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

Kforce Inc. (NASDAQ:KFRC) shares reached a new 52-week low on Monday . The company traded as low as $48.09 and last traded at $48.21, with a volume of 1402 shares changing hands. The stock had previously closed at $48.52.

Wall Street Analyst Weigh In

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

Kforce Stock Performance

The company’s 50-day moving average is $54.33 and its two-hundred day moving average is $58.26. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The company has a market cap of $954.80 million, a P/E ratio of 18.67 and a beta of 0.88.

Kforce Increases Dividend

The business also recently declared 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. The ex-dividend date is Friday, March 7th. This represents a $1.56 annualized dividend and a dividend yield of 3.12%. This is a positive change from Kforce’s previous quarterly dividend of $0.38. Kforce’s dividend payout ratio (DPR) is presently 58.21%.

Hedge Funds Weigh In On Kforce

Several institutional investors have recently bought and sold shares of the company. Marshall Wace LLP purchased a new position in shares of Kforce during the 4th quarter valued at $6,683,000. Tributary Capital Management LLC raised 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 acquiring an additional 117,231 shares during the period. Raymond James Financial Inc. purchased a new stake in Kforce during the fourth quarter valued at about $5,146,000. Proficio Capital Partners LLC bought a new position in Kforce during the fourth quarter worth about $4,951,000. Finally, Wellington Management Group LLP increased its stake in shares of Kforce by 36.3% in the fourth quarter. Wellington Management Group LLP now owns 297,111 shares of the business services provider’s stock worth $16,846,000 after purchasing an additional 79,100 shares in the last quarter. Hedge funds and other institutional investors 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.