Kforce (NASDAQ:KFRC) Shares Up 4.2% Following Dividend Announcement

Shares of Kforce Inc. (NASDAQ:KFRC) were up 4.2% during trading on Wednesday following a dividend announcement from the company. The company traded as high as $39.39 and last traded at $38.13. Approximately 25,939 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 139,155 shares. The stock had previously closed at $36.59.

The newly announced dividend which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 4.06%. The ex-dividend date is Friday, June 13th. Kforce’s payout ratio is 61.18%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on KFRC shares. Truist Financial decreased their target price on shares of Kforce from $58.00 to $50.00 and set a “hold” rating on the stock in a research note on Tuesday, April 15th. UBS Group reduced their target price on shares of Kforce from $47.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday.

Kforce Trading Up 0.6 %

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 company has a market cap of $734.57 million, a P/E ratio of 14.34 and a beta of 0.76. The stock’s 50 day moving average is $47.07 and its 200-day moving average is $53.26.

Kforce (NASDAQ:KFRC) last posted its earnings results on Monday, April 28th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.03). Kforce had a net margin of 3.59% and a return on equity of 30.34%. The company had revenue of $330.03 million for the quarter, compared to the consensus estimate of $334.61 million. During the same quarter in the prior year, the company posted $0.58 EPS. Kforce’s revenue was down 6.2% on a year-over-year basis. Research analysts anticipate that Kforce Inc. will post 2.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kforce

Several hedge funds and other institutional investors have recently modified their holdings of KFRC. Atria Investments Inc boosted its holdings in shares of Kforce by 3.1% during the 4th quarter. Atria Investments Inc now owns 7,058 shares of the business services provider’s stock valued at $400,000 after purchasing an additional 209 shares during the last quarter. Access Investment Management LLC raised its position in shares of Kforce by 0.7% during the 4th quarter. Access Investment Management LLC now owns 36,605 shares of the business services provider’s stock valued at $2,076,000 after buying an additional 265 shares in the last quarter. Blue Trust Inc. raised its position in Kforce by 17.9% in the 4th quarter. Blue Trust Inc. now owns 1,810 shares of the business services provider’s stock worth $111,000 after purchasing an additional 275 shares during the period. Exchange Traded Concepts LLC raised its position in Kforce by 6.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,154 shares of the business services provider’s stock worth $292,000 after purchasing an additional 293 shares during the period. Finally, MetLife Investment Management LLC raised its position in Kforce by 2.9% in the 4th quarter. MetLife Investment Management LLC now owns 11,189 shares of the business services provider’s stock worth $634,000 after purchasing an additional 312 shares during the period. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

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.