Raymond James Financial Inc. Makes New Investment in Kforce Inc. (NASDAQ:KFRC)

Raymond James Financial Inc. purchased a new position in shares of Kforce Inc. (NASDAQ:KFRC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 90,755 shares of the business services provider's stock, valued at approximately $5,146,000. Raymond James Financial Inc. owned 0.48% of Kforce as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. TD Private Client Wealth LLC lifted its holdings in shares of Kforce by 58.0% during 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. Blue Trust Inc. lifted its stake in Kforce by 17.9% during the 4th quarter. Blue Trust Inc. now owns 1,810 shares of the business services provider's stock valued at $111,000 after acquiring an additional 275 shares during the period. Advisors Asset Management Inc. lifted its stake in Kforce by 197.3% during the 3rd 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. QRG Capital Management Inc. purchased a new stake in shares of Kforce in the 4th quarter valued at $206,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Kforce in the third quarter worth $221,000. Hedge funds and other institutional investors own 92.77% of the company's stock.

Kforce Stock Performance

Kforce stock traded down $0.49 during mid-day trading on Friday, hitting $49.03. The company had a trading volume of 70,268 shares, compared to its average volume of 115,407. The company has a market capitalization of $937.09 million, a price-to-earnings ratio of 18.30 and a beta of 0.83. Kforce Inc. has a 12-month low of $47.63 and a 12-month high of $71.48. The company's fifty day moving average is $51.43 and its 200-day moving average is $55.95. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.39 dividend. This is a positive change from Kforce's previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Friday, March 7th. Kforce's dividend payout ratio (DPR) is presently 58.21%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Kforce from a "hold" rating to a "buy" rating in a research report on Saturday, November 30th.

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.