Annex Advisory Services LLC Buys 1,162 Shares of Kforce Inc. (NASDAQ:KFRC)

Annex Advisory Services LLC lifted its position in Kforce Inc. (NASDAQ:KFRC) by 14.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,008 shares of the business services provider’s stock after buying an additional 1,162 shares during the quarter. Annex Advisory Services LLC’s holdings in Kforce were worth $560,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. SRS Capital Advisors Inc. grew its holdings in shares of Kforce by 420.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 448 shares of the business services provider’s stock worth $30,000 after purchasing an additional 362 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Kforce by 487.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 670 shares of the business services provider’s stock valued at $47,000 after buying an additional 556 shares during the period. Virtu Financial LLC bought a new position in Kforce in the 4th quarter worth $207,000. Avantax Advisory Services Inc. bought a new stake in Kforce during the first quarter valued at about $208,000. Finally, ProShare Advisors LLC raised its holdings in Kforce by 6.6% during the first quarter. ProShare Advisors LLC now owns 3,383 shares of the business services provider’s stock valued at $239,000 after acquiring an additional 209 shares during the period. 92.77% of the stock is owned by hedge funds and other institutional investors.

Kforce Stock Performance

Kforce stock traded down $0.46 during midday trading on Friday, hitting $62.87. 73,616 shares of the company’s stock were exchanged, compared to its average volume of 97,789. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 21.75 and a beta of 0.89. The firm’s 50 day simple moving average is $63.45 and its 200 day simple moving average is $65.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.33 and a current ratio of 2.33. Kforce Inc. has a 12-month low of $55.55 and a 12-month high of $74.79.

Kforce (NASDAQ:KFRC) last announced its earnings results on Monday, July 29th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. The company had revenue of $356.32 million during the quarter, compared to analysts’ expectations of $356.20 million. Kforce had a net margin of 3.56% and a return on equity of 34.89%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 earnings per share. Equities research analysts predict that Kforce Inc. will post 2.7 EPS for the current year.

Kforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.38 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.52 annualized dividend and a dividend yield of 2.42%. Kforce’s dividend payout ratio (DPR) is presently 52.60%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. StockNews.com upgraded Kforce from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird cut their price target on shares of Kforce from $72.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $68.00.

Insider Activity

In related news, insider Andrew G. Thomas sold 4,801 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $61.43, for a total value of $294,925.43. Following the sale, the insider now owns 94,095 shares of the company’s stock, valued at approximately $5,780,255.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Andrew G. Thomas sold 4,801 shares of Kforce stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $61.43, for a total value of $294,925.43. Following the transaction, the insider now owns 94,095 shares of the company’s stock, valued at approximately $5,780,255.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark F. Furlong sold 5,000 shares of Kforce stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $61.70, for a total transaction of $308,500.00. Following the completion of the transaction, the director now directly owns 26,297 shares in the company, valued at $1,622,524.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,439 shares of company stock worth $1,015,114. 5.50% of the stock is currently owned by company insiders.

Kforce 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.