James Investment Research Inc. decreased its holdings in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 82.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,780 shares of the business services provider’s stock after selling 115,305 shares during the quarter. James Investment Research Inc. owned 0.06% of Kelly Services worth $595,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in Kelly Services by 384.8% during the second quarter. Sei Investments Co. now owns 5,759 shares of the business services provider’s stock worth $129,000 after buying an additional 4,571 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in Kelly Services during the second quarter worth $161,000. Itau Unibanco Holding S.A. purchased a new stake in Kelly Services during the second quarter worth $186,000. Paloma Partners Management Co purchased a new stake in Kelly Services during the second quarter worth $219,000. Finally, SG Americas Securities LLC lifted its holdings in Kelly Services by 210.1% during the second quarter. SG Americas Securities LLC now owns 10,945 shares of the business services provider’s stock worth $246,000 after buying an additional 7,416 shares during the period. 66.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of KELYA opened at $24.48 on Monday. The stock has a market cap of $949.90 million, a price-to-earnings ratio of 11.13 and a beta of 0.79. Kelly Services, Inc. has a fifty-two week low of $21.44 and a fifty-two week high of $32.31.
Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Wednesday, August 8th. The business services provider reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.11. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. Kelly Services had a net margin of 0.99% and a return on equity of 7.62%. Kelly Services’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $0.47 EPS. Equities analysts anticipate that Kelly Services, Inc. will post 2.1 earnings per share for the current fiscal year.
Several analysts have recently commented on the company. BidaskClub upgraded Kelly Services from a “hold” rating to a “buy” rating in a report on Thursday, October 18th. Sidoti assumed coverage on Kelly Services in a report on Friday, August 24th. They set a “buy” rating and a $37.00 price objective for the company. ValuEngine upgraded Kelly Services from a “sell” rating to a “hold” rating in a report on Friday. Finally, Zacks Investment Research upgraded Kelly Services from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $34.50.
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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