Allspring Global Investments Holdings LLC Purchases 221,271 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

Allspring Global Investments Holdings LLC boosted its holdings in Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 1,730.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 234,057 shares of the business services provider's stock after acquiring an additional 221,271 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.66% of Kelly Services worth $5,011,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. O Shaughnessy Asset Management LLC lifted its holdings 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 valued at $1,488,000 after purchasing an additional 25,219 shares during the last quarter. Foundry Partners LLC boosted its holdings in shares of Kelly Services by 75.3% in the first quarter. Foundry Partners LLC now owns 150,920 shares of the business services provider's stock worth $3,779,000 after buying an additional 64,820 shares during the period. Wasatch Advisors LP purchased a new position in shares of Kelly Services in the first quarter worth approximately $1,434,000. Boston Partners acquired a new stake in shares of Kelly Services during the first quarter valued at approximately $18,618,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Kelly Services by 178.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 155,604 shares of the business services provider's stock valued at $3,331,000 after acquiring an additional 99,699 shares in the last quarter. 76.34% of the stock is owned by institutional investors and hedge funds.

Kelly Services Price Performance

NASDAQ KELYA traded up $0.45 on Monday, reaching $19.91. The company's stock had a trading volume of 128,379 shares, compared to its average volume of 224,680. Kelly Services, Inc. has a 52 week low of $17.58 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 0.16. The firm has a market cap of $707.24 million, a PE ratio of 14.40, a price-to-earnings-growth ratio of 0.61 and a beta of 1.19. The business has a 50-day moving average price of $20.65 and a 200 day moving average price of $21.59.

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

Kelly Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Wednesday, August 21st. Kelly Services's dividend payout ratio is currently 21.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on KELYA shares. Barrington Research reissued an "outperform" rating and issued a $29.00 price objective on shares of Kelly Services in a research note on Friday, September 27th. StockNews.com lowered shares of Kelly Services from a "buy" rating to a "hold" rating in a research note on Friday, August 9th.

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.