Intech Investment Management LLC Acquires Shares of 42,406 Kelly Services, Inc. (NASDAQ:KELYA)

Intech Investment Management LLC acquired a new stake in Kelly Services, Inc. (NASDAQ:KELYA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 42,406 shares of the business services provider’s stock, valued at approximately $908,000. Intech Investment Management LLC owned about 0.12% of Kelly Services as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Boston Partners bought a new position in shares of Kelly Services during the first quarter worth $18,618,000. Allspring Global Investments Holdings LLC boosted its position in shares of Kelly Services by 1,730.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 234,057 shares of the business services provider’s stock worth $5,011,000 after purchasing an additional 221,271 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Kelly Services by 35.9% during the second quarter. American Century Companies Inc. now owns 682,857 shares of the business services provider’s stock worth $14,620,000 after purchasing an additional 180,238 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Kelly Services by 178.3% during the second quarter. Assenagon Asset Management S.A. now owns 155,604 shares of the business services provider’s stock worth $3,331,000 after purchasing an additional 99,699 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Kelly Services during the third quarter worth $2,122,000. 76.34% of the stock is owned by institutional investors.

Kelly Services Stock Up 0.4 %

Kelly Services stock opened at $14.73 on Friday. The firm has a market capitalization of $524.54 million, a PE ratio of 12.81, a P/E/G ratio of 0.59 and a beta of 1.20. The company’s 50-day moving average is $18.90 and its 200-day moving average is $20.55. Kelly Services, Inc. has a fifty-two week low of $13.71 and a fifty-two week high of $25.27. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 1.61.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.23). The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 earnings per share. Sell-side analysts anticipate that Kelly Services, Inc. will post 1.93 earnings per share for the current year.

Kelly Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Wednesday, November 20th. Kelly Services’s payout ratio is 26.09%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. StockNews.com cut shares of Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Barrington Research dropped their price objective on shares of Kelly Services from $29.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, November 18th.

Insider Buying and Selling

In related news, SVP Daniel H. Malan bought 3,500 shares of Kelly Services stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average price of $13.88 per share, with a total value of $48,580.00. Following the acquisition, the senior vice president now owns 95,906 shares of the company’s stock, valued at approximately $1,331,175.28. This represents a 3.79 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.90% of the stock is currently owned by insiders.

Kelly Services Profile

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.