Cubist Systematic Strategies LLC purchased a new stake in Kelly Services, Inc. (NASDAQ:KELYA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 169,349 shares of the business services provider's stock, valued at approximately $2,361,000. Cubist Systematic Strategies LLC owned 0.48% of Kelly Services at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the stock. Boston Partners increased its position in shares of Kelly Services by 49.0% in the fourth quarter. Boston Partners now owns 1,889,389 shares of the business services provider's stock valued at $26,450,000 after buying an additional 621,078 shares in the last quarter. American Century Companies Inc. increased its position in shares of Kelly Services by 10.7% in the fourth quarter. American Century Companies Inc. now owns 897,155 shares of the business services provider's stock valued at $12,506,000 after buying an additional 86,560 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Kelly Services by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 791,125 shares of the business services provider's stock valued at $11,031,000 after buying an additional 9,464 shares in the last quarter. Jane Street Group LLC increased its position in shares of Kelly Services by 2,489.0% in the fourth quarter. Jane Street Group LLC now owns 603,057 shares of the business services provider's stock valued at $8,407,000 after buying an additional 579,764 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its position in shares of Kelly Services by 2.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 500,719 shares of the business services provider's stock valued at $6,980,000 after buying an additional 9,984 shares in the last quarter. 76.34% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
KELYA has been the subject of several research reports. StockNews.com upgraded Kelly Services from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Barrington Research reiterated an "outperform" rating and set a $25.00 price target on shares of Kelly Services in a research report on Tuesday, February 18th.
Read Our Latest Analysis on Kelly Services
Kelly Services Trading Up 1.9%
NASDAQ:KELYA traded up $0.23 during trading hours on Friday, hitting $12.53. The company had a trading volume of 329,809 shares, compared to its average volume of 345,847. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $12.22 and a 200 day moving average of $13.62. The company has a market cap of $437.15 million, a P/E ratio of -208.80, a P/E/G ratio of 0.43 and a beta of 0.96. Kelly Services, Inc. has a 1 year low of $10.80 and a 1 year high of $23.81.
Kelly Services (NASDAQ:KELYA - Get Free Report) last issued its earnings results on Thursday, May 8th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.14). The company had revenue of $1.16 billion during 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%. Sell-side analysts expect that Kelly Services, Inc. will post 2.45 earnings per share for the current year.
Kelly Services Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.39%. The ex-dividend date is Monday, May 19th. Kelly Services's payout ratio is currently -50.00%.
About Kelly Services
(
Free Report)
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.
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