American Century Companies Inc. bought a new stake in Kforce Inc. (NASDAQ:KFRC) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 119,471 shares of the business services provider’s stock, valued at approximately $4,098,000. American Century Companies Inc. owned 0.46% of Kforce as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in KFRC. Ceredex Value Advisors LLC acquired a new stake in shares of Kforce in the first quarter valued at about $27,463,000. Hancock Holding Co. acquired a new stake in shares of Kforce in the first quarter valued at about $7,529,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Kforce in the second quarter valued at about $6,867,000. Matarin Capital Management LLC acquired a new stake in shares of Kforce in the first quarter valued at about $4,976,000. Finally, Acadian Asset Management LLC grew its position in shares of Kforce by 80.2% in the second quarter. Acadian Asset Management LLC now owns 352,976 shares of the business services provider’s stock valued at $12,106,000 after purchasing an additional 157,123 shares during the period. Institutional investors and hedge funds own 79.75% of the company’s stock.
NASDAQ:KFRC opened at $41.90 on Friday. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $1.10 billion, a PE ratio of 26.69 and a beta of 1.64. Kforce Inc. has a twelve month low of $17.56 and a twelve month high of $43.51.
Kforce (NASDAQ:KFRC) last posted its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The firm had revenue of $358.62 million for the quarter, compared to the consensus estimate of $358.07 million. Kforce had a net margin of 3.00% and a return on equity of 34.52%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $0.44 earnings per share. research analysts anticipate that Kforce Inc. will post 2.25 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Friday, September 7th will be paid a $0.18 dividend. This is an increase from Kforce’s previous quarterly dividend of $0.12. This represents a $0.72 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Thursday, September 6th. Kforce’s dividend payout ratio (DPR) is currently 30.57%.
In other news, SVP Jeffrey B. Hackman sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $38.00, for a total value of $38,000.00. Following the transaction, the senior vice president now directly owns 40,858 shares of the company’s stock, valued at $1,552,604. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard M. Cocchiaro sold 1,019 shares of the firm’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $42.50, for a total transaction of $43,307.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,079 shares of company stock worth $2,909,205. Insiders own 13.30% of the company’s stock.
KFRC has been the topic of several research analyst reports. SunTrust Banks lifted their target price on shares of Kforce to $44.00 and gave the company a “hold” rating in a research report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Kforce from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Saturday, August 4th. Credit Suisse Group initiated coverage on shares of Kforce in a research report on Friday, August 10th. They issued a “neutral” rating and a $38.00 target price on the stock. BidaskClub upgraded shares of Kforce from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 16th. Finally, Northcoast Research downgraded shares of Kforce from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research note on Friday, June 1st. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Kforce currently has an average rating of “Buy” and an average price target of $41.40.
Kforce Company Profile
Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS) segments. The Tech segment provides temporary staffing and permanent placement services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, project management, enterprise data management, business intelligence, artificial intelligence, machine learning, network architecture, and security.
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