Public Employees Retirement System of Ohio Buys 2,427 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

Public Employees Retirement System of Ohio increased its stake in Kelly Services, Inc. (NASDAQ:KELYA) by 8.9% in the third quarter, HoldingsChannel reports. The fund owned 29,723 shares of the business services provider’s stock after purchasing an additional 2,427 shares during the period. Public Employees Retirement System of Ohio’s holdings in Kelly Services were worth $636,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in 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 purchasing an additional 380,035 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Kelly Services by 1,730.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 234,057 shares of the business services provider’s stock worth $5,011,000 after purchasing an additional 221,271 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Kelly Services by 35.9% in the second quarter. American Century Companies Inc. now owns 682,857 shares of the business services provider’s stock worth $14,620,000 after buying an additional 180,238 shares during the period. Segall Bryant & Hamill LLC bought a new stake in Kelly Services during the 3rd quarter valued at $2,122,000. Finally, Essex Investment Management Co. LLC purchased a new stake in Kelly Services during the 3rd quarter valued at $1,706,000. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Kelly Services

In other Kelly Services news, SVP Daniel H. Malan bought 3,500 shares of Kelly Services stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average cost of $13.88 per share, with a total value of $48,580.00. Following the transaction, the senior vice president now directly owns 95,906 shares of the company’s stock, valued at $1,331,175.28. This represents a 3.79 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.90% of the stock is owned by corporate insiders.

Kelly Services Stock Performance

KELYA opened at $13.02 on Friday. The firm has a market capitalization of $463.64 million, a price-to-earnings ratio of 11.32, a PEG ratio of 0.56 and a beta of 1.12. Kelly Services, Inc. has a one year low of $12.68 and a one year high of $25.27. The business has a 50 day simple moving average of $16.58 and a two-hundred day simple moving average of $19.60. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 1.61.

Kelly Services (NASDAQ:KELYA) last announced its 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 business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.07 billion. Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. Kelly Services’s revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 EPS. Analysts predict that Kelly Services, Inc. will post 1.93 EPS for the current year.

Kelly Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Wednesday, November 20th. Kelly Services’s payout ratio is 26.09%.

Analysts Set New Price Targets

Separately, Barrington Research decreased their price objective on shares of Kelly Services from $29.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, November 18th.

About Kelly Services

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.