744 Shares in Kforce Inc. (NASDAQ:KFRC) Bought by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Kforce Inc. (NASDAQ:KFRC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 744 shares of the business services provider’s stock, valued at approximately $42,000.

Other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Kforce by 147.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,118 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 666 shares during the last quarter. Blue Trust Inc. increased its position in Kforce by 17.9% during the fourth quarter. Blue Trust Inc. now owns 1,810 shares of the business services provider’s stock worth $111,000 after buying an additional 275 shares during the period. PNC Financial Services Group Inc. increased its position in Kforce by 23.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,547 shares of the business services provider’s stock worth $144,000 after buying an additional 485 shares during the period. Point72 Asset Management L.P. purchased a new stake in Kforce in the fourth quarter valued at approximately $145,000. Finally, QRG Capital Management Inc. acquired a new stake in shares of Kforce in the fourth quarter valued at approximately $206,000. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Kforce Price Performance

Kforce stock opened at $42.08 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 2.06. The business has a 50 day simple moving average of $44.80 and a 200-day simple moving average of $51.98. Kforce Inc. has a 12 month low of $35.50 and a 12 month high of $71.48. The stock has a market capitalization of $783.93 million, a PE ratio of 15.70 and a beta of 0.74.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings data 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 firm had revenue of $330.03 million during the quarter, compared to analyst estimates of $334.61 million. During the same period in the prior year, the firm posted $0.58 earnings per share. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. Equities analysts predict that Kforce Inc. will post 2.7 earnings per share for the current year.

Kforce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.56 annualized dividend and a yield of 3.71%. Kforce’s dividend payout ratio is currently 61.18%.

Insider Activity at Kforce

In other Kforce news, Director David L. Dunkel bought 1,000 shares of Kforce stock in a transaction on Monday, May 5th. The stock was bought at an average price of $37.80 per share, with a total value of $37,800.00. Following the completion of the acquisition, the director now owns 517,329 shares in the company, valued at $19,555,036.20. The trade was a 0.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. UBS Group cut their target price on shares of Kforce from $47.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. StockNews.com downgraded shares of Kforce from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Finally, Truist Financial reduced their target price on shares of Kforce from $58.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, April 15th.

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.