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Aptus Capital Advisors LLC Reduces Its Position in Kforce Inc. (NASDAQ:KFRC)

Aptus Capital Advisors LLC Reduces Its Position in Kforce Inc. (NASDAQ:KFRC)

The most recent filing that Aptus Capital Advisors LLC made with the Securities and Exchange Commission (SEC) revealed that the company’s holdings in Kforce Inc. (NASDAQ: KFRC) were reduced during the third quarter. This information was provided in response to questions posed by the SEC. The fund ended up with a total of 48,047 shares of the business services provider’s stock after selling 12,746 shares of stock throughout the period. At the end of the most recent fiscal quarter, the value of Aptus Capital Advisors LLC’s holdings in Kforce, which amounted to approximately 0.23% of the company, was $2,818,000.

Several other institutional investors and hedge funds recently altered the percentage of their holdings allocated to KFRC. These changes were made in response to recent events. During the second quarter, the investment portfolio managed by Polaris Capital Management LLC saw a 5,905.3% increase in the percentage of its holdings allocated to Kforce. After purchasing an additional 1,186,612 shares throughout the period, Polaris Capital Management LLC now has 1,206,706 shares of the company’s stock, valued at $50,935,000. These shares were acquired following the purchase of an additional 1,186,612 shares. Goldman Sachs Group Inc. increased the percentage of Kforce in which it is invested by 325.2 percent during the second quarter. After purchasing 226,722 shares, Goldman Sachs Group Inc. now has 296,439 shares of the business services provider’s stock. These shares have a combined value of $18,183,000, and the company now holds 296 439 shares of the business services provider’s stock. Millennium Management LLC increased the percentage of Kforce in which it is invested by 420.3% during the second quarter of the year. After making additional purchases throughout the period, Millennium Management LLC now has 250,691 shares of the business services provider’s stock. These additional purchases were made throughout the period. These shares are currently worth a total of $15,377,000 as of right now. The investment portfolio managed by Lazard Asset Management LLC saw a 1,345.6% increase in its holdings of Kforce during the first three months of this year. Lazard Asset Management LLC now has 144,574 shares of the business services provider’s stock, valued at $10,694,000, after purchasing 134,573 shares during the period in question. This brings the total number of shares owned by the company to 144,574. In the final turn of events, Renaissance Technologies LLC increased the percentage of Kforce shares that it owned by 311.9 percent during the second quarter. Renaissance Technologies LLC now has a total of 160,449 shares of the business services provider’s stock, valued at $9,842,000, after making an additional purchase of 121,500 shares during the period in question. Most of the stock is owned by institutional investors, accounting for 88.09 percent of the total.

When trading started on Tuesday, the price of a share of Kforce’s stock was $58.25. The stock has traded at a moving average price of $55.91 over the past 50 trading days, while the price has averaged $58.45 over the last 200 trading days. The stock currently has a price-to-earnings ratio of 13.55 and a beta value of 0.93. The value of the company’s stock on the market is equivalent to $1.21 billion. The current stock price of Kforce, Inc. is $78.15, which is the same as both the company’s one-year high and it’s one-year low.

Kforce (NASDAQ: KFRC) disseminated the findings of its most recent quarterly earnings report on October 31st, which was a Monday. The company that offers business services announced earnings of $1.09 per share for the quarter, which is $0.02 higher than the analysts’ consensus estimate of $1.07 per share for the company’s earnings. The actual revenue brought in for the company during the quarter is $437.62 million, which is higher than the forecasted amount of $432.42 million in revenue for the quarter. The return on equity for Kforce was 44.12%, and the net margin for the company was 5.23%. Compared to the previous year, the company’s quarterly sales growth rate was 8.7% higher than average. Profits per share for the company came in at $0.96 for the same period the year before. According to the consensus of industry experts, Kforce Inc. will end the current financial year with earnings of $4.24 per share.

The company announced a quarterly dividend, and it was distributed on December 23rd. In addition, the company announced the dividend. On Friday, December 9th, $0.30 dividend payments per share were mailed out to stockholders who already had their information on file. As of December 8th, it was considered that this dividend had been paid out in its entirety. A calculation performed annually reveals that this equates to a dividend payment of $1.20 and a yield of 2.06%. Currently, 27.91% of Kforce’s earnings are distributed to shareholders as dividends.

Recently, numerous research companies have expressed an interest in collaborating with KFRC on various projects. William Blair downgraded their recommendation for Kforce from “outperform” to “market perform” in a research report published on November 25th. Since October 28th, the recommendation that has placed on Kforce has changed from “buy” to “buy.”

The professional staffing services and products offered by Kforce Inc. are available to customers in the United States of America. It is organized into two functional sections, namely technology and finance and accounting, and both work in tandem (FA). The Technology Division is primarily responsible for providing its clients with talent solutions in fields related to information technology. These fields include, but are not limited to: business and artificial intelligence; machine learning; project and program management; architecture and development of systems and applications; data management and analytics; and so on.


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