ClariVest Asset Management LLC reduced its holdings in Kelly Services, Inc. (NASDAQ:KELYA) by 2.6% during the 1st quarter, Holdings Channel reports. The firm owned 161,573 shares of the business services provider’s stock after selling 4,369 shares during the quarter. ClariVest Asset Management LLC’s holdings in Kelly Services were worth $3,564,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Kelly Services by 56.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,230 shares of the business services provider’s stock valued at $46,000 after buying an additional 805 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Kelly Services in the first quarter valued at about $64,000. PNC Financial Services Group Inc. lifted its stake in shares of Kelly Services by 47.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,771 shares of the business services provider’s stock valued at $56,000 after buying an additional 891 shares during the period. Denali Advisors LLC lifted its stake in shares of Kelly Services by 6,285.7% in the first quarter. Denali Advisors LLC now owns 4,470 shares of the business services provider’s stock valued at $99,000 after buying an additional 4,400 shares during the period. Finally, Meeder Asset Management Inc. lifted its stake in shares of Kelly Services by 60.8% in the first quarter. Meeder Asset Management Inc. now owns 6,343 shares of the business services provider’s stock valued at $139,000 after buying an additional 2,398 shares during the period. 66.37% of the stock is currently owned by institutional investors.
In other Kelly Services news, EVP Teresa Carroll sold 14,661 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $25.06, for a total transaction of $367,404.66. Following the completion of the transaction, the executive vice president now owns 89,907 shares in the company, valued at $2,253,069.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.20% of the stock is owned by company insiders.
Shares of KELYA opened at $24.65 on Wednesday. The stock has a market cap of $942.26 million, a price-to-earnings ratio of 10.86 and a beta of 0.71. Kelly Services, Inc. has a 12 month low of $19.21 and a 12 month high of $26.57.
Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings results on Monday, May 6th. The business services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.10. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Kelly Services had a net margin of 0.29% and a return on equity of 7.94%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. On average, equities analysts expect that Kelly Services, Inc. will post 2.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Monday, May 20th. Kelly Services’s dividend payout ratio is 13.22%.
Several equities research analysts recently weighed in on the stock. ValuEngine upgraded shares of Kelly Services from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. BidaskClub upgraded shares of Kelly Services from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 15th. TheStreet cut shares of Kelly Services from a “b” rating to a “c+” rating in a research note on Thursday, February 14th. Finally, Zacks Investment Research upgraded shares of Kelly Services from a “sell” rating to a “hold” rating in a research note on Friday, February 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $32.50.
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Kelly Services Company Profile
Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions, and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.
Further Reading: Yield Curve
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