Franklin Resources Inc. Sells 745,375 Shares of Kforce Inc. (NASDAQ:KFRC)

Franklin Resources Inc. trimmed its holdings in shares of Kforce Inc. (NASDAQ:KFRC - Free Report) by 98.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,434 shares of the business services provider's stock after selling 745,375 shares during the period. Franklin Resources Inc. owned about 0.08% of Kforce worth $818,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbor Capital Advisors Inc. raised its position in Kforce by 10.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 9,307 shares of the business services provider's stock worth $528,000 after acquiring an additional 889 shares during the period. Barclays PLC increased its stake in shares of Kforce by 171.9% during the 3rd quarter. Barclays PLC now owns 42,166 shares of the business services provider's stock worth $2,591,000 after purchasing an additional 26,657 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 worth $29,530,000 after purchasing an additional 18,386 shares during the period. Heritage Family Offices LLP purchased a new position in Kforce in the fourth quarter valued at approximately $258,000. Finally, Blue Trust Inc. grew its holdings in Kforce by 17.9% during the fourth quarter. Blue Trust Inc. now owns 1,810 shares of the business services provider's stock valued at $111,000 after purchasing an additional 275 shares during the period. 92.77% of the stock is owned by hedge funds and other institutional investors.

Kforce Price Performance

Shares of KFRC traded up $1.11 during mid-day trading on Tuesday, reaching $44.56. 137,058 shares of the stock traded hands, compared to its average volume of 120,373. The company has a market cap of $851.66 million, a price-to-earnings ratio of 16.63 and a beta of 0.76. Kforce Inc. has a 1 year low of $42.11 and a 1 year high of $71.48. The firm has a fifty day moving average price of $48.20 and a 200 day moving average price of $53.96. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.39 dividend. This is an increase from Kforce's previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Friday, March 7th. Kforce's dividend payout ratio (DPR) is currently 58.21%.

Analyst Upgrades and Downgrades

Separately, Truist Financial decreased their price objective on Kforce from $58.00 to $50.00 and set a "hold" rating for the company in a report on Tuesday, April 15th.

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.