Sei Investments Co. boosted its holdings in Kelly Services, Inc. (NASDAQ:KELYA) by 384.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,759 shares of the business services provider’s stock after acquiring an additional 4,571 shares during the quarter. Sei Investments Co.’s holdings in Kelly Services were worth $129,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Swiss National Bank grew its stake in shares of Kelly Services by 3.2% in the 1st quarter. Swiss National Bank now owns 54,700 shares of the business services provider’s stock valued at $1,588,000 after buying an additional 1,700 shares in the last quarter. New York State Teachers Retirement System boosted its position in Kelly Services by 4.5% during the second quarter. New York State Teachers Retirement System now owns 70,206 shares of the business services provider’s stock worth $1,576,000 after purchasing an additional 3,000 shares during the period. Federated Investors Inc. PA boosted its position in Kelly Services by 2,180.0% during the first quarter. Federated Investors Inc. PA now owns 3,534 shares of the business services provider’s stock worth $103,000 after purchasing an additional 3,379 shares during the period. Principal Financial Group Inc. boosted its position in Kelly Services by 2.3% during the first quarter. Principal Financial Group Inc. now owns 234,517 shares of the business services provider’s stock worth $6,810,000 after purchasing an additional 5,228 shares during the period. Finally, Aperio Group LLC boosted its position in Kelly Services by 3.4% during the first quarter. Aperio Group LLC now owns 182,697 shares of the business services provider’s stock worth $5,306,000 after purchasing an additional 6,039 shares during the period. Hedge funds and other institutional investors own 66.46% of the company’s stock.
KELYA has been the subject of a number of research analyst reports. Sidoti initiated coverage on Kelly Services in a report on Friday, August 24th. They set a “buy” rating and a $37.00 price target for the company. BidaskClub upgraded Kelly Services from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. ValuEngine lowered Kelly Services from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Finally, Zacks Investment Research upgraded Kelly Services from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $34.50.
NASDAQ:KELYA traded up $0.26 during trading hours on Friday, reaching $22.52. The company had a trading volume of 175,722 shares, compared to its average volume of 171,541. Kelly Services, Inc. has a one year low of $21.44 and a one year high of $32.31. The stock has a market capitalization of $932.44 million, a price-to-earnings ratio of 10.24 and a beta of 0.88.
Kelly Services (NASDAQ:KELYA) last announced its earnings results on Wednesday, August 8th. The business services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.43 by $0.11. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Kelly Services had a return on equity of 7.62% and a net margin of 0.99%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 earnings per share. Equities research analysts forecast that Kelly Services, Inc. will post 2.1 earnings per share for the current fiscal year.
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 (GTS), 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.
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