Public Employees Retirement Association of Colorado lowered its position in Kforce, Inc. (NASDAQ:KFRC) by 14.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 397,136 shares of the business services provider’s stock after selling 64,618 shares during the period. Public Employees Retirement Association of Colorado owned 1.57% of Kforce worth $8,022,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Aperio Group LLC acquired a new position in Kforce during the third quarter valued at approximately $216,000. First Trust Advisors LP acquired a new position in Kforce during the third quarter valued at approximately $380,000. Nationwide Fund Advisors grew its holdings in Kforce by 7.5% during the third quarter. Nationwide Fund Advisors now owns 47,099 shares of the business services provider’s stock valued at $951,000 after purchasing an additional 3,292 shares during the last quarter. Frontier Investment Mgmt Co. grew its holdings in Kforce by 7.7% during the second quarter. Frontier Investment Mgmt Co. now owns 216,246 shares of the business services provider’s stock valued at $4,238,000 after purchasing an additional 15,402 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in Kforce by 483.3% during the second quarter. Public Employees Retirement System of Ohio now owns 115,096 shares of the business services provider’s stock valued at $2,256,000 after purchasing an additional 95,364 shares during the last quarter. Hedge funds and other institutional investors own 79.23% of the company’s stock.
In other news, CFO David M. Kelly sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $24.05, for a total transaction of $360,750.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director N John Simmons sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $23.31, for a total value of $116,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 43,700 shares of company stock worth $1,008,295 in the last quarter. 13.30% of the stock is currently owned by company insiders.
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Several equities research analysts have recently issued reports on KFRC shares. TheStreet upgraded shares of Kforce from a “c+” rating to a “b” rating in a research note on Monday, October 2nd. Northcoast Research upgraded shares of Kforce from a “neutral” rating to a “buy” rating in a research note on Monday, November 6th. Robert W. Baird reaffirmed a “buy” rating and issued a $25.00 target price on shares of Kforce in a research report on Friday, November 3rd. ValuEngine raised Kforce from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. Finally, SunTrust Banks, Inc. cut Kforce from a “buy” rating to a “hold” rating and reduced their target price for the stock from $23.00 to $22.00 in a research report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $24.20.
Shares of Kforce, Inc. (KFRC) opened at $24.15 on Tuesday. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $639.18, a PE ratio of 16.25 and a beta of 1.56. Kforce, Inc. has a 12-month low of $16.75 and a 12-month high of $26.95.
Kforce (NASDAQ:KFRC) last posted its earnings results on Tuesday, October 31st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. The company had revenue of $341.05 million during the quarter, compared to analyst estimates of $340.67 million. Kforce had a return on equity of 28.83% and a net margin of 2.71%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 EPS. analysts anticipate that Kforce, Inc. will post 1.5 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, December 7th. Kforce’s dividend payout ratio (DPR) is presently 33.80%.
Kforce Inc (Kforce) is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), Finance and Accounting (FA) and Government Solutions (GS). The Company’s Tech segment includes the operations of its subsidiary Kforce Global Solutions, Inc The FA segment is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others.
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