Kelly Services, Inc. (NASDAQ:KELYA) Shares Purchased by ARGA Investment Management LP

ARGA Investment Management LP increased its position in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 28.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,482 shares of the business services provider’s stock after purchasing an additional 21,672 shares during the period. ARGA Investment Management LP’s holdings in Kelly Services were worth $1,359,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Kelly Services in the 2nd quarter valued at $30,000. Versant Capital Management Inc raised its holdings in Kelly Services by 367.1% in the 4th quarter. Versant Capital Management Inc now owns 2,396 shares of the business services provider’s stock valued at $33,000 after buying an additional 1,883 shares during the period. KBC Group NV lifted its position in Kelly Services by 109.1% in the fourth quarter. KBC Group NV now owns 3,886 shares of the business services provider’s stock valued at $54,000 after buying an additional 2,028 shares during the last quarter. Quest Partners LLC purchased a new position in Kelly Services during the third quarter worth about $158,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Kelly Services during the third quarter valued at about $196,000. 76.34% of the stock is owned by hedge funds and other institutional investors.

Kelly Services Trading Up 1.8 %

KELYA opened at $13.90 on Wednesday. Kelly Services, Inc. has a 52 week low of $12.68 and a 52 week high of $25.27. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $13.96 and a 200-day simple moving average of $17.86. The firm has a market cap of $494.98 million, a P/E ratio of 12.09, a P/E/G ratio of 0.42 and a beta of 1.11.

Kelly Services (NASDAQ:KELYA) last announced its earnings results on Thursday, November 7th. The business services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The business’s revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 earnings per share. On average, equities analysts expect that Kelly Services, Inc. will post 1.93 earnings per share for the current year.

Insider Activity at Kelly Services

In related news, SVP Daniel H. Malan acquired 3,500 shares of Kelly Services stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average cost of $13.88 per share, for a total transaction of $48,580.00. Following the completion of the purchase, the senior vice president now owns 95,906 shares in the company, valued at approximately $1,331,175.28. The trade was a 3.79 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

Separately, Barrington Research decreased their price objective on shares of Kelly Services from $29.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, November 18th.

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.