ClariVest Asset Management LLC Has $4.35 Million Position in Kelly Services, Inc. (KELYA)
ClariVest Asset Management LLC raised its position in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 28.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,600 shares of the business services provider’s stock after buying an additional 42,900 shares during the period. ClariVest Asset Management LLC’s holdings in Kelly Services were worth $4,347,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue raised its stake in shares of Kelly Services by 77.4% in the second quarter. State of Alaska Department of Revenue now owns 5,731 shares of the business services provider’s stock valued at $128,000 after buying an additional 2,501 shares during the period. Mason Street Advisors LLC raised its stake in shares of Kelly Services by 7.0% in the first quarter. Mason Street Advisors LLC now owns 6,837 shares of the business services provider’s stock valued at $149,000 after buying an additional 449 shares during the period. Victory Capital Management Inc. raised its stake in shares of Kelly Services by 34.6% in the first quarter. Victory Capital Management Inc. now owns 7,213 shares of the business services provider’s stock valued at $158,000 after buying an additional 1,856 shares during the period. First Quadrant L P CA purchased a new stake in shares of Kelly Services during the second quarter valued at approximately $242,000. Finally, Eqis Capital Management Inc. raised its stake in shares of Kelly Services by 3.3% in the first quarter. Eqis Capital Management Inc. now owns 10,937 shares of the business services provider’s stock valued at $239,000 after buying an additional 347 shares during the period. 64.53% of the stock is currently owned by institutional investors.
Shares of Kelly Services, Inc. (KELYA) opened at 21.77 on Tuesday. The stock has a market cap of $833.97 million, a price-to-earnings ratio of 6.52 and a beta of 0.98. The stock’s 50 day moving average price is $22.54 and its 200 day moving average price is $22.16. Kelly Services, Inc. has a 52 week low of $18.01 and a 52 week high of $24.70.
Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Wednesday, August 9th. The business services provider reported $0.47 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the business posted $0.29 EPS. The company’s revenue was down 3.0% on a year-over-year basis. Equities research analysts anticipate that Kelly Services, Inc. will post $1.73 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 22nd will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, August 18th. Kelly Services’s dividend payout ratio is 8.85%.
Several equities research analysts have recently commented on the company. Zacks Investment Research lowered Kelly Services from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub lowered Kelly Services from a “sell” rating to a “strong sell” rating in a research note on Monday. ValuEngine raised Kelly Services from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Northcoast Research reissued a “neutral” rating on shares of Kelly Services in a research note on Friday, May 12th.
In other Kelly Services news, insider Antonina M. Ramsey sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $24.13, for a total value of $361,950.00. Following the completion of the sale, the insider now owns 47,678 shares in the company, valued at approximately $1,150,470.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Donald R. Parfet sold 22,029 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $23.10, for a total transaction of $508,869.90. Following the completion of the sale, the director now owns 23,520 shares of the company’s stock, valued at approximately $543,312. The disclosure for this sale can be found here. Company insiders own 13.30% of the company’s stock.
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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