UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Holdings in Kforce Inc. (NASDAQ:KFRC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Kforce Inc. (NASDAQ:KFRC) by 13.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 33,998 shares of the business services provider’s stock after selling 5,343 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.18% of Kforce worth $2,089,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Blue Trust Inc. increased its stake in Kforce by 59.9% during the 2nd quarter. Blue Trust Inc. now owns 427 shares of the business services provider’s stock worth $27,000 after buying an additional 160 shares during the period. Azzad Asset Management Inc. ADV increased its stake in Kforce by 1.5% during 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 period. SummerHaven Investment Management LLC increased its stake in Kforce by 2.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 12,107 shares of the business services provider’s stock worth $752,000 after buying an additional 247 shares during the period. nVerses Capital LLC increased its position in shares of Kforce by 50.0% in the 2nd quarter. nVerses Capital LLC now owns 900 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 300 shares during the last quarter. Finally, Access Investment Management LLC increased its position in shares of Kforce by 0.8% in the 2nd quarter. Access Investment Management LLC now owns 36,275 shares of the business services provider’s stock valued at $2,254,000 after purchasing an additional 300 shares during the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on KFRC. Sidoti raised shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Tuesday, October 15th. Truist Financial lowered their target price 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, StockNews.com upgraded shares of Kforce from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th.

Kforce Stock Performance

Shares of KFRC opened at $59.78 on Monday. The company has a 50-day simple moving average of $58.42 and a 200-day simple moving average of $61.51. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.14 billion, a PE ratio of 20.61 and a beta of 0.88. Kforce Inc. has a 52-week low of $52.96 and a 52-week high of $74.79.

Kforce (NASDAQ:KFRC) last posted its earnings results on Monday, October 28th. The business services provider reported $0.75 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $352.19 million. During the same period last year, the firm posted $0.90 EPS. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. Equities research analysts predict that Kforce Inc. will post 2.68 earnings per share for the current fiscal year.

Kforce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.54%. Kforce’s dividend payout ratio (DPR) is presently 52.41%.

About Kforce

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.