73,908 Shares in Kelly Services, Inc. (NASDAQ:KELYA) Bought by Renaissance Technologies LLC

Renaissance Technologies LLC bought a new stake in Kelly Services, Inc. (NASDAQ:KELYA) during the 2nd quarter, HoldingsChannel reports. The fund bought 73,908 shares of the business services provider’s stock, valued at approximately $1,582,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of KELYA. Intrinsic Edge Capital Management LLC acquired a new stake in shares of Kelly Services during the fourth quarter worth $1,730,000. Allspring Global Investments Holdings LLC lifted its position in Kelly Services by 67.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 37,763 shares of the business services provider’s stock worth $946,000 after acquiring an additional 15,165 shares during the period. Wasatch Advisors LP purchased a new stake in Kelly Services during the 1st quarter valued at about $1,434,000. New York State Teachers Retirement System increased its holdings in shares of Kelly Services by 5.4% in the first quarter. New York State Teachers Retirement System now owns 58,882 shares of the business services provider’s stock valued at $1,474,000 after purchasing an additional 3,002 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Kelly Services by 38.9% in the first quarter. BNP Paribas Financial Markets now owns 22,576 shares of the business services provider’s stock worth $565,000 after purchasing an additional 6,325 shares during the last quarter. 76.34% of the stock is owned by institutional investors.

Kelly Services Price Performance

KELYA stock opened at $20.60 on Friday. The business’s 50-day moving average is $20.93 and its two-hundred day moving average is $22.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.61. Kelly Services, Inc. has a 1 year low of $17.40 and a 1 year high of $25.27. The firm has a market capitalization of $731.75 million, a P/E ratio of 14.82, a P/E/G ratio of 0.65 and a beta of 1.19.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings data 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. The company 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 company’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 EPS. Analysts anticipate that Kelly Services, Inc. will post 2.49 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Wednesday, August 21st. Kelly Services’s dividend payout ratio is presently 21.58%.

Wall Street Analyst Weigh In

KELYA has been the subject of several recent research reports. Barrington Research reaffirmed an “outperform” rating and set a $29.00 target price on shares of Kelly Services in a report on Friday, September 27th. StockNews.com downgraded shares of Kelly Services from a “buy” rating to a “hold” rating in a report 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.