Public Sector Pension Investment Board Boosts Stock Position in Kelly Services, Inc. (NASDAQ:KELYA)

Public Sector Pension Investment Board raised its holdings in Kelly Services, Inc. (NASDAQ:KELYA) by 6.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,871 shares of the business services provider’s stock after purchasing an additional 4,561 shares during the quarter. Public Sector Pension Investment Board owned 0.20% of Kelly Services worth $1,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in shares of Kelly Services in the 2nd quarter worth approximately $39,000. nVerses Capital LLC bought a new stake in shares of Kelly Services in the second quarter valued at $47,000. Meeder Asset Management Inc. purchased a new position in shares of Kelly Services during the 2nd quarter valued at $51,000. SG Americas Securities LLC bought a new position in shares of Kelly Services during the 1st quarter worth $125,000. Finally, Lazard Asset Management LLC purchased a new stake in Kelly Services in the 1st quarter worth about $177,000. 76.34% of the stock is owned by hedge funds and other institutional investors.

Kelly Services Stock Performance

NASDAQ:KELYA opened at $21.41 on Tuesday. The business’s fifty day moving average is $21.09 and its 200 day moving average is $22.15. The firm has a market cap of $760.53 million, a price-to-earnings ratio of 15.40, a PEG ratio of 0.65 and a beta of 1.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.61 and a current ratio of 1.61. Kelly Services, Inc. has a 52-week low of $17.40 and a 52-week high of $25.27.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.15. Kelly Services had a return on equity of 7.82% and a net margin of 1.09%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the business posted $0.36 earnings per share. The company’s revenue was down 13.1% on a year-over-year basis. Research analysts predict that Kelly Services, Inc. will post 2.49 EPS for the current year.

Kelly Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.075 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.40%. Kelly Services’s dividend payout ratio (DPR) is currently 21.58%.

Analyst Ratings Changes

Several research firms have commented on KELYA. Barrington Research reaffirmed an “outperform” rating and set a $29.00 price objective on shares of Kelly Services in a report on Friday. StockNews.com cut shares of Kelly Services from a “buy” rating to a “hold” rating in a research note on Friday, August 9th.

Kelly Services Profile

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.