American Century Companies Inc. Grows Position in Kelly Services, Inc. (NASDAQ:KELYA)

American Century Companies Inc. grew its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 35.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 682,857 shares of the business services provider’s stock after purchasing an additional 180,238 shares during the period. American Century Companies Inc. owned approximately 1.92% of Kelly Services worth $14,620,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Innealta Capital LLC purchased a new position in Kelly Services in the 2nd quarter valued at approximately $39,000. nVerses Capital LLC acquired a new stake in Kelly Services in the second quarter valued at $47,000. SG Americas Securities LLC purchased a new position in shares of Kelly Services in the first quarter valued at $125,000. Lazard Asset Management LLC acquired a new position in shares of Kelly Services during the 1st quarter worth $177,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Kelly Services in the 1st quarter worth about $221,000. 76.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. StockNews.com downgraded shares of Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Barrington Research reissued an “outperform” rating and set a $29.00 price objective on shares of Kelly Services in a research note on Thursday, August 15th.

Kelly Services Stock Performance

Shares of KELYA stock opened at $21.18 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market capitalization of $752.36 million, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 0.65 and a beta of 1.19. Kelly Services, Inc. has a one year low of $17.40 and a one year high of $25.27. The company has a 50 day moving average price of $21.23 and a 200 day moving average price of $22.29.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.71 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 business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the firm posted $0.36 EPS. The business’s revenue for the quarter was down 13.1% on a year-over-year basis. Sell-side analysts anticipate that Kelly Services, Inc. will post 2.49 EPS for the current year.

Kelly Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were issued a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.42%. Kelly Services’s dividend payout ratio (DPR) is 21.58%.

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.