Kelly Services, Inc. (NASDAQ:KELYA) Stake Lowered by Intech Investment Management LLC

Intech Investment Management LLC lowered its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 62.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,957 shares of the business services provider’s stock after selling 26,449 shares during the quarter. Intech Investment Management LLC’s holdings in Kelly Services were worth $222,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KELYA. Y Intercept Hong Kong Ltd acquired a new stake in shares of Kelly Services in the fourth quarter valued at approximately $1,481,000. Jacobs Levy Equity Management Inc. increased its position in Kelly Services by 20.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 329,932 shares of the business services provider’s stock valued at $7,064,000 after acquiring an additional 56,457 shares during the period. Barclays PLC raised its stake in Kelly Services by 238.0% during the 3rd quarter. Barclays PLC now owns 63,638 shares of the business services provider’s stock valued at $1,362,000 after acquiring an additional 44,811 shares in the last quarter. Martingale Asset Management L P boosted its position in Kelly Services by 87.4% during the 3rd quarter. Martingale Asset Management L P now owns 92,286 shares of the business services provider’s stock worth $1,976,000 after acquiring an additional 43,033 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in shares of Kelly Services in the fourth quarter worth $508,000. 76.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Barrington Research restated an “outperform” rating and set a $25.00 price objective on shares of Kelly Services in a research note on Tuesday, February 18th.

Kelly Services Trading Up 1.6 %

Kelly Services stock opened at $13.39 on Thursday. Kelly Services, Inc. has a 12-month low of $12.66 and a 12-month high of $25.16. The stock has a market capitalization of $467.15 million, a PE ratio of -223.13, a price-to-earnings-growth ratio of 0.43 and a beta of 1.13. The firm has a 50 day simple moving average of $13.65 and a 200-day simple moving average of $15.94. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.65.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.38. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Kelly Services had a positive return on equity of 6.56% and a negative net margin of 0.01%. As a group, equities research analysts expect that Kelly Services, Inc. will post 2.45 EPS for the current fiscal year.

Kelly Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Wednesday, February 26th. Kelly Services’s payout ratio is -500.00%.

About Kelly Services

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.