake 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 valued at $19,080,000 after buying an additional 915 shares during the period. Bank of New York Mellon Corp lifted its stake 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 valued at $9,226,000 after buying an additional 7,214 shares during the period. Finally, Aptus Capital Advisors LLC raised its position in shares of Kforce by 24.8% during the second quarter. Aptus Capital Advisors LLC now owns 75,081 shares of the business services provider’s stock worth $4,665,000 after purchasing an additional 14,925 shares during the period. Institutional investors and hedge funds own 92.77% of the company’s stock.

Kforce Stock Up 0.8 %

Shares of Kforce stock opened at $56.01 on Friday. The business’s 50 day simple moving average is $62.26 and its 200 day simple moving average is $63.49. Kforce Inc. has a 52-week low of $55.15 and a 52-week high of $74.79. The firm has a market cap of $1.09 billion, a PE ratio of 19.38 and a beta of 0.87. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.33 and a current ratio of 2.33.

Kforce (NASDAQ:KFRC) last posted its quarterly earnings results on Monday, July 29th. The business services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02. The firm had revenue of $356.32 million during the quarter, compared to the consensus estimate of $356.20 million. Kforce had a return on equity of 34.89% and a net margin of 3.56%. The business’s revenue was down 8.4% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. On average, analysts predict that Kforce Inc. will post 2.7 earnings per share for the current fiscal 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 paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.52 dividend on an annualized basis and a yield of 2.71%. Kforce’s dividend payout ratio is 52.60%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Kforce from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $68.00.

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.