Convergence Investment Partners LLC reduced its position in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 15.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,320 shares of the business services provider’s stock after selling 12,210 shares during the period. Convergence Investment Partners LLC’s holdings in Kelly Services were worth $1,534,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes 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 last quarter. 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 last quarter. 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 last quarter. 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 last quarter. Finally, Menta Capital LLC bought a new stake in shares of Kelly Services during the first quarter valued at about $241,000. Institutional investors own 64.53% of the company’s stock.

Kelly Services, Inc. (KELYA) opened at 21.77 on Tuesday. The firm’s 50 day moving average is $22.54 and its 200 day moving average is $22.16. The stock has a market capitalization of $833.97 million, a P/E ratio of 6.52 and a beta of 0.98. Kelly Services, Inc. has a 1-year low of $18.01 and a 1-year high of $24.70.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Wednesday, August 9th. The business services provider reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.24. Kelly Services had a return on equity of 6.88% and a net margin of 2.58%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the company posted $0.29 EPS. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that Kelly Services, Inc. will post $1.73 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 22nd will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.30 annualized dividend and a yield of 1.38%. Kelly Services’s payout ratio is 8.85%.

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Several equities research analysts have issued reports on KELYA shares. ValuEngine lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Northcoast Research reiterated a “neutral” rating on shares of Kelly Services in a research report on Friday, May 12th. BidaskClub lowered shares of Kelly Services from a “sell” rating to a “strong sell” rating in a research report on Monday. Finally, Zacks Investment Research lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a research report on Tuesday.

In other news, insider Antonina M. Ramsey sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $24.13, for a total transaction of $361,950.00. Following the completion of the transaction, the insider now directly owns 47,678 shares in the company, valued at approximately $1,150,470.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Donald R. Parfet sold 22,029 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $23.10, for a total value of $508,869.90. Following the transaction, the director now owns 23,520 shares of the company’s stock, valued at $543,312. The disclosure for this sale can be found here. Corporate insiders own 13.30% of the company’s stock.

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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Institutional Ownership by Quarter for Kelly Services (NASDAQ:KELYA)

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