Jacobs Levy Equity Management Inc. Purchases 56,457 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

Jacobs Levy Equity Management Inc. increased its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 20.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 329,932 shares of the business services provider's stock after buying an additional 56,457 shares during the period. Jacobs Levy Equity Management Inc. owned 0.93% of Kelly Services worth $7,064,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of KELYA. Northwestern Mutual Wealth Management Co. bought a new stake in Kelly Services in the 2nd quarter valued at about $30,000. Innealta Capital LLC bought a new stake in Kelly Services in the 2nd quarter valued at about $39,000. nVerses Capital LLC acquired a new position in shares of Kelly Services in the 2nd quarter valued at approximately $47,000. Meeder Asset Management Inc. acquired a new position in shares of Kelly Services in the 2nd quarter valued at approximately $51,000. Finally, Quest Partners LLC acquired a new position in shares of Kelly Services in the 3rd quarter valued at approximately $158,000. Institutional investors own 76.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KELYA. Barrington Research dropped their price objective on shares of Kelly Services from $29.00 to $25.00 and set an "outperform" rating for the company in a research note on Monday, November 18th. StockNews.com downgraded shares of Kelly Services from a "buy" rating to a "hold" rating in a research note on Friday, August 9th.

Kelly Services Stock Performance

KELYA stock traded up $0.13 during mid-day trading on Friday, hitting $14.33. The company had a trading volume of 447,692 shares, compared to its average volume of 238,699. The firm has a market cap of $510.29 million, a PE ratio of 12.46, a price-to-earnings-growth ratio of 0.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.61 and a current ratio of 1.61. Kelly Services, Inc. has a 12 month low of $13.71 and a 12 month high of $25.27. The stock's fifty day moving average price is $18.11 and its two-hundred day moving average price is $20.23.

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

Kelly Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th were paid a dividend of $0.075 per share. The ex-dividend date was Wednesday, November 20th. This represents a $0.30 annualized dividend and a yield of 2.09%. Kelly Services's dividend payout ratio is currently 26.09%.

Insider Activity at Kelly Services

In related news, SVP Daniel H. Malan purchased 3,500 shares of the business's stock in a transaction on Wednesday, November 20th. The stock was acquired at an average price of $13.88 per share, with a total value of $48,580.00. Following the purchase, the senior vice president now directly owns 95,906 shares in the company, valued at approximately $1,331,175.28. This represents a 3.79 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.90% of the stock is owned by corporate insiders.

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.