Geode Capital Management LLC Acquires 18,386 Shares of Kforce Inc. (NASDAQ:KFRC)

Geode Capital Management LLC lifted its holdings in shares of Kforce Inc. (NASDAQ:KFRC) by 4.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 480,479 shares of the business services provider’s stock after purchasing an additional 18,386 shares during the quarter. Geode Capital Management LLC owned 2.52% of Kforce worth $29,530,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Azzad Asset Management Inc. ADV increased its holdings in shares of Kforce by 1.5% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 13,189 shares of the business services provider’s stock worth $810,000 after buying an additional 192 shares during the last quarter. nVerses Capital LLC increased its stake in Kforce by 50.0% in the second quarter. nVerses Capital LLC now owns 900 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 300 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Kforce by 4.1% during the second quarter. The Manufacturers Life Insurance Company now owns 9,508 shares of the business services provider’s stock valued at $591,000 after purchasing an additional 373 shares in the last quarter. Atria Investments Inc boosted its holdings in shares of Kforce by 6.4% in the 3rd quarter. Atria Investments Inc now owns 6,849 shares of the business services provider’s stock worth $421,000 after purchasing an additional 410 shares in the last quarter. Finally, Oak Associates Ltd. OH increased its position in shares of Kforce by 2.7% during the 2nd quarter. Oak Associates Ltd. OH now owns 15,671 shares of the business services provider’s stock valued at $974,000 after purchasing an additional 416 shares during the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

Kforce Trading Up 0.7 %

Shares of KFRC stock opened at $57.02 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 2.06. The business has a 50-day moving average of $58.51 and a 200 day moving average of $61.25. The stock has a market capitalization of $1.09 billion, a PE ratio of 19.66 and a beta of 0.88. Kforce Inc. has a 1-year low of $52.96 and a 1-year high of $74.79.

Kforce (NASDAQ:KFRC) last issued its earnings results on Monday, October 28th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.06. Kforce had a net margin of 3.86% and a return on equity of 33.50%. The firm had revenue of $353.30 million for the quarter, compared to analysts’ expectations of $352.19 million. During the same quarter last year, the business earned $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 anticipate that Kforce Inc. will post 2.68 earnings per share for the current year.

Kforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a yield of 2.67%. Kforce’s dividend payout ratio is presently 52.41%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. StockNews.com upgraded Kforce from a “hold” rating to a “buy” rating in a research report on Saturday, November 30th. Truist Financial lowered their price objective on shares of Kforce from $68.00 to $58.00 and set a “hold” rating for the company in a report on Tuesday, October 29th. Finally, Sidoti raised shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Tuesday, October 15th.

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.