Franklin Resources Inc. Has $42.71 Million Position in Kforce Inc. (NASDAQ:KFRC)

Franklin Resources Inc. reduced its holdings in Kforce Inc. (NASDAQ:KFRC) by 22.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 759,809 shares of the business services provider’s stock after selling 222,361 shares during the quarter. Franklin Resources Inc.’s holdings in Kforce were worth $42,709,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Kforce by 59.9% in the 2nd quarter. Blue Trust Inc. now owns 427 shares of the business services provider’s stock valued at $27,000 after buying an additional 160 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of Kforce in the 3rd quarter valued at about $30,000. TD Private Client Wealth LLC grew its position in shares of Kforce by 58.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 496 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 182 shares during the period. nVerses Capital LLC grew its position in shares of Kforce by 50.0% in the 2nd quarter. nVerses Capital LLC now owns 900 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 300 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Kforce during the 2nd quarter worth about $68,000. 92.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KFRC. Truist Financial dropped their price objective on shares of Kforce from $68.00 to $58.00 and set a “hold” rating for the company in a research note on Tuesday, October 29th. 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 note on Tuesday, October 15th. Finally, StockNews.com upgraded shares of Kforce from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th.

Kforce Price Performance

Shares of NASDAQ:KFRC opened at $58.53 on Wednesday. The firm has a 50 day moving average of $58.47 and a 200-day moving average of $61.50. The stock has a market capitalization of $1.12 billion, a PE ratio of 20.17 and a beta of 0.88. 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 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. Kforce had a net margin of 3.86% and a return on equity of 33.50%. The business had revenue of $353.30 million during the quarter, compared to analysts’ expectations of $352.19 million. During the same period in the prior year, the company earned $0.90 EPS. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts predict that Kforce Inc. will post 2.68 EPS for the current fiscal year.

Kforce Dividend Announcement

The company 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 $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Friday, December 6th. Kforce’s dividend 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.