Price T Rowe Associates Inc. MD Trims Stock Position in Kforce Inc. (NASDAQ:KFRC)

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Price T Rowe Associates Inc. MD lowered its stake in shares of Kforce Inc. (NASDAQ:KFRC) by 6.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 41,319 shares of the business services provider’s stock after selling 2,949 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Kforce were worth $1,450,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake in shares of Kforce by 0.4% during the 2nd quarter. Northern Trust Corp now owns 486,762 shares of the business services provider’s stock valued at $17,081,000 after buying an additional 2,149 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Kforce during the 2nd quarter valued at about $637,000. Allianz Asset Management GmbH grew its position in shares of Kforce by 2.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 106,795 shares of the business services provider’s stock valued at $3,748,000 after acquiring an additional 2,430 shares during the period. Renaissance Technologies LLC grew its position in shares of Kforce by 22.3% during the 2nd quarter. Renaissance Technologies LLC now owns 128,149 shares of the business services provider’s stock valued at $4,497,000 after acquiring an additional 23,349 shares during the period. Finally, Alpha Windward LLC acquired a new stake in shares of Kforce during the 2nd quarter valued at about $482,000. Institutional investors and hedge funds own 83.76% of the company’s stock.

A number of equities research analysts have recently commented on the company. BidaskClub upgraded Kforce from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. Zacks Investment Research cut Kforce from a “hold” rating to a “sell” rating in a research report on Saturday, August 3rd. Finally, William Blair restated an “outperform” rating on shares of Kforce in a research report on Friday, September 20th.

In other news, CFO David M. Kelly sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $32.81, for a total transaction of $164,050.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Kye L. Mitchell sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $32.74, for a total value of $130,960.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,428 shares of company stock worth $309,583. 11.80% of the stock is currently owned by insiders.

KFRC stock opened at $37.49 on Friday. The company has a current ratio of 3.34, a quick ratio of 3.34 and a debt-to-equity ratio of 0.31. Kforce Inc. has a 12-month low of $27.95 and a 12-month high of $39.14. The stock has a market cap of $903.50 million, a price-to-earnings ratio of 15.99 and a beta of 1.24. The business’s 50-day moving average is $34.70 and its 200 day moving average is $35.32.

Kforce (NASDAQ:KFRC) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.66 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. Kforce had a return on equity of 32.02% and a net margin of 9.73%. The company had revenue of $338.86 million for the quarter, compared to analysts’ expectations of $345.81 million. During the same period in the previous year, the firm posted $0.65 EPS. Kforce’s revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts forecast that Kforce Inc. will post 2.37 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.92%. The ex-dividend date was Thursday, September 5th. Kforce’s payout ratio is 31.30%.

About Kforce

Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS) segments. The Tech segment provides temporary staffing and permanent placement services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, project management, enterprise data management, business intelligence, artificial intelligence, machine learning, network architecture, and security.

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Institutional Ownership by Quarter for Kforce (NASDAQ:KFRC)

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