Tributary Capital Management LLC Grows Stake in Kforce Inc. (NASDAQ:KFRC)

Tributary Capital Management LLC grew its position in shares of Kforce Inc. (NASDAQ:KFRC) by 38.3% in the fourth quarter, Holdings Channel reports. The firm owned 422,930 shares of the business services provider’s stock after purchasing an additional 117,231 shares during the period. Kforce comprises approximately 1.9% of Tributary Capital Management LLC’s holdings, making the stock its 17th biggest position. Tributary Capital Management LLC’s holdings in Kforce were worth $23,980,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KFRC. TD Private Client Wealth LLC grew its position in Kforce by 58.0% in the third quarter. TD Private Client Wealth LLC now owns 496 shares of the business services provider’s stock worth $30,000 after acquiring an additional 182 shares in the last quarter. Azzad Asset Management Inc. ADV grew its position in Kforce by 1.5% in the third quarter. Azzad Asset Management Inc. ADV now owns 13,189 shares of the business services provider’s stock worth $810,000 after acquiring an additional 192 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Kforce by 6.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,154 shares of the business services provider’s stock worth $292,000 after acquiring an additional 293 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Kforce by 4.1% in the second quarter. The Manufacturers Life Insurance Company now owns 9,508 shares of the business services provider’s stock worth $591,000 after acquiring an additional 373 shares in the last quarter. Finally, Inspire Investing LLC grew its position in Kforce by 5.9% in the fourth quarter. Inspire Investing LLC now owns 7,067 shares of the business services provider’s stock worth $401,000 after acquiring an additional 394 shares in the last quarter. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KFRC has been the subject of several analyst reports. Sidoti upgraded shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Tuesday, October 15th. StockNews.com upgraded shares of Kforce from a “hold” rating to a “buy” rating in a research report on Saturday, November 30th. Finally, Truist Financial cut their price target on shares of Kforce from $68.00 to $58.00 and set a “hold” rating for the company in a research report on Tuesday, October 29th.

Kforce Stock Performance

Shares of NASDAQ:KFRC opened at $55.73 on Friday. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 19.22 and a beta of 0.89. The company has a 50-day moving average price of $57.71 and a 200-day moving average price of $60.41. 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 Inc. has a 12 month low of $52.96 and a 12 month high of $74.79.

Kforce (NASDAQ:KFRC) last released its quarterly earnings results 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. Kforce had a net margin of 3.86% and a return on equity of 33.50%. The company had revenue of $353.30 million during the quarter, compared to the consensus estimate of $352.19 million. During the same period in the prior year, the firm earned $0.90 earnings per share. Kforce’s revenue was down 5.3% on a year-over-year basis. As a group, equities analysts anticipate that Kforce Inc. will post 2.68 EPS for the current year.

Kforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Friday, December 6th. Kforce’s payout ratio is currently 52.41%.

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.