Franklin Resources Inc. Has $42.71 Million Position in Kforce Inc. (NASDAQ:KFRC)

Franklin Resources Inc. cut its stake in Kforce Inc. (NASDAQ:KFRC - Free Report) by 22.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 759,809 shares of the business services provider's stock after selling 222,361 shares during the period. Franklin Resources Inc. owned approximately 3.98% of Kforce worth $42,709,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in KFRC. Blue Trust Inc. boosted its position in shares of Kforce by 59.9% during the second quarter. Blue Trust Inc. now owns 427 shares of the business services provider's stock worth $27,000 after buying an additional 160 shares during the period. Kathleen S. Wright Associates Inc. bought a new stake in Kforce in the 3rd quarter valued at approximately $30,000. TD Private Client Wealth LLC boosted its position in Kforce by 58.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 496 shares of the business services provider's stock worth $30,000 after acquiring an additional 182 shares during the last quarter. nVerses Capital LLC grew its stake in shares of Kforce by 50.0% during the 2nd quarter. nVerses Capital LLC now owns 900 shares of the business services provider's stock worth $56,000 after acquiring an additional 300 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Kforce in the second quarter valued at approximately $68,000. Institutional investors own 92.77% of the company's stock.

Wall Street Analyst Weigh In

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

Kforce Stock Performance

NASDAQ KFRC traded down $1.93 on Wednesday, reaching $56.56. The stock had a trading volume of 129,873 shares, compared to its average volume of 113,363. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 2.06. The company has a market cap of $1.08 billion, a P/E ratio of 19.50 and a beta of 0.88. The firm has a fifty day moving average of $58.53 and a two-hundred day moving average of $61.48. Kforce Inc. has a 1-year low of $52.96 and a 1-year high of $74.79.

Kforce (NASDAQ:KFRC - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The business services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.69 by $0.06. Kforce had a net margin of 3.86% and a return on equity of 33.50%. The business had revenue of $353.30 million for the quarter, compared to the consensus estimate of $352.19 million. During the same period in the prior year, the company posted $0.90 earnings per share. Kforce'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 EPS for the current year.

Kforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, December 6th. Kforce's dividend payout ratio is currently 52.41%.

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.