Victory Capital Management Inc. Sells 800 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

Victory Capital Management Inc. cut its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,200 shares of the business services provider’s stock after selling 800 shares during the quarter. Victory Capital Management Inc.’s holdings in Kelly Services were worth $668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Lazard Asset Management LLC purchased a new stake in Kelly Services during the 1st quarter valued at $177,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Kelly Services during the first quarter worth about $225,000. Boston Partners bought a new stake in shares of Kelly Services in the first quarter worth about $18,618,000. CX Institutional increased its holdings in Kelly Services by 1.8% during the 2nd quarter. CX Institutional now owns 140,583 shares of the business services provider’s stock valued at $3,010,000 after purchasing an additional 2,456 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in 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 valued at $3,331,000 after purchasing an additional 99,699 shares during the last quarter. 76.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Kelly Services news, SVP Daniel H. Malan acquired 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average price of $13.88 per share, with a total value of $48,580.00. Following the completion of the purchase, the senior vice president now directly owns 95,906 shares of the company’s stock, valued at approximately $1,331,175.28. The trade was a 3.79 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barrington Research cut their price objective on Kelly Services from $29.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, November 18th. StockNews.com lowered Kelly Services from a “buy” rating to a “hold” rating in a research note on Friday, August 9th.

Kelly Services Trading Up 0.4 %

NASDAQ:KELYA opened at $14.73 on Friday. Kelly Services, Inc. has a 12 month low of $13.71 and a 12 month high of $25.27. The stock has a market cap of $524.54 million, a price-to-earnings ratio of 12.81, a P/E/G ratio of 0.59 and a beta of 1.20. The company has a 50-day moving average price of $18.90 and a 200-day moving average price of $20.55. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.18.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.23). Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The business’s revenue was down 7.1% compared to the same quarter last year. Equities analysts predict that Kelly Services, Inc. will post 1.93 EPS for the current year.

Kelly Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be paid a $0.075 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $0.30 annualized dividend and a yield of 2.04%. Kelly Services’s payout ratio is 26.09%.

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.