Parallel Advisors LLC Acquires 2,757 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

Parallel Advisors LLC raised its stake in Kelly Services, Inc. (NASDAQ:KELYA) by 5,012.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,812 shares of the business services provider’s stock after acquiring an additional 2,757 shares during the quarter. Parallel Advisors LLC’s holdings in Kelly Services were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. KBC Group NV lifted its position in shares of Kelly Services by 109.1% in the fourth quarter. KBC Group NV now owns 3,886 shares of the business services provider’s stock worth $54,000 after purchasing an additional 2,028 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in Kelly Services by 49.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,277 shares of the business services provider’s stock worth $60,000 after purchasing an additional 1,406 shares during the period. Palouse Capital Management Inc. lifted its position in Kelly Services by 13.1% during the fourth quarter. Palouse Capital Management Inc. now owns 8,194 shares of the business services provider’s stock worth $114,000 after purchasing an additional 950 shares during the period. Entropy Technologies LP bought a new position in shares of Kelly Services in the fourth quarter worth about $153,000. Finally, AXQ Capital LP acquired a new position in shares of Kelly Services in the fourth quarter valued at approximately $154,000. Institutional investors and hedge funds own 76.34% of the company’s stock.

Kelly Services Stock Up 1.3%

Kelly Services stock opened at $12.06 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.65. The stock has a market capitalization of $420.75 million, a PE ratio of -200.97, a price-to-earnings-growth ratio of 0.43 and a beta of 0.96. The business has a 50 day simple moving average of $11.75 and a 200-day simple moving average of $13.05. Kelly Services, Inc. has a 12 month low of $10.80 and a 12 month high of $23.81.

Kelly Services (NASDAQ:KELYA) last announced its earnings results on Thursday, May 8th. The business services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.14). The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Kelly Services had a negative net margin of 0.01% and a positive return on equity of 6.56%. On average, analysts anticipate that Kelly Services, Inc. will post 2.45 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.49%. The ex-dividend date was Monday, May 19th. Kelly Services’s dividend payout ratio (DPR) is -50.00%.

Analyst Ratings Changes

Several analysts have recently commented on KELYA shares. Barrington Research reiterated an “outperform” rating and issued a $25.00 target price on shares of Kelly Services in a report on Tuesday, May 20th. Wall Street Zen lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a research report on Tuesday, May 20th.

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.