New South Capital Management Inc. Sells 4,922 Shares of Kforce Inc. (NASDAQ:KFRC)

New South Capital Management Inc. trimmed its position in Kforce Inc. (NASDAQ:KFRC) by 1.0% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 503,972 shares of the business services provider’s stock after selling 4,922 shares during the period. Kforce comprises approximately 1.3% of New South Capital Management Inc.’s holdings, making the stock its 27th largest holding. New South Capital Management Inc.’s holdings in Kforce were worth $30,969,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. lifted its position in Kforce by 59.9% during the 2nd quarter. Blue Trust Inc. now owns 427 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 160 shares during the period. Kathleen S. Wright Associates Inc. bought a new stake in shares of Kforce during the third quarter worth approximately $30,000. nVerses Capital LLC lifted its holdings in Kforce by 50.0% in the second quarter. nVerses Capital LLC now owns 900 shares of the business services provider’s stock valued at $56,000 after buying an additional 300 shares during the period. Canada Pension Plan Investment Board bought a new position in Kforce in the second quarter valued at approximately $68,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Kforce by 96.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,313 shares of the business services provider’s stock worth $82,000 after acquiring an additional 643 shares during the period. 92.77% of the stock is owned by institutional investors and hedge funds.

Kforce Stock Down 1.0 %

Shares of KFRC stock traded down $0.62 during trading hours on Tuesday, hitting $61.29. 619 shares of the company were exchanged, compared to its average volume of 112,922. The company has a market capitalization of $1.17 billion, a PE ratio of 21.45 and a beta of 0.88. Kforce Inc. has a 52 week low of $52.96 and a 52 week high of $74.79. The business has a 50 day moving average of $59.33 and a two-hundred day moving average of $62.09. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16.

Kforce (NASDAQ:KFRC) last posted its quarterly earnings data on Monday, October 28th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The business had revenue of $353.30 million during the quarter, compared to the consensus estimate of $352.19 million. Kforce had a return on equity of 33.50% and a net margin of 3.86%. Kforce’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. Analysts anticipate that Kforce Inc. will post 2.68 earnings per share for the current fiscal year.

Kforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.48%. Kforce’s dividend payout ratio is 52.41%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KFRC. StockNews.com cut Kforce from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Sidoti upgraded shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Tuesday, October 15th. Finally, Truist Financial reduced their target price on Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Kforce has a consensus rating of “Moderate Buy” and an average target price of $66.67.

Kforce Company Profile

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.