Phocas Financial Corp. Trims Stake in Kforce Inc. (NASDAQ:KFRC)

Phocas Financial Corp. trimmed its position in Kforce Inc. (NASDAQ:KFRC) by 85.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,533 shares of the business services provider’s stock after selling 59,738 shares during the quarter. Phocas Financial Corp.’s holdings in Kforce were worth $597,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TD Private Client Wealth LLC boosted its position in Kforce by 58.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 496 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 182 shares in the last quarter. Blue Trust Inc. boosted its position in Kforce by 259.5% during the third quarter. Blue Trust Inc. now owns 1,535 shares of the business services provider’s stock valued at $95,000 after purchasing an additional 1,108 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Kforce by 197.3% in the third quarter. Advisors Asset Management Inc. now owns 2,396 shares of the business services provider’s stock valued at $147,000 after purchasing an additional 1,590 shares during the last quarter. Paloma Partners Management Co bought a new position in Kforce in the third quarter worth about $221,000. Finally, Heritage Family Offices LLP purchased a new stake in shares of Kforce during the fourth quarter valued at about $258,000. Institutional investors own 92.77% of the company’s stock.

Kforce Stock Up 2.3 %

NASDAQ:KFRC opened at $50.04 on Wednesday. The company’s 50 day moving average is $54.33 and its two-hundred day moving average is $58.26. The company has a market cap of $954.80 million, a PE ratio of 18.67 and a beta of 0.88. Kforce Inc. has a twelve month low of $48.03 and a twelve month high of $74.79. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16.

Kforce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.12%. This is an increase from Kforce’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, March 7th. Kforce’s dividend payout ratio is presently 58.21%.

Analysts Set New Price Targets

Several equities analysts have issued reports on KFRC shares. Truist Financial cut their price target on shares of Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a report on Tuesday, October 29th. StockNews.com raised Kforce from a “hold” rating to a “buy” rating in a research report on Saturday, November 30th.

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.