Kforce (NASDAQ:KFRC) Shares Gap Down to $64.23

Kforce Inc. (NASDAQ:KFRC)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $64.23, but opened at $58.33. Kforce shares last traded at $62.01, with a volume of 30,285 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Truist Financial increased their target price on shares of Kforce from $57.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, January 25th. StockNews.com cut shares of Kforce from a “buy” rating to a “hold” rating in a research report on Tuesday, February 6th. Finally, Robert W. Baird boosted their price objective on shares of Kforce from $62.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Kforce currently has an average rating of “Hold” and an average price target of $68.33.

Kforce Price Performance

The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average is $68.11 and its 200-day moving average is $66.48. The company has a market cap of $1.20 billion, a PE ratio of 20.52 and a beta of 0.85.

Kforce (NASDAQ:KFRC) last posted its quarterly earnings data on Monday, April 29th. The business services provider reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. Kforce had a net margin of 3.99% and a return on equity of 38.24%. The business had revenue of $351.89 million for the quarter, compared to analyst estimates of $354.92 million. During the same quarter in the previous year, the firm posted $0.82 earnings per share. Kforce’s quarterly revenue was down 13.3% on a year-over-year basis. On average, equities analysts anticipate that Kforce Inc. will post 3.02 EPS for the current year.

Kforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.52 annualized dividend and a yield of 2.46%. This is a positive change from Kforce’s previous quarterly dividend of $0.36. Kforce’s payout ratio is presently 48.56%.

Institutional Investors Weigh In On Kforce

Several hedge funds have recently bought and sold shares of the business. SummerHaven Investment Management LLC boosted its stake in Kforce by 1.4% during the fourth quarter. SummerHaven Investment Management LLC now owns 11,718 shares of the business services provider’s stock worth $792,000 after acquiring an additional 160 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Kforce by 22.8% in the third quarter. First Horizon Advisors Inc. now owns 1,207 shares of the business services provider’s stock worth $72,000 after buying an additional 224 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Kforce by 3.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 7,822 shares of the business services provider’s stock worth $467,000 after buying an additional 255 shares in the last quarter. Oak Associates Ltd. OH lifted its stake in shares of Kforce by 2.3% in the third quarter. Oak Associates Ltd. OH now owns 15,255 shares of the business services provider’s stock worth $910,000 after buying an additional 340 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its stake in shares of Kforce by 420.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 448 shares of the business services provider’s stock worth $30,000 after buying an additional 362 shares in the last quarter. Institutional investors own 92.77% of the company’s stock.

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.