Intech Investment Management LLC Invests $908,000 in Kelly Services, Inc. (NASDAQ:KELYA)

Intech Investment Management LLC purchased a new stake in Kelly Services, Inc. (NASDAQ:KELYA - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 42,406 shares of the business services provider's stock, valued at approximately $908,000. Intech Investment Management LLC owned approximately 0.12% of Kelly Services at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new position in Kelly Services in the 1st quarter worth about $177,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Kelly Services in the first quarter valued at approximately $225,000. Boston Partners bought a new position in Kelly Services in the 1st quarter valued at approximately $18,618,000. CX Institutional boosted its position in Kelly Services by 1.8% during the 2nd quarter. CX Institutional now owns 140,583 shares of the business services provider's stock worth $3,010,000 after buying an additional 2,456 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Kelly Services by 178.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 155,604 shares of the business services provider's stock worth $3,331,000 after acquiring an additional 99,699 shares during the last quarter. 76.34% of the stock is owned by institutional investors.

Insider Activity

In other Kelly Services news, SVP Daniel H. Malan purchased 3,500 shares of the company's stock in a transaction dated Wednesday, November 20th. The stock was purchased at an average price of $13.88 per share, for a total transaction of $48,580.00. Following the transaction, the senior vice president now owns 95,906 shares in the company, valued at $1,331,175.28. The trade was a 3.79 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.90% of the stock is owned by company insiders.

Kelly Services Stock Performance

NASDAQ KELYA traded down $0.08 on Friday, hitting $14.65. 127,199 shares of the stock traded hands, compared to its average volume of 234,734. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.61 and a current ratio of 1.61. The business's fifty day moving average is $18.76 and its two-hundred day moving average is $20.51. Kelly Services, Inc. has a 12 month low of $13.71 and a 12 month high of $25.27. The firm has a market capitalization of $521.69 million, a price-to-earnings ratio of 12.74, a PEG ratio of 0.59 and a beta of 1.20.

Kelly Services (NASDAQ:KELYA - Get Free Report) last posted its earnings results on Thursday, November 7th. The business services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.23). The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.07 billion. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. Kelly Services's revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS. As a group, equities analysts anticipate that Kelly Services, Inc. will post 1.93 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Wednesday, November 20th. Kelly Services's payout ratio is 26.09%.

Wall Street Analysts Forecast Growth

KELYA has been the topic of a number of recent analyst reports. Barrington Research dropped their price target on shares of Kelly Services from $29.00 to $25.00 and set an "outperform" rating on the stock in a research report on Monday, November 18th. StockNews.com cut Kelly Services from a "buy" rating to a "hold" rating in a research note on Friday, August 9th.

Kelly Services Company 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.