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

Kforce Inc. (NASDAQ:KFRC) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $49.00 and last traded at $49.36, with a volume of 7258 shares traded. The stock had previously closed at $49.94.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com upgraded Kforce from a “hold” rating to a “buy” rating in a report on Saturday, November 30th. Truist Financial cut their price objective on Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a report on Tuesday, October 29th.

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 firm has a market cap of $938.62 million, a P/E ratio of 18.36 and a beta of 0.88. The company has a fifty day moving average price of $55.13 and a two-hundred day moving average price of $58.68.

Kforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.39 per share. 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. This is a boost from Kforce’s previous quarterly dividend of $0.38. Kforce’s payout ratio is 56.72%.

Institutional Investors Weigh In On Kforce

A number of hedge funds and other institutional investors have recently bought and sold shares of KFRC. Marshall Wace LLP acquired a new stake in Kforce in the 4th quarter valued at approximately $6,683,000. Tributary Capital Management LLC raised its position 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 buying an additional 117,231 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Kforce in the 4th quarter valued at approximately $5,146,000. Proficio Capital Partners LLC acquired a new stake in Kforce in the 4th quarter valued at approximately $4,951,000. Finally, Wellington Management Group LLP raised its position 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 buying an additional 79,100 shares during the last quarter. 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.