Bank of New York Mellon Corp Boosts Stock Holdings in Kforce Inc. (NASDAQ:KFRC)

Bank of New York Mellon Corp increased its stake in Kforce Inc. (NASDAQ:KFRC - Free Report) by 9.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,971 shares of the business services provider's stock after acquiring an additional 13,066 shares during the quarter. Bank of New York Mellon Corp owned 0.78% of Kforce worth $8,447,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. increased its stake in shares of Kforce by 10.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 9,307 shares of the business services provider's stock valued at $528,000 after acquiring an additional 889 shares in the last quarter. Barclays PLC increased its stake in shares of Kforce by 171.9% in the 3rd 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. Geode Capital Management LLC increased its stake in shares of Kforce by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 480,479 shares of the business services provider's stock valued at $29,530,000 after acquiring an additional 18,386 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Kforce in the 3rd quarter valued at $302,000. Finally, Stifel Financial Corp increased its stake in shares of Kforce by 3.0% in the 3rd 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.

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Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Kforce from a "hold" rating to a "buy" rating in a research note on Saturday, November 30th.

Kforce Stock Up 0.7 %

KFRC stock traded up $0.35 during midday trading on Tuesday, reaching $50.72. 98,190 shares of the company's stock traded hands, compared to its average volume of 109,938. The company has a market cap of $969.35 million, a price-to-earnings ratio of 18.93 and a beta of 0.83. The firm's fifty day moving average price is $52.57 and its 200-day moving average price is $56.83. 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 $48.03 and a 52 week high of $72.19.

Kforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Kforce's previous quarterly dividend of $0.38. Kforce's payout ratio is 58.21%.

Kforce Company 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.