Kforce (NASDAQ:KFRC) Upgraded to Buy at Zacks Investment Research
Kforce (NASDAQ:KFRC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, January 3rd. The firm presently has a $28.00 price objective on the business services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 7.49% from the stock’s current price.
According to Zacks, “kforce.com is a full-service, web-based specialty staffing firm providing flexible and permanent staffing solutions for organizations and career management for individuals in the specialty skill areas of information technology, finance & accounting, human resources, engineering, pharmaceutical, health care, legal, e-solutions consulting, scientific and insurance and investments. kforce.com offers web-based services including online resumes and job postings, interactive interviews and job placements and career management strategies (company press release). “
A number of other equities analysts have also recently weighed in on the stock. TheStreet raised shares of Kforce from a “c+” rating to a “b” rating in a research report on Monday, October 2nd. SunTrust Banks cut shares of Kforce from a “buy” rating to a “hold” rating and reduced their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, October 11th. BidaskClub lowered shares of Kforce from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 27th. ValuEngine upgraded shares of Kforce from a “hold” rating to a “buy” rating in a report on Friday, October 27th. Finally, Robert W. Baird restated a “buy” rating and set a $20.00 price objective on shares of Kforce in a report on Tuesday, September 12th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $24.83.
Kforce (NASDAQ:KFRC) last announced its quarterly earnings data on Tuesday, October 31st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. The firm had revenue of $341.05 million for the quarter, compared to analysts’ expectations of $340.67 million. Kforce had a net margin of 2.71% and a return on equity of 28.83%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. equities research analysts predict that Kforce will post 1.5 EPS for the current year.
In other news, CEO David L. Dunkel sold 6,271 shares of Kforce stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $27.00, for a total value of $169,317.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director N John Simmons sold 5,000 shares of Kforce stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $23.31, for a total transaction of $116,550.00. The disclosure for this sale can be found here. Insiders sold a total of 105,137 shares of company stock worth $2,686,362 over the last quarter. Company insiders own 13.30% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Eqis Capital Management Inc. bought a new position in shares of Kforce in the 4th quarter valued at about $259,000. Acadian Asset Management LLC boosted its holdings in shares of Kforce by 12,863.4% during the 4th quarter. Acadian Asset Management LLC now owns 47,446 shares of the business services provider’s stock worth $1,198,000 after buying an additional 47,080 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Kforce by 3.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 271,429 shares of the business services provider’s stock worth $6,854,000 after buying an additional 9,316 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Kforce by 3.0% during the 3rd quarter. California Public Employees Retirement System now owns 119,477 shares of the business services provider’s stock worth $2,413,000 after buying an additional 3,477 shares during the period. Finally, Royce & Associates LP boosted its holdings in shares of Kforce by 9.1% during the 3rd quarter. Royce & Associates LP now owns 248,374 shares of the business services provider’s stock worth $5,017,000 after buying an additional 20,700 shares during the period. 78.93% of the stock is owned by institutional investors.
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Kforce Company Profile
Kforce Inc (Kforce) is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), Finance and Accounting (FA) and Government Solutions (GS). The Company’s Tech segment includes the operations of its subsidiary Kforce Global Solutions, Inc The FA segment is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others.
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