Harbor Capital Advisors Inc., an investment management firm, recently acquired a new stake in Kforce Inc., a business services provider listed on the NASDAQ stock exchange. According to their 13F filing with the Securities and Exchange Commission (SEC), Harbor Capital Advisors purchased 12,431 shares of Kforce’s stock during the second quarter of this year. The total value of their acquisition was estimated to be around $779,000. At the end of the quarter, Harbor Capital Advisors owned 0.06% of Kforce.
Kforce released its earnings results on July 31st, reporting earnings per share (EPS) of $0.95 for the quarter. However, this figure fell short of the consensus estimate by $0.03. Despite this shortfall, Kforce managed to achieve a net margin of 3.88% and a return on equity of 39.62%. The company’s revenue for the quarter amounted to $389.10 million, slightly below analysts’ expectations of $395.87 million. Unfortunately, compared to the same period last year, Kforce experienced a decrease in quarterly revenue by 10.9%. In the previous year’s corresponding quarter, Kforce had earnings per share amounting to $1.30.
Analysts have recently shared their perspectives on Kforce through various reports issued by reputable sources. One such report came from StockNews.com, which initiated coverage on Kforce and assigned a “hold” rating to its shares on August 17th. Additionally, UBS Group also weighed in on Kforce in a research note published on May 31st and gave it a “neutral” rating along with a target price of $62.00 per share.
In related news, Robert W. Baird lowered their price objective for Kforce from $65.00 to $62.00 in a report released on August 1st.
Looking ahead into future prospects, research analysts anticipate that Kforce Inc. will post earnings per share of approximately 3.28 for the current year.
Please note that this article is based on information available as of September 19, 2023, and any subsequent developments may alter the context and accuracy of the content provided.
Tsakos Energy Navigation Limited
TNP
Buy
Updated on: 29/09/2023
Financial Health
Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Buy
Price to book ratio: Neutral
DCF: Strong Buy
ROE: Neutral
Institutional Investors and Hedge Funds Show High Interest in Kforce (NASDAQ:KFRC) with Stable Stock Performance
On September 19, 2023, it was reported that a number of institutional investors and hedge funds were involved in buying and selling shares of Kforce (NASDAQ:KFRC), a business services provider. One such investor, Kayne Anderson Rudnick Investment Management LLC, acquired a stake in Kforce during the first quarter with an estimated value of $126,009,000. Charles Schwab Investment Management Inc., another institutional investor, saw its stake in Kforce increase by 97.6% during the same period. Goldman Sachs Group Inc., Millennium Management LLC, and Norges Bank were also among the institutions to acquire stakes in the company.
Notably, 92.85% of Kforce’s stock is currently owned by institutional investors and hedge funds, indicating a high level of interest from these entities.
As for Kforce’s performance in the stock market, shares opened at $57.96 on Tuesday. The company has a quick ratio and current ratio of 2.49 each, suggesting strong liquidity. The debt-to-equity ratio stands at 0.13, implying relatively low levels of debt compared to equity.
Kforce’s stock has been hovering around its fifty-day moving average of $61.15 and two-hundred day moving average of $60.89. With a market cap amounting to $1.17 billion and a P/E ratio of 18.06, Kforce appears to be valued adequately within the industry.
Regarding analysts’ opinions on KFRC shares, StockNews.com recently initiated coverage on the company with a “hold” rating recommendation while UBS Group gave it a “neutral” rating along with a target price set at $62 per share. Robert W. Baird also decreased its price objective from $65 to $62.
Furthermore, it was announced that Kforce would be paying a quarterly dividend on Friday, September 29th to shareholders recorded as of Friday, September 15th. The dividend will amount to $0.36 per share, resulting in an annualized payout ratio of 44.86% and a yield of 2.48%.
In terms of insider trading activity, Director Elaine Rosen recently sold 2,250 shares of Kforce’s stock at an average price of $57.53, amounting to a total transaction value of $129,442.50. Following the sale, Rosen now holds 13,836 shares in the company with an estimated value of approximately $795,985.08.
It is worth mentioning that this transaction was disclosed via a document filed with the Securities and Exchange Commission (SEC), which can be accessed on the SEC website.
To summarize, Kforce (NASDAQ:KFRC) has attracted significant interest from institutional investors and hedge funds. Its stock performance has been relatively stable, and analysts have provided mixed recommendations for potential investors. With a quarterly dividend payout on the horizon and recent insider selling activity by Director Elaine Rosen, it remains to be seen how these factors will impact Kforce’s future prospects.
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