SummerHaven Investment Management LLC Has $792,000 Holdings in Kforce Inc. (NASDAQ:KFRC)

SummerHaven Investment Management LLC lifted its holdings in shares of Kforce Inc. (NASDAQ:KFRC) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,718 shares of the business services provider’s stock after acquiring an additional 160 shares during the quarter. SummerHaven Investment Management LLC owned approximately 0.06% of Kforce worth $792,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in shares of Kforce by 45.1% in the fourth quarter. Russell Investments Group Ltd. now owns 9,764 shares of the business services provider’s stock valued at $660,000 after purchasing an additional 3,037 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Kforce by 4.9% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 639,688 shares of the business services provider’s stock valued at $43,217,000 after purchasing an additional 29,840 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Kforce by 6.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,409 shares of the business services provider’s stock valued at $771,000 after buying an additional 735 shares in the last quarter. Trust Point Inc. bought a new position in Kforce during the fourth quarter worth about $612,000. Finally, Kingswood Wealth Advisors LLC acquired a new stake in Kforce in the 4th quarter worth about $251,000. 92.77% of the stock is owned by institutional investors.

Kforce Trading Up 0.2 %

Shares of KFRC opened at $64.23 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.37 and a current ratio of 2.37. Kforce Inc. has a 52-week low of $50.89 and a 52-week high of $74.79. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 20.52 and a beta of 0.85. The business’s fifty day moving average is $68.11 and its 200-day moving average is $66.48.

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

Kforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.38 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Kforce’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 2.37%. Kforce’s dividend payout ratio is 48.56%.

Analyst Ratings Changes

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

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.