Jacobs Levy Equity Management Inc. Sells 39,413 Shares of Kforce Inc. (NASDAQ:KFRC)

Jacobs Levy Equity Management Inc. decreased its position in shares of Kforce Inc. (NASDAQ:KFRC - Free Report) by 51.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,435 shares of the business services provider's stock after selling 39,413 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.20% of Kforce worth $2,300,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Kforce in the 2nd quarter worth approximately $718,000. Blue Trust Inc. lifted its stake in Kforce by 59.9% in the second quarter. Blue Trust Inc. now owns 427 shares of the business services provider's stock worth $27,000 after purchasing an additional 160 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Kforce by 3.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 756,788 shares of the business services provider's stock valued at $47,020,000 after buying an additional 23,920 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of Kforce by 2.1% during the second quarter. SummerHaven Investment Management LLC now owns 12,107 shares of the business services provider's stock valued at $752,000 after buying an additional 247 shares during the last quarter. Finally, Tributary Capital Management LLC increased its holdings in shares of Kforce by 0.3% in the second quarter. Tributary Capital Management LLC now owns 307,103 shares of the business services provider's stock worth $19,080,000 after buying an additional 915 shares during the period. Institutional investors own 92.77% of the company's stock.

Kforce Trading Down 1.0 %

Shares of KFRC traded down $0.62 during mid-day trading on Friday, hitting $59.74. 93,295 shares of the company's stock traded hands, compared to its average volume of 111,609. 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 firm has a market capitalization of $1.14 billion, a P/E ratio of 20.60 and a beta of 0.88. The business's 50-day moving average price is $58.29 and its 200-day moving average price is $61.55. 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 earnings per share 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 analysts' expectations of $352.19 million. During the same quarter in the previous year, the business posted $0.90 earnings per share. The firm's revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Kforce Inc. will post 2.68 EPS for the current fiscal year.

Kforce Dividend Announcement

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

Analysts Set New Price Targets

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

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.