Wells Fargo & Company MN Raises Position in Kelly Services, Inc. (KELYA)
Wells Fargo & Company MN boosted its position in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 17.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 164,966 shares of the business services provider’s stock after acquiring an additional 24,423 shares during the period. Wells Fargo & Company MN owned approximately 0.43% of Kelly Services worth $3,703,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. LSV Asset Management boosted its holdings in Kelly Services by 4.7% during the second quarter. LSV Asset Management now owns 838,861 shares of the business services provider’s stock valued at $18,832,000 after purchasing an additional 37,600 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Kelly Services by 2.7% during the second quarter. JPMorgan Chase & Co. now owns 369,369 shares of the business services provider’s stock valued at $8,292,000 after purchasing an additional 9,826 shares in the last quarter. Brandes Investment Partners LP acquired a new stake in Kelly Services during the second quarter valued at approximately $1,110,000. Chicago Equity Partners LLC boosted its holdings in Kelly Services by 449.4% during the second quarter. Chicago Equity Partners LLC now owns 99,285 shares of the business services provider’s stock valued at $2,229,000 after purchasing an additional 81,215 shares in the last quarter. Finally, IndexIQ Advisors LLC acquired a new stake in Kelly Services during the second quarter valued at approximately $486,000. Hedge funds and other institutional investors own 65.75% of the company’s stock.
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Kelly Services, Inc. (NASDAQ KELYA) opened at 26.16 on Tuesday. The firm has a market capitalization of $1.00 billion, a P/E ratio of 7.84 and a beta of 1.00. Kelly Services, Inc. has a one year low of $18.06 and a one year high of $26.31. The stock has a 50 day moving average price of $23.72 and a 200 day moving average price of $22.65.
Kelly Services (NASDAQ:KELYA) last issued its earnings results on Wednesday, August 9th. The business services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.24. Kelly Services had a net margin of 2.58% and a return on equity of 6.88%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the business posted $0.29 earnings per share. The company’s quarterly revenue was down 3.0% on a year-over-year basis. On average, equities analysts predict that Kelly Services, Inc. will post $1.73 EPS for the current fiscal year.
A number of equities research analysts have weighed in on the company. ValuEngine raised Kelly Services from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Zacks Investment Research raised Kelly Services from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Friday, August 11th. Finally, BidaskClub downgraded Kelly Services from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st.
About Kelly Services
Kelly Services, Inc is a workforce solutions provider, which is engaged in offering a range of specialty services. The Company provides workforce solutions in three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). The Company’s segments are Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), and Outsourcing and Consulting Group (OCG).
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