Martingale Asset Management L P Has $1.98 Million Stock Holdings in Kelly Services, Inc. (NASDAQ:KELYA)

Martingale Asset Management L P lifted its holdings in shares of Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 87.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,286 shares of the business services provider's stock after purchasing an additional 43,033 shares during the quarter. Martingale Asset Management L P owned 0.26% of Kelly Services worth $1,976,000 as of its most recent SEC filing.

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

Insider Activity

In related news, SVP Daniel H. Malan purchased 3,500 shares of the firm's stock in a transaction dated Wednesday, November 20th. The stock was bought at an average price of $13.88 per share, with a total value 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. This represents a 3.79 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 3.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barrington Research decreased their price target on Kelly Services from $29.00 to $25.00 and set an "outperform" rating on the stock in a research note on Monday, November 18th. StockNews.com cut Kelly Services from a "buy" rating to a "hold" rating in a research report on Friday, August 9th.

Kelly Services Price Performance

NASDAQ:KELYA traded down $0.08 on Friday, hitting $14.65. The company had a trading volume of 127,199 shares, compared to its average volume of 343,746. Kelly Services, Inc. has a 52 week low of $13.71 and a 52 week high of $25.27. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $521.69 million, a price-to-earnings ratio of 12.74, a PEG ratio of 0.58 and a beta of 1.20. The firm has a 50 day moving average of $18.63 and a two-hundred day moving average of $20.44.

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

Kelly Services Announces Dividend

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 paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, November 20th. Kelly Services's payout ratio is 26.09%.

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.