Janney Montgomery Scott LLC Has $322,000 Stock Holdings in Kelly Services, Inc. (NASDAQ:KELYA)

Janney Montgomery Scott LLC lowered its stake in Kelly Services, Inc. (NASDAQ:KELYA) by 14.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,068 shares of the business services provider’s stock after selling 3,776 shares during the quarter. Janney Montgomery Scott LLC owned about 0.06% of Kelly Services worth $322,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of Kelly Services during the third quarter worth $196,000. Exchange Traded Concepts LLC acquired a new stake in Kelly Services during the 3rd quarter worth $781,000. Creative Planning bought a new position in Kelly Services during the third quarter worth about $203,000. Allspring Global Investments Holdings LLC grew its stake in 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 valued at $5,011,000 after acquiring an additional 221,271 shares during the period. Finally, US Bancorp DE increased its holdings in shares of Kelly Services by 9.3% in the third quarter. US Bancorp DE now owns 10,135 shares of the business services provider’s stock worth $217,000 after acquiring an additional 866 shares in the last quarter. 76.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Kelly Services Price Performance

Shares of Kelly Services stock opened at $13.44 on Wednesday. The firm has a market cap of $478.60 million, a PE ratio of 11.69, a P/E/G ratio of 0.40 and a beta of 1.11. The business’s 50 day simple moving average is $13.83 and its 200 day simple moving average is $17.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.61 and a current ratio of 1.61. Kelly Services, Inc. has a 52-week low of $12.68 and a 52-week high of $25.27.

Insider Activity

In related news, SVP Daniel H. Malan purchased 3,500 shares of Kelly Services stock in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average cost of $13.88 per share, with a total value 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. This trade represents a 3.79 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is owned by corporate 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.