Kforce (NASDAQ:KFRC) Sees Unusually-High Trading Volume – Here’s Why

Kforce Inc. (NASDAQ:KFRC) shares saw strong trading volume on Wednesday . 97,205 shares traded hands during mid-day trading, a decline of 5% from the previous session’s volume of 102,340 shares.The stock last traded at $57.80 and had previously closed at $57.56.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KFRC. StockNews.com raised Kforce from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Sidoti upgraded Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Kforce has a consensus rating of “Moderate Buy” and a consensus target price of $68.75.

Kforce Stock Up 0.7 %

The business’s 50 day simple moving average is $62.13 and its 200 day simple moving average is $63.30. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.13 billion, a PE ratio of 19.90 and a beta of 0.87.

Kforce (NASDAQ:KFRC) last released its quarterly earnings data on Monday, July 29th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.02. Kforce had a net margin of 3.56% and a return on equity of 34.89%. The business had revenue of $356.32 million during the quarter, compared to analyst estimates of $356.20 million. During the same quarter in the previous year, the business earned $0.95 EPS. Kforce’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, analysts forecast that Kforce Inc. will post 2.7 EPS for the current year.

Kforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Friday, September 13th. Kforce’s dividend payout ratio (DPR) is presently 52.60%.

Hedge Funds Weigh In On Kforce

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. boosted its position in shares of Kforce by 14.6% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 732,868 shares of the business services provider’s stock worth $51,682,000 after purchasing an additional 93,180 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Kforce during the 2nd quarter worth approximately $718,000. Sei Investments Co. lifted its stake in Kforce by 36.1% in the first quarter. Sei Investments Co. now owns 45,459 shares of the business services provider’s stock valued at $3,207,000 after acquiring an additional 12,050 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Kforce by 0.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,402,035 shares of the business services provider’s stock worth $149,238,000 after purchasing an additional 13,706 shares during the period. Finally, Hantz Financial Services Inc. acquired a new position in shares of Kforce during the 2nd quarter worth approximately $1,488,000. Institutional investors and hedge funds own 92.77% of the company’s stock.

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.