Kforce (NASDAQ:KFRC) Upgraded to Buy at StockNews.com

Kforce (NASDAQ:KFRC) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial cut their price objective on shares of Kforce from $68.00 to $58.00 and set a “hold” rating for the company in a research report on Tuesday, October 29th. Sidoti raised shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Tuesday, October 15th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.67.

Kforce Stock Performance

NASDAQ:KFRC traded down $0.98 during midday trading on Thursday, reaching $59.71. The stock had a trading volume of 406,888 shares, compared to its average volume of 114,702. Kforce has a 1-year low of $52.96 and a 1-year high of $74.79. The firm’s fifty day simple moving average is $59.11 and its 200-day simple moving average is $62.04. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 2.06. The stock has a market capitalization of $1.14 billion, a P/E ratio of 20.59 and a beta of 0.88.

Kforce (NASDAQ:KFRC) last issued its quarterly earnings results on Monday, October 28th. The business services provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.69 by $0.06. Kforce had a net margin of 3.86% and a return on equity of 33.50%. The company had revenue of $353.30 million during the quarter, compared to analysts’ expectations of $352.19 million. During the same quarter in the previous year, the company earned $0.90 EPS. Kforce’s revenue was down 5.3% on a year-over-year basis. On average, equities research analysts forecast that Kforce will post 2.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Kforce by 0.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,402,035 shares of the business services provider’s stock worth $149,238,000 after buying an additional 13,706 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of Kforce by 3.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 756,788 shares of the business services provider’s stock worth $47,020,000 after buying an additional 23,920 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Kforce by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 719,163 shares of the business services provider’s stock valued at $44,193,000 after purchasing an additional 17,087 shares during the period. Tributary Capital Management LLC raised its stake in Kforce by 0.3% in the second quarter. Tributary Capital Management LLC now owns 307,103 shares of the business services provider’s stock valued at $19,080,000 after buying an additional 915 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Kforce by 5.1% during the second quarter. Bank of New York Mellon Corp now owns 148,492 shares of the business services provider’s stock worth $9,226,000 after purchasing an additional 7,214 shares in the last quarter. 92.77% of the stock is owned by institutional investors.

About Kforce

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.