Kforce Inc. (NASDAQ:KFRC) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 768,800 shares, a growth of 15.2% from the July 31st total of 667,400 shares. Approximately 3.6% of the shares of the company are short sold. Based on an average trading volume of 120,200 shares, the days-to-cover ratio is presently 6.4 days.
In related news, COO Kye L. Mitchell sold 4,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $32.74, for a total transaction of $130,960.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David M. Kelly sold 5,000 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $32.81, for a total transaction of $164,050.00. The disclosure for this sale can be found here. Insiders have sold 9,428 shares of company stock worth $309,583 in the last ninety days. 11.80% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Cutler Group LP lifted its position in Kforce by 200.0% during the 2nd quarter. Cutler Group LP now owns 2,400 shares of the business services provider’s stock worth $84,000 after buying an additional 1,600 shares in the last quarter. Qtron Investments LLC bought a new stake in Kforce during the 1st quarter worth about $215,000. Shell Asset Management Co. bought a new stake in Kforce during the 1st quarter worth about $223,000. A.R.T. Advisors LLC raised its holdings in Kforce by 9.7% during the 2nd quarter. A.R.T. Advisors LLC now owns 7,943 shares of the business services provider’s stock worth $279,000 after purchasing an additional 700 shares during the last quarter. Finally, US Bancorp DE raised its holdings in Kforce by 16.5% during the 1st quarter. US Bancorp DE now owns 8,152 shares of the business services provider’s stock worth $287,000 after purchasing an additional 1,155 shares during the last quarter. Institutional investors and hedge funds own 83.80% of the company’s stock.
Kforce stock traded up $0.54 on Friday, hitting $34.08. The company’s stock had a trading volume of 113,827 shares, compared to its average volume of 103,715. The firm has a market cap of $813.52 million, a P/E ratio of 14.40 and a beta of 1.23. The company has a quick ratio of 3.34, a current ratio of 3.34 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $33.69 and a 200-day moving average price of $35.30. Kforce has a one year low of $27.95 and a one year high of $41.08.
Kforce (NASDAQ:KFRC) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.66 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66. Kforce had a net margin of 9.73% and a return on equity of 32.02%. The firm had revenue of $338.86 million for the quarter, compared to analyst estimates of $345.81 million. During the same quarter in the previous year, the firm posted $0.65 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Analysts anticipate that Kforce will post 2.37 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.72 annualized dividend and a yield of 2.11%. Kforce’s dividend payout ratio (DPR) is 31.30%.
Kforce Company Profile
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.
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