Kelly Services, Inc. (NASDAQ:KELYA) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. increased its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 6.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,454 shares of the business services provider’s stock after purchasing an additional 668 shares during the quarter. Federated Hermes Inc.’s holdings in Kelly Services were worth $224,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of KELYA. O Shaughnessy Asset Management LLC lifted its holdings in Kelly Services by 73.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 59,416 shares of the business services provider’s stock valued at $1,488,000 after acquiring an additional 25,219 shares during the period. Foundry Partners LLC lifted its holdings in Kelly Services by 75.3% in the first quarter. Foundry Partners LLC now owns 150,920 shares of the business services provider’s stock valued at $3,779,000 after acquiring an additional 64,820 shares during the period. Wasatch Advisors LP acquired a new stake in Kelly Services in the first quarter valued at $1,434,000. Boston Partners acquired a new stake in Kelly Services in the first quarter valued at $18,618,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Kelly Services by 178.3% in the second quarter. Assenagon Asset Management S.A. now owns 155,604 shares of the business services provider’s stock valued at $3,331,000 after acquiring an additional 99,699 shares during the period. 76.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on KELYA shares. StockNews.com downgraded Kelly Services from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Barrington Research reaffirmed an “outperform” rating and set a $29.00 price target on shares of Kelly Services in a research note on Thursday, August 15th.

Kelly Services Stock Up 0.6 %

KELYA opened at $21.08 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market capitalization of $748.80 million, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 0.65 and a beta of 1.19. The business has a 50-day moving average of $21.20 and a two-hundred day moving average of $22.24. Kelly Services, Inc. has a 12 month low of $17.40 and a 12 month high of $25.27.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.15. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Kelly Services had a return on equity of 7.82% and a net margin of 1.09%. The company’s revenue was down 13.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. On average, research analysts expect that Kelly Services, Inc. will post 2.49 earnings per share 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 paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Wednesday, August 21st. Kelly Services’s dividend payout ratio is currently 21.58%.

Kelly Services Company 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.