Free Trial

ARGA Investment Management LP Raises Stake in Kelly Services, Inc. (NASDAQ:KELYA)

Kelly Services logo with Business Services background

ARGA Investment Management LP lifted its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 28.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,482 shares of the business services provider's stock after acquiring an additional 21,672 shares during the quarter. ARGA Investment Management LP owned approximately 0.27% of Kelly Services worth $1,359,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of KELYA. State Street Corp grew its holdings in Kelly Services by 1.4% during the 3rd quarter. State Street Corp now owns 1,253,704 shares of the business services provider's stock worth $26,842,000 after acquiring an additional 17,579 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Kelly Services by 45.7% during the 3rd quarter. Pacer Advisors Inc. now owns 1,211,791 shares of the business services provider's stock worth $25,944,000 after acquiring an additional 380,035 shares in the last quarter. Geode Capital Management LLC grew its holdings in Kelly Services by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 781,661 shares of the business services provider's stock worth $16,739,000 after acquiring an additional 9,635 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Kelly Services by 20.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 329,932 shares of the business services provider's stock worth $7,064,000 after acquiring an additional 56,457 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Kelly Services by 1,730.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 234,057 shares of the business services provider's stock worth $5,011,000 after purchasing an additional 221,271 shares during the last quarter. 76.34% of the stock is owned by hedge funds and other institutional investors.

Kelly Services Stock Down 2.2 %

Shares of NASDAQ KELYA traded down $0.29 during mid-day trading on Friday, reaching $13.13. 271,095 shares of the company were exchanged, compared to its average volume of 261,028. 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 stock has a market cap of $467.56 million, a price-to-earnings ratio of 11.42, a P/E/G ratio of 0.40 and a beta of 1.11. Kelly Services, Inc. has a 1 year low of $12.68 and a 1 year high of $25.27. The firm has a 50-day moving average of $13.91 and a 200 day moving average of $17.80.

Kelly Services (NASDAQ:KELYA - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. The business's revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share. On average, research analysts expect that Kelly Services, Inc. will post 1.93 earnings per share for the current year.

Analyst Ratings Changes

Separately, Barrington Research decreased their price objective 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.

View Our Latest Stock Analysis on KELYA

Insider Transactions at Kelly Services

In related news, SVP Daniel H. Malan acquired 3,500 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average cost of $13.88 per share, with a total value of $48,580.00. Following the completion of the acquisition, the senior vice president now directly owns 95,906 shares of the company's stock, valued at $1,331,175.28. This represents a 3.79 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.90% of the company's stock.

Kelly Services Company 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.

See Also

Institutional Ownership by Quarter for Kelly Services (NASDAQ:KELYA)

Should You Invest $1,000 in Kelly Services Right Now?

Before you consider Kelly Services, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kelly Services wasn't on the list.

While Kelly Services currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Unlock the Potential in Options Trading Cover

Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

NVIDIA Earnings: Will it Spark a Rally or Trigger a Sell-Off?
Marjorie Taylor Greene Bought THOUSANDS in Tesla Stock
The EXACT Date of Next Stock Market Crash

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines