US Bancorp DE Has $287,000 Position in Kforce Inc. (NASDAQ:KFRC)

US Bancorp DE increased its holdings in Kforce Inc. (NASDAQ:KFRC) by 16.5% in the first quarter, HoldingsChannel.com reports. The firm owned 8,152 shares of the business services provider’s stock after buying an additional 1,155 shares during the quarter. US Bancorp DE’s holdings in Kforce were worth $287,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Meeder Asset Management Inc. increased its stake in Kforce by 143.3% during the 1st quarter. Meeder Asset Management Inc. now owns 2,506 shares of the business services provider’s stock worth $88,000 after buying an additional 1,476 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Kforce by 12.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,654 shares of the business services provider’s stock worth $113,000 after buying an additional 396 shares in the last quarter. Legal & General Group Plc increased its stake in Kforce by 19.6% during the 4th quarter. Legal & General Group Plc now owns 4,301 shares of the business services provider’s stock worth $133,000 after buying an additional 706 shares in the last quarter. United Services Automobile Association increased its stake in Kforce by 11.4% during the 4th quarter. United Services Automobile Association now owns 6,601 shares of the business services provider’s stock worth $204,000 after buying an additional 676 shares in the last quarter. Finally, Raymond James & Associates purchased a new stake in Kforce during the 1st quarter worth approximately $225,000. 82.72% of the stock is owned by institutional investors.

NASDAQ:KFRC opened at $36.41 on Friday. Kforce Inc. has a 12 month low of $27.95 and a 12 month high of $43.51. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.47. The company has a market cap of $925.54 million, a price-to-earnings ratio of 15.69 and a beta of 1.28.

Kforce (NASDAQ:KFRC) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). The company had revenue of $326.70 million during the quarter, compared to analysts’ expectations of $329.80 million. Kforce had a net margin of 5.41% and a return on equity of 35.26%. Kforce’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.37 earnings per share. Equities research analysts forecast that Kforce Inc. will post 2.4 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.98%. Kforce’s dividend payout ratio (DPR) is presently 31.30%.

KFRC has been the subject of several research reports. BidaskClub upgraded Kforce from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. ValuEngine lowered Kforce from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Finally, Zacks Investment Research lowered Kforce from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $42.00.

In other news, Director Gordon Tunstall sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $34.98, for a total value of $104,940.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director N John Simmons sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $35.00, for a total value of $52,500.00. The disclosure for this sale can be found here. Insiders sold 29,500 shares of company stock valued at $1,051,990 over the last 90 days. Company insiders own 11.80% of the company’s stock.

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About Kforce

Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS) segments. The Tech segment provides temporary staffing and permanent placement services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, project management, enterprise data management, business intelligence, artificial intelligence, machine learning, network architecture, and security.

Further Reading: Green Investing

Want to see what other hedge funds are holding KFRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kforce Inc. (NASDAQ:KFRC).

Institutional Ownership by Quarter for Kforce (NASDAQ:KFRC)

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