Exchange Traded Concepts LLC Decreases Stock Position in Kforce Inc. (NASDAQ:KFRC)

Exchange Traded Concepts LLC lessened its stake in shares of Kforce Inc. (NASDAQ:KFRC) by 14.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,861 shares of the business services provider’s stock after selling 838 shares during the period. Exchange Traded Concepts LLC’s holdings in Kforce were worth $299,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in Kforce by 59.9% during the 2nd quarter. Blue Trust Inc. now owns 427 shares of the business services provider’s stock valued at $27,000 after buying an additional 160 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in 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 purchasing an additional 556 shares during the period. 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 worth $56,000 after purchasing an additional 300 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Kforce in the second quarter worth $68,000. Finally, Virtu Financial LLC purchased a new stake in Kforce in the fourth quarter worth $207,000. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Wall Street Analyst Weigh In

KFRC has been the topic of a number of recent analyst reports. Sidoti upgraded Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Tuesday, October 15th. StockNews.com upgraded Kforce from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.75.

Kforce Stock Performance

Shares of Kforce stock opened at $55.58 on Monday. The firm has a market cap of $1.08 billion, a P/E ratio of 19.23 and a beta of 0.87. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.22. Kforce Inc. has a 12 month low of $55.15 and a 12 month high of $74.79. The stock’s fifty day moving average price is $61.63 and its 200-day moving average price is $62.96.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings results on Monday, July 29th. The business services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.73 by $0.02. The firm had revenue of $356.32 million for the quarter, compared to analyst estimates of $356.20 million. Kforce had a return on equity of 34.89% and a net margin of 3.56%. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 earnings per share. On average, equities research analysts expect that Kforce Inc. will post 2.7 earnings per share for the current fiscal year.

Kforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.52 annualized dividend and a dividend yield of 2.73%. Kforce’s dividend payout ratio is currently 52.60%.

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.