Essex Investment Management Co. LLC Invests $1.71 Million in Kelly Services, Inc. (NASDAQ:KELYA)

Essex Investment Management Co. LLC bought a new stake in shares of Kelly Services, Inc. (NASDAQ:KELYA - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 79,684 shares of the business services provider's stock, valued at approximately $1,706,000. Essex Investment Management Co. LLC owned about 0.22% of Kelly Services at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in KELYA. Exchange Traded Concepts LLC bought a new stake in shares of Kelly Services in the 3rd quarter worth approximately $781,000. SG Americas Securities LLC bought a new position in shares of Kelly Services in the third quarter worth about $196,000. Brandes Investment Partners LP boosted its stake in Kelly Services by 36.2% during the second quarter. Brandes Investment Partners LP now owns 28,512 shares of the business services provider's stock valued at $610,000 after buying an additional 7,576 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Kelly Services during the second quarter valued at approximately $30,000. Finally, Susquehanna Fundamental Investments LLC raised its holdings in shares of Kelly Services by 107.1% in the second quarter. Susquehanna Fundamental Investments LLC now owns 18,269 shares of the business services provider's stock worth $391,000 after buying an additional 9,449 shares during the period. Institutional investors own 76.34% of the company's stock.

Analyst Upgrades and Downgrades

KELYA has been the subject of several recent analyst reports. Barrington Research restated an "outperform" rating and issued a $29.00 price target on shares of Kelly Services in a research note on Friday, September 27th. StockNews.com lowered Kelly Services from a "buy" rating to a "hold" rating in a report on Friday, August 9th.

Kelly Services Stock Up 1.5 %

Shares of KELYA stock traded up $0.31 during trading on Friday, reaching $20.42. The company's stock had a trading volume of 128,440 shares, compared to its average volume of 229,309. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average price of $20.67 and a 200-day moving average price of $21.91. Kelly Services, Inc. has a one year low of $17.40 and a one year high of $25.27. The company has a market cap of $725.36 million, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 0.63 and a beta of 1.19.

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

Kelly Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were issued a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.30 dividend on an annualized basis and a yield of 1.47%. Kelly Services's dividend payout ratio (DPR) is 21.58%.

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.