Annex Advisory Services LLC Increases Holdings in Kforce Inc. (NASDAQ:KFRC)

Annex Advisory Services LLC increased its holdings in shares of Kforce Inc. (NASDAQ:KFRC) by 14.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 9,008 shares of the business services provider’s stock after buying an additional 1,162 shares during the period. Annex Advisory Services LLC’s holdings in Kforce were worth $560,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in KFRC. SRS Capital Advisors Inc. boosted its stake in shares of Kforce by 420.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 448 shares of the business services provider’s stock valued at $30,000 after buying an additional 362 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Kforce by 487.7% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 670 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 556 shares during the period. Virtu Financial LLC acquired a new stake in Kforce during the fourth quarter valued at approximately $207,000. Avantax Advisory Services Inc. acquired a new position in shares of Kforce in the 1st quarter worth approximately $208,000. Finally, ProShare Advisors LLC raised its position in Kforce by 6.6% in the 1st quarter. ProShare Advisors LLC now owns 3,383 shares of the business services provider’s stock worth $239,000 after purchasing an additional 209 shares during the last quarter. Institutional investors own 92.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. StockNews.com upgraded shares of Kforce from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird lowered their target price on shares of Kforce from $72.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $68.00.

Insider Activity at Kforce

In related news, Director Mark F. Furlong sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $61.70, for a total value of $308,500.00. Following the transaction, the director now owns 26,297 shares of the company’s stock, valued at approximately $1,622,524.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Joseph J. Liberatore sold 6,638 shares of Kforce stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $62.02, for a total transaction of $411,688.76. Following the completion of the transaction, the chief executive officer now directly owns 213,689 shares of the company’s stock, valued at approximately $13,252,991.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark F. Furlong sold 5,000 shares of Kforce stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $61.70, for a total transaction of $308,500.00. Following the sale, the director now directly owns 26,297 shares in the company, valued at approximately $1,622,524.90. The disclosure for this sale can be found here. Insiders have sold a total of 16,439 shares of company stock valued at $1,015,114 over the last 90 days. 5.50% of the stock is owned by corporate insiders.

Kforce Trading Down 0.7 %

Shares of Kforce stock traded down $0.46 during trading on Friday, reaching $62.87. The company’s stock had a trading volume of 73,616 shares, compared to its average volume of 97,789. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 21.75 and a beta of 0.89. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.22. The firm’s 50-day moving average is $63.45 and its two-hundred day moving average is $65.68. Kforce Inc. has a 52-week low of $55.55 and a 52-week high of $74.79.

Kforce (NASDAQ:KFRC) last issued its earnings results on Monday, July 29th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.02. The business had revenue of $356.32 million during the quarter, compared to analysts’ expectations of $356.20 million. Kforce had a net margin of 3.56% and a return on equity of 34.89%. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share. On average, sell-side analysts anticipate that Kforce Inc. will post 2.7 earnings per share for the current year.

Kforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Friday, September 13th. Kforce’s payout ratio is 52.60%.

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.