Kforce (NASDAQ:KFRC) Sets New 12-Month Low - Here's What Happened

Kforce Inc. (NASDAQ:KFRC - Get Free Report) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $50.97 and last traded at $51.47, with a volume of 117480 shares trading hands. The stock had previously closed at $51.30.

Analyst Upgrades and Downgrades

KFRC has been the subject of a number of research reports. 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 Kforce from $68.00 to $58.00 and set a "hold" rating on the stock in a report on Tuesday, October 29th.

Kforce Trading Down 0.5 %

The company has a fifty day simple moving average of $55.80 and a two-hundred day simple moving average of $59.06. 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 capitalization of $953.90 million, a P/E ratio of 18.65 and a beta of 0.88.

Kforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Kforce's previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.12%. Kforce's payout ratio is presently 56.72%.

Hedge Funds Weigh In On Kforce

Institutional investors have recently made changes to their positions in the business. TD Private Client Wealth LLC increased its stake in shares of Kforce by 58.0% in the third quarter. TD Private Client Wealth LLC now owns 496 shares of the business services provider's stock worth $30,000 after purchasing an additional 182 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Kforce by 147.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,118 shares of the business services provider's stock worth $63,000 after purchasing an additional 666 shares during the period. Blue Trust Inc. increased its stake in shares of Kforce by 259.5% in the third quarter. Blue Trust Inc. now owns 1,535 shares of the business services provider's stock worth $95,000 after purchasing an additional 1,108 shares during the period. PNC Financial Services Group Inc. increased its stake in Kforce by 23.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,547 shares of the business services provider's stock valued at $144,000 after acquiring an additional 485 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in Kforce by 197.3% during the third quarter. Advisors Asset Management Inc. now owns 2,396 shares of the business services provider's stock valued at $147,000 after acquiring an additional 1,590 shares during the period. 92.77% of the stock is currently owned by institutional investors.

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.