UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 7,570 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 11.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 71,977 shares of the business services provider’s stock after purchasing an additional 7,570 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.20% of Kelly Services worth $1,541,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Pacer Advisors Inc. raised its position in shares of Kelly Services by 45.7% in the 3rd quarter. Pacer Advisors Inc. now owns 1,211,791 shares of the business services provider’s stock worth $25,944,000 after acquiring an additional 380,035 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Kelly Services by 1,730.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 234,057 shares of the business services provider’s stock worth $5,011,000 after acquiring an additional 221,271 shares in the last quarter. American Century Companies Inc. raised its position in shares of Kelly Services by 35.9% in the 2nd quarter. American Century Companies Inc. now owns 682,857 shares of the business services provider’s stock worth $14,620,000 after acquiring an additional 180,238 shares in the last quarter. Assenagon Asset Management S.A. raised 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 worth $3,331,000 after acquiring an additional 99,699 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Kelly Services in the 3rd quarter worth about $2,122,000. 76.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Barrington Research reduced their target price on Kelly Services from $29.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, November 18th.

Kelly Services Trading Down 1.2 %

NASDAQ:KELYA opened at $13.67 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $486.79 million, a PE ratio of 11.89, a price-to-earnings-growth ratio of 0.56 and a beta of 1.12. The firm’s 50 day moving average is $17.16 and its 200 day moving average is $19.81. Kelly Services, Inc. has a 12 month low of $13.44 and a 12 month high of $25.27.

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

Kelly Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th were given a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $0.30 annualized dividend and a yield of 2.19%. Kelly Services’s dividend payout ratio (DPR) is presently 26.09%.

Insider Buying and Selling

In related news, SVP Daniel H. Malan bought 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was bought at an average cost of $13.88 per share, for a total transaction of $48,580.00. Following the completion of the transaction, the senior vice president now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.90% of the stock is owned by company insiders.

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.