Kelly Services, Inc. (NASDAQ:KELYA) Stake Lessened by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its holdings in shares of Kelly Services, Inc. (NASDAQ:KELYAFree Report) by 3.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,600 shares of the business services provider’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Kelly Services were worth $334,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. purchased a new stake in Kelly Services in the 2nd quarter worth approximately $30,000. Innealta Capital LLC purchased a new stake in shares of Kelly Services during the second quarter worth $39,000. nVerses Capital LLC acquired a new stake in Kelly Services during the second quarter valued at $47,000. Meeder Asset Management Inc. purchased a new position in Kelly Services in the second quarter valued at about $51,000. Finally, SG Americas Securities LLC acquired a new position in Kelly Services in the 1st quarter worth about $125,000. 76.34% of the stock is owned by institutional investors and hedge funds.

Kelly Services Price Performance

Shares of NASDAQ:KELYA opened at $22.25 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market capitalization of $791.43 million, a P/E ratio of 16.98, a P/E/G ratio of 0.63 and a beta of 1.20. The business has a 50-day moving average of $20.61 and a two-hundred day moving average of $21.42. Kelly Services, Inc. has a fifty-two week low of $18.36 and a fifty-two week high of $25.27.

Kelly Services (NASDAQ:KELYAGet Free Report) last announced its earnings results on Thursday, August 8th. The business services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s revenue was down 13.1% on a year-over-year basis. On average, equities research analysts predict that Kelly Services, Inc. will post 2.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on KELYA shares. Barrington Research reiterated an “outperform” rating and set a $29.00 price target 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 research report on Friday, August 9th.

Read Our Latest Report on KELYA

About Kelly Services

(Free Report)

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.

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Institutional Ownership by Quarter for Kelly Services (NASDAQ:KELYA)

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