ClariVest Asset Management LLC Grows Position in Kelly Services, Inc. (KELYA)
ClariVest Asset Management LLC lifted its holdings in Kelly Services, Inc. (NASDAQ:KELYA) by 3.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 200,000 shares of the business services provider’s stock after acquiring an additional 6,400 shares during the period. ClariVest Asset Management LLC owned approximately 0.52% of Kelly Services worth $5,018,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in KELYA. SG Americas Securities LLC bought a new stake in Kelly Services during the second quarter worth about $117,000. State of Alaska Department of Revenue lifted its position in Kelly Services by 77.4% during the second quarter. State of Alaska Department of Revenue now owns 5,731 shares of the business services provider’s stock worth $128,000 after purchasing an additional 2,501 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Kelly Services by 17.6% in the second quarter. Victory Capital Management Inc. now owns 8,484 shares of the business services provider’s stock worth $190,000 after acquiring an additional 1,271 shares during the last quarter. First Quadrant L P CA bought a new position in shares of Kelly Services in the second quarter worth about $242,000. Finally, Palouse Capital Management Inc. lifted its holdings in shares of Kelly Services by 26.0% in the second quarter. Palouse Capital Management Inc. now owns 11,751 shares of the business services provider’s stock worth $264,000 after acquiring an additional 2,424 shares during the last quarter. Institutional investors and hedge funds own 66.63% of the company’s stock.
A number of research analysts have recently commented on KELYA shares. Zacks Investment Research raised shares of Kelly Services from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Friday, August 11th. ValuEngine raised shares of Kelly Services from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Finally, BidaskClub cut shares of Kelly Services from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th.
Kelly Services (NASDAQ:KELYA) last released its earnings results on Wednesday, November 8th. The business services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.27. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.30 billion. Kelly Services had a net margin of 1.44% and a return on equity of 7.25%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS. analysts forecast that Kelly Services, Inc. will post 2.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Wednesday, November 22nd will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Tuesday, November 21st. Kelly Services’s dividend payout ratio (DPR) is 15.71%.
In other news, CEO George S. Corona sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $28.06, for a total transaction of $84,180.00. Following the completion of the sale, the chief executive officer now owns 193,473 shares of the company’s stock, valued at approximately $5,428,852.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 16.10% of the company’s stock.
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Kelly Services Company Profile
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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