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KFRC Kforce

Kforce Inc. is a domestic professional staffing services and solutions firm that specializes in the areas of Technology and Finance and Accounting. Each year, through its network of field offices located throughout the U.S. and two national delivery centers, Kforce provides opportunities for over 30,000 highly skilled professionals who work with over 3,000 clients, including a significant majority of the Fortune 500. Kforce promises to deliver great results through strategic partnership and knowledge sharing.

Company profile

Ticker
KFRC
Exchange
Website
CEO
David Dunkel
Employees
Incorporated
Location
Fiscal year end
Former names
KFORCE INC, KFORCE COM INC, ROMAC INTERNATIONAL INC
SEC CIK
IRS number
593264661

KFRC stock data

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Calendar

5 May 21
4 Aug 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Kforce earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 101.34M 101.34M 101.34M 101.34M 101.34M 101.34M
Cash burn (monthly) 715K (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 2.96M n/a n/a n/a n/a n/a
Cash remaining 98.38M n/a n/a n/a n/a n/a
Runway (months of cash) 137.6 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
11 Jun 21 Derrick Dewan Brooks Common Stock Other Aquire J No No 0 8 0 2,237
11 Jun 21 Dunwoody Ann E. RSU Common Stock Other Aquire J No No 0 21 0 5,905
11 Jun 21 Catherine Cloudman RSU Common Stock Other Aquire J No No 0 8 0 2,237
11 Jun 21 Furlong Mark F Common Stock Other Aquire J No No 0 8 0 26,712
11 Jun 21 Mehl Randall RSU Common Stock Other Aquire J No No 0 46 0 12,700

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

82.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 168 160 +5.0%
Opened positions 24 17 +41.2%
Closed positions 16 16
Increased positions 49 49
Reduced positions 74 73 +1.4%
13F shares
Current Prev Q Change
Total value 1.53B 756.4M +102.5%
Total shares 18.08M 17.97M +0.6%
Total puts 3.4K 0 NEW
Total calls 125.3K 126.1K -0.6%
Total put/call ratio 0.0
Largest owners
Shares Value Change
BLK Blackrock 2.24M $119.98M +4.6%
Vanguard 2.11M $113.02M +2.9%
FMR 1.67M $89.43M +7.7%
BEN Franklin Resources 972.39K $52.12M -0.7%
Dimensional Fund Advisors 869.08K $46.56M -11.1%
Acadian Asset Management 610.87K $32.74M +8.1%
FIL 590.38K $31.65M +45.4%
LSV Asset Management 435.29K $23.33M -3.7%
STT State Street 429.22K $23.01M -2.0%
Nuveen Asset Management 424.18K $22.74M +2.3%
Largest transactions
Shares Bought/sold Change
Artemis Investment Management 227.87K +227.87K NEW
FIL 590.38K +184.27K +45.4%
Phocas Financial 122.92K +122.92K NEW
FMR 1.67M +118.74K +7.7%
Dimensional Fund Advisors 869.08K -108.61K -11.1%
NTRS Northern Trust 312.14K -101.2K -24.5%
BLK Blackrock 2.24M +98.95K +4.6%
Jacobs Levy Equity Management 61.9K -89.27K -59.1%
Canada Pension Plan Investment Board 0 -87K EXIT
GS Goldman Sachs 130.44K -85.07K -39.5%

Financial report summary

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Competition
ManpowerGroup
Risks
  • The COVID-19 economic and health crisis may have a material adverse effect on our business and financial results.
  • Kforce may not be able to recruit and retain qualified consultants and candidates.
  • Kforce faces significant employment-related legal risk.
  • Our failure to keep pace with technological change in our industry could potentially place us at a competitive disadvantage.
  • Declines in business or a loss of our major client accounts could have a material adverse effect on our revenues and financial results.
  • Kforce may be exposed to unforeseeable negative acts by our personnel that could have a material adverse effect on our business.
  • Kforce’s success depends upon retaining the services of its management team and key operating employees.
  • Kforce depends on the proper functioning of its information systems.
  • Kforce’s current market share may decrease as a result of limited barriers to entry for new competitors and discontinuation of clients outsourcing their staffing needs.
  • Kforce may be adversely affected by immigration restrictions and reform.
  • Reclassification of our independent contractors by tax or regulatory authorities could have a material adverse effect on our business model and/or could require us to pay significant retroactive wages, taxes and penalties.
  • Significant increases in wages or payroll-related costs could have a material adverse effect on our financial results.
  • Adverse results in tax audits or interpretations of tax laws could have an adverse impact on our business.
  • Kforce maintains debt that exposes us to interest rate risk and contains restrictive covenants that could trigger prepayment of obligations or additional costs.
  • The U.S. professional staffing industry in which we operate is significantly affected by fluctuations in general economic and employment conditions.
  • Kforce may be adversely affected by government regulation of the staffing business and of the workplace.
  • Provisions in Kforce’s articles and bylaws and Florida law may have certain anti-takeover effects.
  • New business initiatives and strategic changes may divert management’s attention from normal business operations, which could have an adverse effect on our performance.
  • Kforce’s stock price may be volatile.
Management Discussion
  • Flex Revenue. The key drivers of Flex revenue are the number of consultants on assignment, billable hours, the bill rate per hour and, to a limited extent, the amount of billable expenses incurred by Kforce.
  • Flex revenue for Tech increased 6.3% on a billing day basis, during the three months ended March 31, 2021, as compared to the same period in 2020. Flex revenue in our Tech business improved 3.1%, on billing day basis sequentially in the first quarter of 2021, which is the strongest sequential performance that we have on record. Importantly, the growth we experienced during the first quarter of 2021 accelerated as the quarter progressed. The growth we are experiencing in Tech is being driven by higher levels of consultants on assignment as well as an increase in average bill rates, which increased 1.3% sequentially and 4.5% year-over-year in the first quarter of 2021. While the overall economy is still feeling the effects of the COVID-19 pandemic, our Tech Flex business displayed a high level of resiliency during the COVID-19 pandemic with Tech Flex revenues only being down approximately 1% for the full year 2020. We have made significant progress in growing our technology consultants on assignment since June 2020. Given the acceleration we are experiencing in Tech Flex growth, we expect revenues in the second quarter of 2021 to grow in the mid to high teens on a year-over-year billing day basis. We believe the secular drivers of demand in technology have only strengthened as companies continue to assess their digital transformation efforts and capabilities to conduct business in a more virtual operating environment.
  • Our FA segment experienced an increase in Flex revenue of 24.4% during the three months ended March 31, 2021, as compared to the same period in 2020, primarily driven by the COVID-19 Business, which contributed approximately $24.0 million in revenue during the three months ended March 31, 2021. This positively impacted FA Flex revenue growth rates by 37.8% for the three months ended March 31, 2021. As we move into the second quarter of 2021, we expect overall revenues in the FA business to remain relatively stable year-over-year as we continue to migrate our FA business towards highly-skilled roles that are less susceptible to technological change, location and automation.
Content analysis
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