Fmr LLC Reduces Stock Position in Kforce Inc. (NASDAQ:KFRC)

FMR LLC trimmed its holdings in Kforce Inc. (NASDAQ:KFRC - Free Report) by 12.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,309,045 shares of the business services provider's stock after selling 194,181 shares during the period. FMR LLC owned approximately 6.86% of Kforce worth $80,441,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Blue Trust Inc. grew its position in shares of Kforce by 59.9% during the 2nd quarter. Blue Trust Inc. now owns 427 shares of the business services provider's stock valued at $27,000 after purchasing an additional 160 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in Kforce during the third quarter worth about $30,000. nVerses Capital LLC raised its holdings in shares of Kforce by 50.0% in the 2nd quarter. nVerses Capital LLC now owns 900 shares of the business services provider's stock valued at $56,000 after acquiring an additional 300 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Kforce during the 2nd quarter valued at about $68,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Kforce by 96.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,313 shares of the business services provider's stock worth $82,000 after purchasing an additional 643 shares in the last quarter. Hedge funds and other institutional investors own 92.77% of the company's stock.

Kforce Price Performance

Shares of KFRC stock traded down $0.52 during trading hours on Friday, hitting $59.84. 93,295 shares of the company's stock were exchanged, compared to its average volume of 113,763. The company has a market capitalization of $1.14 billion, a PE ratio of 21.05 and a beta of 0.88. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16. Kforce Inc. has a 12-month low of $52.96 and a 12-month high of $74.79. The business's 50 day simple moving average is $58.32 and its 200-day simple moving average is $61.58.

Kforce (NASDAQ:KFRC - Get Free Report) last issued its earnings results on Monday, October 28th. The business services provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.06. Kforce had a net margin of 3.86% and a return on equity of 33.50%. The company had revenue of $353.30 million for the quarter, compared to analysts' expectations of $352.19 million. During the same quarter last year, the company earned $0.90 EPS. The firm's revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts anticipate that Kforce Inc. will post 2.68 earnings per share for the current year.

Kforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.54%. The ex-dividend date is Friday, December 6th. Kforce's dividend payout ratio is presently 52.41%.

Analysts Set New Price Targets

Several brokerages have issued reports on KFRC. StockNews.com upgraded shares of Kforce from a "hold" rating to a "buy" rating in a research report on Saturday, November 30th. Truist Financial dropped their price objective on shares of Kforce from $68.00 to $58.00 and set a "hold" rating for the company in a report on Tuesday, October 29th. Finally, Sidoti raised Kforce from a "neutral" rating to a "buy" rating and set a $71.00 target price on the stock in a research note on Tuesday, October 15th.

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.