Marshall Wace LLP Acquires New Stake in Kelly Services, Inc. (NASDAQ:KELYA)

Marshall Wace LLP acquired a new position in shares of Kelly Services, Inc. (NASDAQ:KELYA - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 24,812 shares of the business services provider's stock, valued at approximately $531,000. Marshall Wace LLP owned about 0.07% of Kelly Services at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC lifted its position in shares of Kelly Services by 73.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 59,416 shares of the business services provider's stock worth $1,488,000 after purchasing an additional 25,219 shares in the last quarter. Foundry Partners LLC grew its holdings in Kelly Services by 75.3% during the first quarter. Foundry Partners LLC now owns 150,920 shares of the business services provider's stock worth $3,779,000 after acquiring an additional 64,820 shares during the period. Wasatch Advisors LP acquired a new position in shares of Kelly Services during the 1st quarter worth $1,434,000. Boston Partners acquired a new stake in shares of Kelly Services during the 1st quarter valued at approximately $18,618,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of 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 buying an additional 99,699 shares during the last quarter. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

Kelly Services Stock Down 1.4 %

Shares of KELYA traded down $0.29 during mid-day trading on Thursday, hitting $20.11. 206,631 shares of the company's stock were exchanged, compared to its average volume of 229,824. The stock has a market cap of $714.35 million, a price-to-earnings ratio of 14.46, a P/E/G ratio of 0.65 and a beta of 1.19. The firm has a fifty day moving average of $20.74 and a two-hundred day moving average of $21.98. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Kelly Services, Inc. has a twelve month low of $17.40 and a twelve month high of $25.27.

Kelly Services (NASDAQ:KELYA - Get Free Report) last posted its earnings results on Thursday, August 8th. The business services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.15. Kelly Services had a return on equity of 7.82% and a net margin of 1.09%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company earned $0.36 EPS. The company's revenue for the quarter was down 13.1% on a year-over-year basis. On average, sell-side analysts forecast that Kelly Services, Inc. will post 2.49 earnings per share for the current year.

Kelly Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.30 annualized dividend and a dividend yield of 1.49%. Kelly Services's dividend payout ratio is 21.58%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. StockNews.com cut Kelly Services from a "buy" rating to a "hold" rating in a research note on Friday, August 9th. Barrington Research reiterated an "outperform" rating and set a $29.00 price objective on shares of Kelly Services in a research note on Friday, September 27th.

About Kelly Services

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.