NewEdge Wealth LLC Trims Stock Holdings in Kforce Inc. (NASDAQ:KFRC)

NewEdge Wealth LLC reduced its holdings in Kforce Inc. (NASDAQ:KFRC) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 16,748 shares of the business services provider’s stock after selling 318 shares during the quarter. NewEdge Wealth LLC’s holdings in Kforce were worth $1,131,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in Kforce by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 139,436 shares of the business services provider’s stock valued at $10,315,000 after acquiring an additional 704 shares during the period. US Bancorp DE boosted its position in shares of Kforce by 4.8% in the first quarter. US Bancorp DE now owns 8,023 shares of the business services provider’s stock worth $593,000 after buying an additional 367 shares during the period. Bank of Montreal Can boosted its position in Kforce by 0.7% during the first quarter. Bank of Montreal Can now owns 25,409 shares of the business services provider’s stock valued at $1,917,000 after purchasing an additional 184 shares during the last quarter. MetLife Investment Management LLC boosted its position in Kforce by 54.3% during the first quarter. MetLife Investment Management LLC now owns 11,075 shares of the business services provider’s stock valued at $819,000 after purchasing an additional 3,897 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Kforce by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 819,920 shares of the business services provider’s stock valued at $60,651,000 after purchasing an additional 12,263 shares during the last quarter. 92.77% of the stock is currently owned by institutional investors and hedge funds.

Kforce Stock Down 0.6 %

Shares of KFRC opened at $64.46 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.37 and a quick ratio of 2.37. The business’s 50 day simple moving average is $68.91 and its 200-day simple moving average is $66.17. Kforce Inc. has a one year low of $50.89 and a one year high of $74.79. The company has a market capitalization of $1.26 billion, a P/E ratio of 20.59 and a beta of 0.85.

Kforce (NASDAQ:KFRC) last issued its earnings results on Monday, February 5th. The business services provider reported $0.82 EPS for the quarter, beating 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 during 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 business’s revenue for the quarter was down 13.4% compared to the same quarter last year. As a group, sell-side analysts predict that Kforce Inc. will post 3.02 EPS for the current fiscal year.

Kforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.38 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Kforce’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 2.36%. Kforce’s dividend payout ratio is presently 48.56%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Truist Financial lifted their price objective on Kforce from $57.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. StockNews.com lowered Kforce from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Finally, Robert W. Baird lifted their price objective on Kforce from $62.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Kforce presently has an average rating of “Hold” and a consensus price target of $68.33.

Kforce 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.