Kforce Inc. (NASDAQ:KFRC) Sees Significant Growth in Short Interest

Kforce Inc. (NASDAQ:KFRCGet Rating) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totalling 406,300 shares, a growth of 23.0% from the April 30th total of 330,200 shares. Based on an average daily trading volume, of 103,700 shares, the days-to-cover ratio is presently 3.9 days. Approximately 2.0% of the shares of the stock are sold short.

Shares of NASDAQ KFRC traded down $0.24 during trading hours on Wednesday, reaching $65.44. The stock had a trading volume of 4,003 shares, compared to its average volume of 110,175. Kforce has a 52-week low of $55.94 and a 52-week high of $81.47. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 16.97 and a beta of 1.06. The business’s fifty day moving average price is $71.30 and its two-hundred day moving average price is $72.28. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.50.

Kforce (NASDAQ:KFRCGet Rating) last issued its earnings results on Monday, May 2nd. The business services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.17. The business had revenue of $416.97 million during the quarter, compared to analysts’ expectations of $408.02 million. Kforce had a return on equity of 42.52% and a net margin of 4.96%. During the same period in the prior year, the business earned $0.62 EPS. Equities research analysts anticipate that Kforce will post 4.39 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, June 10th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Thursday, June 9th. Kforce’s payout ratio is 31.01%.

Several equities research analysts have recently weighed in on the company. Truist Financial increased their price target on Kforce from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, February 8th. StockNews.com began coverage on Kforce in a research report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Zacks Investment Research upgraded shares of Kforce from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Thursday, May 5th.

In related news, CFO David M. Kelly sold 5,000 shares of Kforce stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $75.44, for a total transaction of $377,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David M. Kelly sold 417 shares of the company’s stock in a transaction dated Wednesday, March 9th. The shares were sold at an average price of $70.00, for a total transaction of $29,190.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,917 shares of company stock worth $634,765 over the last 90 days. Corporate insiders own 5.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of KFRC. IFP Advisors Inc increased its holdings in shares of Kforce by 456.1% in the 4th quarter. IFP Advisors Inc now owns 367 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 301 shares during the period. UMB Bank N A MO purchased a new position in Kforce in the fourth quarter valued at about $69,000. Koshinski Asset Management Inc. raised its holdings in Kforce by 134.5% in the fourth quarter. Koshinski Asset Management Inc. now owns 938 shares of the business services provider’s stock worth $71,000 after purchasing an additional 538 shares in the last quarter. Gladius Capital Management LP purchased a new stake in shares of Kforce during the fourth quarter valued at about $133,000. Finally, USA Financial Portformulas Corp bought a new stake in shares of Kforce in the 4th quarter valued at about $204,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

About Kforce (Get Rating)

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.

Recommended Stories

Want More Great Investing Ideas?

Receive News & Ratings for Kforce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kforce and related companies with MarketBeat.com's FREE daily email newsletter.