ClariVest Asset Management LLC grew its holdings in shares of Kelly Services (NASDAQ:KELYA) by 33.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 269,741 shares of the business services provider’s stock after purchasing an additional 68,203 shares during the quarter. ClariVest Asset Management LLC’s holdings in Kelly Services were worth $7,832,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in Kelly Services in the 4th quarter worth approximately $210,000. UBS Asset Management Americas Inc. purchased a new stake in Kelly Services in the 4th quarter worth approximately $240,000. Teacher Retirement System of Texas purchased a new stake in Kelly Services in the 4th quarter worth approximately $303,000. MetLife Investment Advisors LLC purchased a new stake in Kelly Services in the 4th quarter worth approximately $408,000. Finally, Engineers Gate Manager LP purchased a new stake in Kelly Services in the 1st quarter worth approximately $535,000. 69.41% of the stock is owned by hedge funds and other institutional investors.
Kelly Services opened at $21.95 on Friday, Marketbeat Ratings reports. Kelly Services has a 1-year low of $21.82 and a 1-year high of $22.62. The company has a market capitalization of $826.97 million, a price-to-earnings ratio of 9.98 and a beta of 1.03.
Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, May 10th. The business services provider reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.10). Kelly Services had a return on equity of 7.57% and a net margin of 1.62%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company earned $0.35 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. equities analysts anticipate that Kelly Services will post 2.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 6th. Shareholders of record on Tuesday, May 22nd will be paid a $0.075 dividend. The ex-dividend date of this dividend is Monday, May 21st. This represents a $0.30 annualized dividend and a yield of 1.37%. Kelly Services’s payout ratio is 13.64%.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Kelly Services from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, May 11th. Finally, BidaskClub lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a report on Thursday, April 26th.
Kelly Services Profile
Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions (GTS), and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.
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