Tributary Capital Management LLC Sells 1,404 Shares of Kforce Inc. (NASDAQ:KFRC)

Tributary Capital Management LLC lessened its holdings in Kforce Inc. (NASDAQ:KFRC) by 0.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 305,699 shares of the business services provider’s stock after selling 1,404 shares during the period. Tributary Capital Management LLC owned 1.58% of Kforce worth $18,785,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in shares of Kforce by 59.9% during the 2nd quarter. Blue Trust Inc. now owns 427 shares of the business services provider’s stock worth $27,000 after buying an additional 160 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in shares of Kforce in the third quarter valued at approximately $30,000. nVerses Capital LLC lifted its holdings in shares of Kforce by 50.0% during the second quarter. nVerses Capital LLC now owns 900 shares of the business services provider’s stock worth $56,000 after buying an additional 300 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Kforce during the 2nd quarter worth approximately $68,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Kforce by 96.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,313 shares of the business services provider’s stock valued at $82,000 after acquiring an additional 643 shares during the last quarter. Institutional investors and hedge funds own 92.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. StockNews.com raised Kforce from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Sidoti upgraded shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $68.75.

Kforce Stock Performance

Shares of KFRC stock opened at $54.55 on Monday. The stock has a market capitalization of $1.06 billion, a PE ratio of 18.88 and a beta of 0.87. The business’s 50 day simple moving average is $60.67 and its 200 day simple moving average is $62.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.33 and a quick ratio of 2.33. Kforce Inc. has a one year low of $52.96 and a one year high of $74.79.

Kforce (NASDAQ:KFRC) last released its earnings results on Monday, July 29th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.02. The business had revenue of $356.32 million for the quarter, compared to analyst estimates of $356.20 million. Kforce had a net margin of 3.56% and a return on equity of 34.89%. Kforce’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 earnings per share. As a group, research analysts forecast that Kforce Inc. will post 2.7 earnings per share for the current year.

Kforce Company 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.