Charles Schwab Investment Management Inc. Grows Position in Kforce Inc. (NASDAQ:KFRC)

Charles Schwab Investment Management Inc. increased its position in shares of Kforce Inc. (NASDAQ:KFRC - Free Report) by 2.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 719,163 shares of the business services provider's stock after buying an additional 17,087 shares during the period. Charles Schwab Investment Management Inc. owned 3.77% of Kforce worth $44,193,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of KFRC. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Kforce by 0.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,402,035 shares of the business services provider's stock valued at $149,238,000 after buying an additional 13,706 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Kforce by 3.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 756,788 shares of the business services provider's stock worth $47,020,000 after acquiring an additional 23,920 shares during the last quarter. Tributary Capital Management LLC increased its position in shares of Kforce by 0.3% during the second quarter. Tributary Capital Management LLC now owns 307,103 shares of the business services provider's stock worth $19,080,000 after purchasing an additional 915 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Kforce by 5.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 148,492 shares of the business services provider's stock valued at $9,226,000 after purchasing an additional 7,214 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in Kforce by 3.8% in the 3rd quarter. Raymond James & Associates now owns 98,253 shares of the business services provider's stock valued at $6,038,000 after purchasing an additional 3,560 shares in the last quarter. Hedge funds and other institutional investors own 92.77% of the company's stock.

Kforce Trading Up 2.6 %

KFRC stock traded up $1.54 during mid-day trading on Monday, hitting $61.53. 172,045 shares of the company were exchanged, compared to its average volume of 113,774. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $58.31 and a 200-day simple moving average of $61.61. Kforce Inc. has a 12-month low of $52.96 and a 12-month high of $74.79. The firm has a market capitalization of $1.17 billion, a P/E ratio of 21.22 and a beta of 0.88.

Kforce (NASDAQ:KFRC - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $0.75 earnings per share for the quarter, beating 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 firm had revenue of $353.30 million during the quarter, compared to analysts' expectations of $352.19 million. During the same quarter in the previous year, the business posted $0.90 earnings per share. The business's quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts predict that Kforce Inc. will post 2.68 earnings per share for the current fiscal 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 paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.52 annualized dividend and a yield of 2.47%. Kforce's payout ratio is 52.41%.

Wall Street Analysts Forecast Growth

KFRC has been the subject of a number of recent research reports. Truist Financial reduced their target price on shares of Kforce from $68.00 to $58.00 and set a "hold" rating for the company in a research report on Tuesday, October 29th. StockNews.com upgraded Kforce from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Sidoti raised shares of Kforce from a "neutral" rating to a "buy" rating and set a $71.00 price objective for the company in a report on Tuesday, October 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.