Pacer Advisors Inc. Raises Stock Holdings in Kelly Services, Inc. (NASDAQ:KELYA)

Pacer Advisors Inc. boosted its holdings in Kelly Services, Inc. (NASDAQ:KELYA) by 45.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,211,791 shares of the business services provider’s stock after buying an additional 380,035 shares during the quarter. Pacer Advisors Inc. owned 3.41% of Kelly Services worth $25,944,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new position in Kelly Services in the 2nd quarter worth about $30,000. Innealta Capital LLC bought a new stake in shares of Kelly Services during the 2nd quarter valued at about $39,000. nVerses Capital LLC bought a new stake in shares of Kelly Services during the 2nd quarter valued at about $47,000. Meeder Asset Management Inc. bought a new stake in shares of Kelly Services during the 2nd quarter valued at about $51,000. Finally, SG Americas Securities LLC bought a new stake in shares of Kelly Services during the 1st quarter valued at about $125,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Wall Street Analysts Forecast Growth

KELYA has been the subject of a number of recent research reports. StockNews.com downgraded Kelly Services from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Barrington Research cut their price target on Kelly Services from $29.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, November 18th.

Insider Activity at Kelly Services

In other Kelly Services news, SVP Daniel H. Malan purchased 3,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average cost of $13.88 per share, with a total value of $48,580.00. Following the acquisition, the senior vice president now owns 95,906 shares in the company, valued at approximately $1,331,175.28. This trade represents a 3.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.90% of the stock is currently owned by corporate insiders.

Kelly Services Trading Up 3.4 %

Shares of NASDAQ:KELYA opened at $14.40 on Friday. The stock has a 50 day moving average of $19.42 and a 200 day moving average of $20.80. The company has a market cap of $512.78 million, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.53 and a beta of 1.20. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.18. Kelly Services, Inc. has a 12-month low of $13.71 and a 12-month high of $25.27.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.07 billion. Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The company’s revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 earnings per share. As a group, equities research analysts expect that Kelly Services, Inc. will post 2.07 EPS for the current year.

Kelly Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.075 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.08%. Kelly Services’s dividend payout ratio (DPR) is presently 26.09%.

Kelly Services Profile

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.