Kforce Inc. (NASDAQ:KFRC) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its holdings in Kforce Inc. (NASDAQ:KFRC) by 197.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,396 shares of the business services provider’s stock after acquiring an additional 1,590 shares during the period. Advisors Asset Management Inc.’s holdings in Kforce were worth $147,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Kforce by 0.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,402,035 shares of the business services provider’s stock valued at $149,238,000 after purchasing an additional 13,706 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Kforce by 3.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 756,788 shares of the business services provider’s stock valued at $47,020,000 after acquiring an additional 23,920 shares in the last quarter. Tributary Capital Management LLC increased its position in shares of Kforce by 0.3% during the second quarter. Tributary Capital Management LLC now owns 307,103 shares of the business services provider’s stock worth $19,080,000 after acquiring an additional 915 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Kforce by 5.1% in the second quarter. Bank of New York Mellon Corp now owns 148,492 shares of the business services provider’s stock worth $9,226,000 after acquiring an additional 7,214 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in shares of Kforce by 3.8% in the third quarter. Raymond James & Associates now owns 98,253 shares of the business services provider’s stock worth $6,038,000 after acquiring an additional 3,560 shares in the last quarter. Institutional investors and hedge funds own 92.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on KFRC shares. StockNews.com upgraded Kforce from a “hold” rating to a “buy” rating in a report on Saturday. Sidoti raised shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Tuesday, October 15th. Finally, Truist Financial decreased their price objective on shares of Kforce from $68.00 to $58.00 and set a “hold” rating for the company in a report on Tuesday, October 29th.

Kforce Price Performance

Shares of KFRC opened at $59.99 on Friday. Kforce Inc. has a 52 week low of $52.96 and a 52 week high of $74.79. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 20.69 and a beta of 0.88. The stock has a 50 day moving average of $58.36 and a 200-day moving average of $61.70.

Kforce (NASDAQ:KFRC) last released its earnings results on Monday, October 28th. The business services provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.06. The firm had revenue of $353.30 million during the quarter, compared to analyst estimates of $352.19 million. Kforce had a net margin of 3.86% and a return on equity of 33.50%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 earnings per share. As a group, analysts forecast that Kforce Inc. will post 2.68 EPS for the current year.

Kforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a yield of 2.53%. Kforce’s dividend payout ratio is currently 52.41%.

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.