Nuveen LLC purchased a new stake in shares of Kelly Services, Inc. (NASDAQ:KELYA - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 663,553 shares of the business services provider's stock, valued at approximately $8,739,000. Nuveen LLC owned about 1.90% of Kelly Services at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Parallel Advisors LLC raised its holdings in shares of Kelly Services by 5,012.7% during the 1st quarter. Parallel Advisors LLC now owns 2,812 shares of the business services provider's stock valued at $37,000 after buying an additional 2,757 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of Kelly Services during the 4th quarter valued at about $158,000. GAMMA Investing LLC raised its holdings in shares of Kelly Services by 923.2% during the 1st quarter. GAMMA Investing LLC now owns 95,469 shares of the business services provider's stock valued at $1,257,000 after buying an additional 86,139 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Kelly Services by 114.3% during the 1st quarter. Victory Capital Management Inc. now owns 69,891 shares of the business services provider's stock valued at $920,000 after buying an additional 37,280 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Kelly Services by 123.7% during the 4th quarter. Bank of America Corp DE now owns 146,462 shares of the business services provider's stock valued at $2,042,000 after buying an additional 80,995 shares in the last quarter. 76.34% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on KELYA. Wall Street Zen raised Kelly Services from a "buy" rating to a "strong-buy" rating in a report on Friday, August 22nd. Barrington Research reaffirmed an "outperform" rating and issued a $25.00 price target on shares of Kelly Services in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $25.00.
Check Out Our Latest Stock Analysis on KELYA
Insiders Place Their Bets
In related news, SVP Daniel H. Malan sold 7,650 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $14.40, for a total value of $110,160.00. Following the sale, the senior vice president directly owned 87,631 shares of the company's stock, valued at $1,261,886.40. This represents a 8.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 48.09% of the stock is currently owned by insiders.
Kelly Services Trading Up 0.9%
Shares of KELYA traded up $0.13 during mid-day trading on Friday, hitting $14.23. 174,217 shares of the company's stock traded hands, compared to its average volume of 351,981. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.06. Kelly Services, Inc. has a 1 year low of $10.80 and a 1 year high of $22.44. The firm has a market capitalization of $501.61 million, a P/E ratio of -71.15, a PEG ratio of 0.50 and a beta of 0.99. The business's 50-day moving average price is $12.99 and its 200-day moving average price is $12.59.
Kelly Services (NASDAQ:KELYA - Get Free Report) last posted its earnings results on Thursday, August 7th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.12 billion. Kelly Services had a positive return on equity of 5.65% and a negative net margin of 0.14%. Kelly Services has set its Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Kelly Services, Inc. will post 2.45 EPS for the current fiscal year.
Kelly Services Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, August 20th. Kelly Services's dividend payout ratio is presently -150.00%.
Kelly Services Profile
(
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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