Victory Capital Management Inc. Sells 800 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

Victory Capital Management Inc. trimmed its position in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,200 shares of the business services provider’s stock after selling 800 shares during the period. Victory Capital Management Inc. owned 0.09% of Kelly Services worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. US Bancorp DE boosted its position in Kelly Services by 9.3% during the third quarter. US Bancorp DE now owns 10,135 shares of the business services provider’s stock worth $217,000 after purchasing an additional 866 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Kelly Services by 1,730.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 234,057 shares of the business services provider’s stock valued at $5,011,000 after buying an additional 221,271 shares in the last quarter. Creative Planning bought a new position in Kelly Services in the 3rd quarter worth approximately $203,000. Essex Investment Management Co. LLC purchased a new position in Kelly Services in the 3rd quarter valued at approximately $1,706,000. Finally, Exchange Traded Concepts LLC bought a new stake in Kelly Services during the 3rd quarter valued at $781,000. 76.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Daniel H. Malan bought 3,500 shares of Kelly Services stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average price of $13.88 per share, with a total value of $48,580.00. Following the completion of the purchase, the senior vice president now directly owns 95,906 shares in the company, valued at $1,331,175.28. The trade was a 3.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 3.90% of the stock is owned by company insiders.

Kelly Services Stock Performance

NASDAQ KELYA opened at $14.73 on Friday. The company’s 50 day simple moving average is $18.90 and its two-hundred day simple moving average is $20.55. 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, Inc. has a 1 year low of $13.71 and a 1 year high of $25.27. The stock has a market capitalization of $524.54 million, a PE ratio of 12.81, a P/E/G ratio of 0.59 and a beta of 1.20.

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

Kelly Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Wednesday, November 20th. Kelly Services’s payout ratio is 26.09%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on KELYA shares. Barrington Research cut their price target on Kelly Services from $29.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 18th. StockNews.com lowered Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th.

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.