Kforce Inc. (NASDAQ:KFRC) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lowered its position in shares of Kforce Inc. (NASDAQ:KFRC) by 0.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,020 shares of the business services provider’s stock after selling 422 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.50% of Kforce worth $6,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. increased its position in shares of Kforce by 14.6% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 732,868 shares of the business services provider’s stock worth $51,682,000 after acquiring an additional 93,180 shares during the period. Access Investment Management LLC purchased a new stake in shares of Kforce during the fourth quarter worth $3,103,000. Franklin Resources Inc. increased its position in shares of Kforce by 4.2% during the fourth quarter. Franklin Resources Inc. now owns 999,557 shares of the business services provider’s stock worth $67,530,000 after acquiring an additional 40,527 shares during the period. Wellington Management Group LLP increased its position in shares of Kforce by 151.5% during the fourth quarter. Wellington Management Group LLP now owns 62,280 shares of the business services provider’s stock worth $4,208,000 after acquiring an additional 37,512 shares during the period. Finally, Sei Investments Co. increased its position in shares of Kforce by 36.1% during the first quarter. Sei Investments Co. now owns 45,459 shares of the business services provider’s stock worth $3,207,000 after acquiring an additional 12,050 shares during the period. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Kforce Stock Performance

Shares of KFRC traded up $3.18 during mid-day trading on Tuesday, hitting $70.78. 216,294 shares of the company’s stock were exchanged, compared to its average volume of 98,538. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $1.38 billion, a P/E ratio of 24.49 and a beta of 0.89. Kforce Inc. has a fifty-two week low of $53.75 and a fifty-two week high of $74.79. The business’s 50 day moving average is $62.92 and its two-hundred day moving average is $65.81.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings results on Monday, July 29th. The business services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02. Kforce had a net margin of 3.78% and a return on equity of 36.39%. The company had revenue of $356.32 million for the quarter, compared to analyst estimates of $356.20 million. During the same quarter last year, the business earned $0.95 EPS. Kforce’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, equities analysts expect that Kforce Inc. will post 2.82 earnings per share for the current year.

Insider Activity at Kforce

In other Kforce news, Director Mark F. Furlong sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $61.70, for a total value of $308,500.00. Following the completion of the transaction, the director now owns 26,297 shares in the company, valued at approximately $1,622,524.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Andrew G. Thomas sold 4,801 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $61.43, for a total transaction of $294,925.43. Following the completion of the sale, the insider now directly owns 94,095 shares in the company, valued at $5,780,255.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark F. Furlong sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $61.70, for a total value of $308,500.00. Following the completion of the transaction, the director now owns 26,297 shares in the company, valued at approximately $1,622,524.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,439 shares of company stock worth $1,015,114. 5.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Robert W. Baird dropped their target price on Kforce from $72.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $68.00.

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.