Intech Investment Management LLC Invests $302,000 in Kforce Inc. (NASDAQ:KFRC)

Intech Investment Management LLC purchased a new position in shares of Kforce Inc. (NASDAQ:KFRC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,912 shares of the business services provider’s stock, valued at approximately $302,000.

Several other large investors also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. lifted its position in shares of Kforce by 14.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,287 shares of the business services provider’s stock worth $577,000 after purchasing an additional 1,146 shares during the last quarter. Annex Advisory Services LLC raised its holdings in Kforce by 14.8% in the 2nd quarter. Annex Advisory Services LLC now owns 9,008 shares of the business services provider’s stock valued at $560,000 after acquiring an additional 1,162 shares in the last quarter. SG Americas Securities LLC acquired a new position in Kforce in the 2nd quarter valued at approximately $718,000. Blue Trust Inc. raised its holdings in Kforce by 59.9% in the 2nd quarter. Blue Trust Inc. now owns 427 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 160 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in Kforce by 3.3% in the 2nd 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 acquiring an additional 23,920 shares in the last quarter. Institutional investors own 92.77% of the company’s stock.

Kforce Price Performance

Shares of NASDAQ KFRC opened at $61.65 on Thursday. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 21.26 and a beta of 0.88. The business has a 50-day moving average of $58.32 and a 200-day moving average of $61.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 2.06. Kforce Inc. has a fifty-two week low of $52.96 and a fifty-two week high of $74.79.

Kforce (NASDAQ:KFRC) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. Kforce had a return on equity of 33.50% and a net margin of 3.86%. The company had revenue of $353.30 million during the quarter, compared to analysts’ expectations of $352.19 million. During the same quarter in the previous year, the company posted $0.90 earnings per share. The business’s revenue was down 5.3% on a year-over-year basis. As a group, sell-side analysts predict that Kforce Inc. will post 2.68 earnings per share for the current fiscal year.

Kforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.52 annualized dividend and a yield of 2.47%. Kforce’s dividend payout ratio is currently 52.41%.

Analyst Upgrades and Downgrades

KFRC has been the subject of a number of recent research reports. Truist Financial dropped their target price on Kforce from $68.00 to $58.00 and set a “hold” rating for the company in a report on Tuesday, October 29th. Sidoti raised Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a report on Tuesday, October 15th. Finally, StockNews.com raised Kforce from a “hold” rating to a “buy” rating in a report on Saturday, November 30th.

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.