Exchange Traded Concepts LLC acquired a new position in shares of Kforce Inc. (NASDAQ:KFRC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,128 shares of the business services provider’s stock, valued at approximately $300,000.
Several other institutional investors also recently made changes to their positions in KFRC. Federated Hermes Inc. lifted its holdings in Kforce by 21.5% during the third quarter. Federated Hermes Inc. now owns 1,970 shares of the business services provider’s stock worth $64,000 after acquiring an additional 349 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Kforce by 14,220.0% in the third quarter. Meeder Asset Management Inc. now owns 2,864 shares of the business services provider’s stock valued at $93,000 after purchasing an additional 2,844 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Kforce by 252.5% in the third quarter. BNP Paribas Arbitrage SA now owns 4,586 shares of the business services provider’s stock valued at $148,000 after purchasing an additional 3,285 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Kforce in the third quarter valued at about $207,000. Finally, Keebeck Alpha LP bought a new stake in shares of Kforce in the third quarter valued at about $223,000. 77.34% of the stock is owned by institutional investors and hedge funds.
In other Kforce news, SVP Jeffrey B. Hackman sold 1,100 shares of the stock in a transaction dated Wednesday, January 6th. The stock was sold at an average price of $44.68, for a total transaction of $49,148.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Joseph J. Liberatore sold 36,595 shares of the stock in a transaction dated Monday, December 28th. The stock was sold at an average price of $42.27, for a total value of $1,546,870.65. The disclosure for this sale can be found here. Insiders sold 58,771 shares of company stock valued at $2,484,801 over the last 90 days. 10.80% of the stock is currently owned by company insiders.
A number of analysts recently issued reports on the company. Zacks Investment Research raised Kforce from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Friday. Truist boosted their price target on Kforce from $37.00 to $48.00 in a research report on Wednesday, January 20th. Sidoti raised Kforce from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Monday, January 4th. Finally, Credit Suisse Group boosted their price target on Kforce from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 3rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Kforce has an average rating of “Buy” and an average price target of $40.71.
NASDAQ KFRC opened at $44.46 on Tuesday. The business has a fifty day moving average price of $43.28 and a two-hundred day moving average price of $36.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 2.65. Kforce Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $45.76. The stock has a market capitalization of $976.16 million, a PE ratio of 18.37 and a beta of 1.49.
Kforce (NASDAQ:KFRC) last announced its quarterly earnings results on Monday, November 2nd. The business services provider reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.06. Kforce had a return on equity of 32.56% and a net margin of 3.77%. The company had revenue of $365.40 million during the quarter, compared to analysts’ expectations of $349.84 million. During the same period in the prior year, the company earned $0.68 EPS. Kforce’s revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts expect that Kforce Inc. will post 2.52 earnings per share for the current year.
Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech) and Finance and Accounting (FA) 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, business and artificial intelligence, machine learning, network architecture, security, enterprise data, and project management.
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