ClariVest Asset Management LLC cut its holdings in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,942 shares of the business services provider’s stock after selling 7,285 shares during the period. ClariVest Asset Management LLC’s holdings in Kelly Services were worth $3,398,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KELYA. MERIAN GLOBAL INVESTORS UK Ltd boosted its position in Kelly Services by 228.2% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 24,831 shares of the business services provider’s stock valued at $596,000 after buying an additional 17,265 shares during the last quarter. Vanguard Group Inc. raised its stake in Kelly Services by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,093,327 shares of the business services provider’s stock worth $74,333,000 after buying an additional 120,713 shares during the period. Man Group plc raised its stake in Kelly Services by 45.0% during the 3rd quarter. Man Group plc now owns 91,850 shares of the business services provider’s stock worth $2,208,000 after buying an additional 28,504 shares during the period. Foundry Partners LLC acquired a new stake in Kelly Services during the 3rd quarter worth $392,000. Finally, United Services Automobile Association increased its holdings in Kelly Services by 3.9% during the 3rd quarter. United Services Automobile Association now owns 144,670 shares of the business services provider’s stock worth $3,476,000 after purchasing an additional 5,434 shares in the last quarter. Institutional investors and hedge funds own 67.04% of the company’s stock.
Several equities analysts have recently weighed in on KELYA shares. Zacks Investment Research upgraded Kelly Services from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Thursday. ValuEngine upgraded Kelly Services from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. Finally, BidaskClub upgraded Kelly Services from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 6th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Kelly Services has a consensus rating of “Buy” and an average target price of $32.00.
Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings data on Wednesday, February 13th. The business services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. Kelly Services had a net margin of 1.17% and a return on equity of 7.45%. The company’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 earnings per share. Analysts predict that Kelly Services, Inc. will post 2.3 EPS for the current year.
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Kelly Services Profile
Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions (GTS), and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.
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