Intersect Capital LLC cut its holdings in Kforce Inc. (NASDAQ:KFRC – Get Rating) by 17.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,640 shares of the business services provider's stock after selling 795 shares during the period. Intersect Capital LLC's holdings in Kforce were worth $223,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. purchased a new position in Kforce in the 2nd quarter worth approximately $45,000. Quantbot Technologies LP increased its stake in Kforce by 83.3% in the 2nd quarter. Quantbot Technologies LP now owns 1,100 shares of the business services provider's stock worth $67,000 after acquiring an additional 500 shares during the last quarter. EMC Capital Management increased its stake in Kforce by 50.9% in the 2nd quarter. EMC Capital Management now owns 1,676 shares of the business services provider's stock worth $103,000 after acquiring an additional 565 shares during the last quarter. Gladius Capital Management LP increased its stake in Kforce by 26.1% in the 2nd quarter. Gladius Capital Management LP now owns 1,989 shares of the business services provider's stock worth $123,000 after acquiring an additional 412 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Kforce in the 2nd quarter worth approximately $182,000. 94.26% of the stock is owned by hedge funds and other institutional investors.
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Wall Street Analyst Weigh In
KFRC has been the topic of several analyst reports. StockNews.com downgraded Kforce from a "strong-buy" rating to a "buy" rating in a research report on Friday, October 28th. William Blair downgraded Kforce from an "outperform" rating to a "market perform" rating in a research report on Friday, November 25th.
Kforce Stock Down 4.5 %
Shares of Kforce stock opened at $51.98 on Friday. The stock's fifty day moving average is $58.31 and its two-hundred day moving average is $59.72. The company has a market capitalization of $1.08 billion, a PE ratio of 12.09 and a beta of 0.92. Kforce Inc. has a 52 week low of $49.35 and a 52 week high of $78.15.
Kforce (NASDAQ:KFRC – Get Rating) last announced its quarterly earnings data on Monday, October 31st. The business services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $437.62 million for the quarter, compared to the consensus estimate of $432.42 million. Kforce had a return on equity of 44.12% and a net margin of 5.23%. Kforce's quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 EPS. As a group, research analysts anticipate that Kforce Inc. will post 4.16 earnings per share for the current year.
Kforce Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, December 9th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, December 8th. Kforce's dividend payout ratio (DPR) is presently 27.91%.
Kforce Company Profile
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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.
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