Kforce (NASDAQ:KFRC) Hits New 1-Year Low – What’s Next?

Kforce Inc. (NASDAQ:KFRC)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $49.00 and last traded at $49.36, with a volume of 7258 shares. The stock had previously closed at $49.94.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Truist Financial lowered their price target on Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a research report on Tuesday, October 29th. StockNews.com raised Kforce from a “hold” rating to a “buy” rating in a research report on Saturday, November 30th.

Kforce Price Performance

The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average price of $55.13 and a 200 day moving average price of $58.68. The company has a market capitalization of $938.62 million, a P/E ratio of 18.36 and a beta of 0.88.

Kforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.39 per share. This is an increase from Kforce’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, March 7th. Kforce’s payout ratio is currently 56.72%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Kforce by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 758,963 shares of the business services provider’s stock worth $43,033,000 after acquiring an additional 39,800 shares during the period. Geode Capital Management LLC boosted its stake in Kforce by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 482,199 shares of the business services provider’s stock valued at $27,346,000 after purchasing an additional 1,720 shares during the period. Tributary Capital Management LLC boosted its stake in Kforce by 38.3% in the 4th quarter. Tributary Capital Management LLC now owns 422,930 shares of the business services provider’s stock valued at $23,980,000 after purchasing an additional 117,231 shares during the period. Wellington Management Group LLP boosted its stake in Kforce by 36.3% in the 4th quarter. Wellington Management Group LLP now owns 297,111 shares of the business services provider’s stock valued at $16,846,000 after purchasing an additional 79,100 shares during the period. Finally, Northern Trust Corp boosted its stake in Kforce by 5.6% in the 4th quarter. Northern Trust Corp now owns 258,765 shares of the business services provider’s stock valued at $14,672,000 after purchasing an additional 13,811 shares during the period. 92.77% of the stock is currently owned by institutional investors.

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.