American Century Companies Inc. Trims Position in Kforce Inc. (NASDAQ:KFRC)

American Century Companies Inc. cut its holdings in shares of Kforce Inc. (NASDAQ:KFRC) by 14.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 71,648 shares of the business services provider’s stock after selling 12,578 shares during the quarter. American Century Companies Inc. owned 0.36% of Kforce worth $4,275,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ronald Blue Trust Inc. grew its stake in shares of Kforce by 352.1% during the 3rd quarter. Ronald Blue Trust Inc. now owns 434 shares of the business services provider’s stock worth $27,000 after purchasing an additional 338 shares during the period. Coppell Advisory Solutions Corp. acquired a new stake in shares of Kforce during the 4th quarter worth approximately $56,000. Point72 Middle East FZE acquired a new stake in shares of Kforce during the 4th quarter worth approximately $59,000. Tower Research Capital LLC TRC grew its stake in shares of Kforce by 125.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,083 shares of the business services provider’s stock worth $65,000 after purchasing an additional 602 shares during the period. Finally, Quantbot Technologies LP grew its stake in shares of Kforce by 83.3% during the 2nd quarter. Quantbot Technologies LP now owns 1,100 shares of the business services provider’s stock worth $67,000 after purchasing an additional 500 shares during the period. 92.77% of the stock is owned by hedge funds and other institutional investors.

Kforce Trading Up 1.1 %

Shares of KFRC opened at $69.97 on Thursday. Kforce Inc. has a 52-week low of $50.89 and a 52-week high of $74.79. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.26. The firm’s fifty day moving average is $69.21 and its two-hundred day moving average is $65.30. The stock has a market cap of $1.37 billion, a PE ratio of 22.35 and a beta of 0.85.

Kforce (NASDAQ:KFRC) last announced its earnings results on Monday, February 5th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.03. Kforce had a net margin of 3.99% and a return on equity of 38.24%. The company had revenue of $363.45 million for the quarter, compared to analysts’ expectations of $363.29 million. During the same quarter in the previous year, the company posted $0.93 EPS. The firm’s quarterly revenue was down 13.4% on a year-over-year basis. Research analysts forecast that Kforce Inc. will post 3.02 earnings per share for the current fiscal year.

Kforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, March 14th. This is a boost from Kforce’s previous quarterly dividend of $0.36. Kforce’s payout ratio is 48.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Sidoti cut shares of Kforce from a “buy” rating to a “neutral” rating in a research note on Friday, December 1st. Truist Financial lifted their price target on shares of Kforce from $57.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Robert W. Baird lifted their price target on shares of Kforce from $62.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Finally, StockNews.com cut shares of Kforce from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $68.33.

Kforce Company 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.