California Public Employees Retirement System grew its position in Kelly Services, Inc. (NASDAQ:KELYA) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 142,241 shares of the business services provider’s stock after purchasing an additional 3,241 shares during the quarter. California Public Employees Retirement System owned approximately 0.37% of Kelly Services worth $3,569,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Kelly Services during the 2nd quarter worth $117,000. Victory Capital Management Inc. raised its stake in Kelly Services by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 8,484 shares of the business services provider’s stock worth $190,000 after acquiring an additional 1,271 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in Kelly Services during the 3rd quarter worth $218,000. BNP Paribas Arbitrage SA raised its stake in Kelly Services by 49.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,079 shares of the business services provider’s stock worth $271,000 after acquiring an additional 3,976 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in Kelly Services by 20.7% during the 2nd quarter. Voya Investment Management LLC now owns 13,274 shares of the business services provider’s stock worth $298,000 after acquiring an additional 2,278 shares in the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.
Several equities research analysts recently commented on KELYA shares. Zacks Investment Research upgraded shares of Kelly Services from a “hold” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, November 14th. BidaskClub downgraded shares of Kelly Services from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th.
Kelly Services, Inc. (NASDAQ KELYA) opened at $28.55 on Friday. Kelly Services, Inc. has a 52-week low of $20.27 and a 52-week high of $30.93. The stock has a market cap of $1,092.42, a price-to-earnings ratio of 14.58 and a beta of 1.11.
Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.27. Kelly Services had a net margin of 1.44% and a return on equity of 7.25%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the firm posted $0.44 EPS. Kelly Services’s revenue for the quarter was up 6.5% on a year-over-year basis. analysts anticipate that Kelly Services, Inc. will post 2.04 EPS for the current year.
In other Kelly Services news, CEO George S. Corona sold 3,000 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $28.06, for a total transaction of $84,180.00. Following the transaction, the chief executive officer now directly owns 193,473 shares of the company’s stock, valued at approximately $5,428,852.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leslie A. Murphy sold 7,500 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $28.69, for a total transaction of $215,175.00. Following the transaction, the director now directly owns 22,695 shares in the company, valued at $651,119.55. The disclosure for this sale can be found here. Insiders have sold a total of 17,400 shares of company stock worth $499,800 over the last three months. 16.10% of the stock is currently owned by insiders.
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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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