JPMorgan Chase & Co. Sells 1,957 Shares of Kforce Inc. (NASDAQ:KFRC)

JPMorgan Chase & Co. lowered its stake in Kforce Inc. (NASDAQ:KFRC) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,946 shares of the business services provider’s stock after selling 1,957 shares during the period. JPMorgan Chase & Co. owned 0.22% of Kforce worth $2,578,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of Kforce by 171.9% during the third quarter. Barclays PLC now owns 42,166 shares of the business services provider’s stock valued at $2,591,000 after acquiring an additional 26,657 shares in the last quarter. Raymond James & Associates increased its stake in Kforce by 3.8% during the 3rd quarter. Raymond James & Associates now owns 98,253 shares of the business services provider’s stock valued at $6,038,000 after purchasing an additional 3,560 shares in the last quarter. Geode Capital Management LLC raised its holdings in Kforce by 4.0% in the third quarter. Geode Capital Management LLC now owns 480,479 shares of the business services provider’s stock worth $29,530,000 after buying an additional 18,386 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Kforce during the third quarter valued at approximately $302,000. Finally, Stifel Financial Corp increased its position in shares of Kforce by 3.0% during the third quarter. Stifel Financial Corp now owns 73,224 shares of the business services provider’s stock valued at $4,500,000 after acquiring an additional 2,159 shares in the last quarter. Institutional investors own 92.77% of the company’s stock.

Kforce Stock Performance

Shares of KFRC opened at $56.30 on Tuesday. The business has a 50-day simple moving average of $58.02 and a two-hundred day simple moving average of $60.54. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. Kforce Inc. has a 52 week low of $52.96 and a 52 week high of $74.79. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 19.41 and a beta of 0.89.

Kforce (NASDAQ:KFRC) last released 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 company had revenue of $353.30 million during the quarter, compared to analyst estimates of $352.19 million. During the same period in the prior year, the firm posted $0.90 EPS. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, analysts expect that Kforce Inc. will post 2.68 EPS for the current year.

Kforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Friday, December 6th. Kforce’s dividend payout ratio (DPR) is 52.41%.

Analyst Ratings Changes

Several research firms recently issued reports on KFRC. Truist Financial lowered their price objective on Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a research report on Tuesday, October 29th. Sidoti raised 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. Finally, StockNews.com raised Kforce from a “hold” rating to a “buy” rating in a research report on Saturday, November 30th.

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.