ClariVest Asset Management LLC grew its holdings in shares of Kelly Services (NASDAQ:KELYA) by 33.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 269,741 shares of the business services provider’s stock after buying an additional 68,203 shares during the period. ClariVest Asset Management LLC owned 0.70% of Kelly Services worth $7,832,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in Kelly Services by 188.2% in the 4th quarter. Acadian Asset Management LLC now owns 437,389 shares of the business services provider’s stock worth $11,926,000 after purchasing an additional 285,605 shares in the last quarter. BlackRock Inc. boosted its stake in Kelly Services by 4.4% in the 4th quarter. BlackRock Inc. now owns 3,980,829 shares of the business services provider’s stock worth $108,558,000 after purchasing an additional 166,756 shares in the last quarter. AXA boosted its stake in Kelly Services by 555.4% in the 4th quarter. AXA now owns 195,300 shares of the business services provider’s stock worth $5,326,000 after purchasing an additional 165,500 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Kelly Services by 58.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 329,697 shares of the business services provider’s stock worth $8,991,000 after purchasing an additional 121,933 shares in the last quarter. Finally, James Investment Research Inc. boosted its stake in Kelly Services by 158.5% in the 4th quarter. James Investment Research Inc. now owns 159,670 shares of the business services provider’s stock worth $4,354,000 after purchasing an additional 97,910 shares in the last quarter. Hedge funds and other institutional investors own 69.41% of the company’s stock.
A number of equities analysts have weighed in on the company. ValuEngine raised Kelly Services from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. BidaskClub lowered Kelly Services from a “buy” rating to a “hold” rating in a research report on Thursday, April 26th. Finally, Zacks Investment Research lowered Kelly Services from a “hold” rating to a “sell” rating in a research report on Tuesday.
Kelly Services (NASDAQ:KELYA) last issued its earnings results on Thursday, May 10th. The business services provider reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.10). Kelly Services had a return on equity of 7.57% and a net margin of 1.62%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm posted $0.35 EPS. Kelly Services’s quarterly revenue was up 6.2% compared to the same quarter last year. equities analysts forecast that Kelly Services will post 2.24 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 6th. Stockholders of record on Tuesday, May 22nd will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Monday, May 21st. Kelly Services’s payout ratio is currently 13.64%.
Kelly Services 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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