|Over a week ago|
Kforce price target raised to $66 from $53 at Baird » 08:5905/0405/04/21
Baird analyst Mark Marcon…
Baird analyst Mark Marcon raised the firm's price target on Kforce to $66 from $53 and keeps an Outperform rating on the shares following the company's Q1 report and better than expected Q2 guidance. IT flex has proven its resiliency during the downturn and the guidance reflects an accelerating rate of improvement, said Marcon.
Kforce price target raised to $55 from $45 at Credit Suisse » 08:0905/0405/04/21
Credit Suisse analyst…
Credit Suisse analyst Kevin McVeigh raised the firm's price target on Kforce to $55 from $45 and keeps a Neutral rating on the shares. Depending on overall market conditions, the analyst expects the Kforce stock to benefit as much better Q2 overshadows in-line to better Q1.
Fly Intel: After-Hours Movers » 18:4205/0305/03/21
CHGG, CC, KFRC, RMBS, SANM, IRBT, MAXR, LGND, MOS, VNOM, VRNS, CAR, SEDG, ADUS, BOOM, HLIT
UP AFTER EARNINGSChegg…
Kforce sees Q2 EPS 87c-95c, consensus 71c » 16:0605/0305/03/21
Sees Q2 revenue…
Sees Q2 revenue $387M-$397M, consensus $349.11M. Sees Q2 effective tax rate 29.5%. The company said, "Looking forward to the second quarter of 2021, there will be 64 billing days, which is the same as the second quarter of 2020 and one more than the first quarter of 2021. Revenue per billing day in the first quarter of 2021 was $5.8 million."
Kforce reports Q1 EPS 62c, consensus 62c » 16:0305/0305/03/21
Reports Q1 revenue…
Reports Q1 revenue $363.23M, consensus $359.24M. David Dunkel, chairman and CEO, said, "I am incredibly proud of the continued outstanding execution by the entire Kforce team in delivering first quarter results that were at the high end of our expectations and improved as the quarter progressed. As I reflect on our strategic decision to focus our business on domestic technology staffing and solutions, it is important to remember that prior to the Great Recession, that market was roughly $20 billion in size and was the third largest staffing market segment behind industrial and clerical staffing. The most recent update from Staffing Industry Analysts (SIA) noted that the domestic technology staffing market was the largest market segment in 2020, with spend of nearly $31 billion. Over the same period, our technology business grew in excess of two times the market rate. Additionally, the technology professional services market, where we see significant opportunity, exceeds $100 billion. The momentum we have built and increasing expectations of demand for technology resources have significantly raised our expectations for the second quarter. Given the strength in our balance sheet and our belief in our future growth prospects, we expect to remain active in repurchasing our stock at current levels."
Kforce announces agreement to sell corporate headquarters facility » 12:0604/2704/27/21
Kforce announced that it…
Kforce announced that it entered into an agreement to sell its corporate headquarters and, upon closing, lease it back for 18 months as it looks for available space in the Tampa Bay area for its "future state-of-the-art corporate headquarters." The sale is anticipated to close in mid-May 2021. Joseph Liberatore, President, said, "The pandemic has permanently changed the way we work and has showcased our ability to thrive remotely. We believe our future lies in a technology-enabled, fully integrated hybrid work environment. This decision is not only based on our review of business data and trends, but also on feedback from multiple employee surveys where they have indicated a strong desire for less time in the office and a greater amount of flexibility. We could not be prouder of how our people have adapted and performed during this pandemic, while working 100% remotely."
Kforce CEO sells 50K shares of common stock » 16:4504/1604/16/21
In a regulatory filing,…
In a regulatory filing, Kforce disclosed that its CEO David Dunkel sold 50K shares of common stock on April 14th in a total transaction size of $2.8M, reducing his stake by about 6%.
|Over a month ago|
Kforce price target raised to $55 from $48 at Truist » 07:1703/1103/11/21
Truist analyst Tobey…
Truist analyst Tobey Sommer raised the firm's price target on Kforce to $55 from $48 but keeps a Hold rating on the shares as part of a broader research note on consulting and employment services for businesses and governments. The analyst is citing the constructive commentary at a Truist conference earlier this week along with higher market multiples for small and mid-cap equities, though he also notes that its current 18.9-times forward earnings multiple is above the 10-year historical average of 16-times.
Kforce appoints Derrick Brooks to board of directors » 07:5103/0403/04/21
Kforce announced certain…
Kforce announced certain recent additions to its Board of Directors as a result of its ongoing refreshment activities. On March 2, 2021, Derrick Brooks accepted an offer to join Kforce's Board of Directors and serve on the Board's Corporate Governance Committee, effective immediately. Mr. Brooks currently serves as the Executive Vice President of Corporate and Community Development of Vinik Sports Group. In the fourth quarter of 2020, Catherine Cloudman accepted an offer to join Kforce's Board and serve on the Board's Corporate Governance Committee. Ms. Cloudman is a board member and chairs the Personnel and Compensation Committees of both Hussey Seating Company, a manufacturer of telescopic and stadium seating, and Systems Engineering, an ESOP owned IT managed services provider, since 2015.
Kforce management to meet virtually with Truist » 09:4402/2302/23/21
Virtual Meeting to be…
Virtual Meeting to be held on February 23 hosted by Truist.