Nordea Investment Management AB Grows Stock Holdings in Kelly Services, Inc. (NASDAQ:KELYA)

Nordea Investment Management AB boosted its holdings in Kelly Services, Inc. (NASDAQ:KELYA) by 3.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 161,200 shares of the business services provider’s stock after buying an additional 5,000 shares during the quarter. Nordea Investment Management AB owned approximately 0.41% of Kelly Services worth $3,556,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Thrivent Financial for Lutherans lifted its stake in shares of Kelly Services by 1.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 41,945 shares of the business services provider’s stock worth $930,000 after acquiring an additional 482 shares during the period. Palouse Capital Management Inc. boosted its stake in shares of Kelly Services by 5.0% during the 1st quarter. Palouse Capital Management Inc. now owns 11,406 shares of the business services provider’s stock worth $252,000 after acquiring an additional 543 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Kelly Services by 8.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 8,313 shares of the business services provider’s stock worth $170,000 after acquiring an additional 621 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Kelly Services by 1.0% during the 4th quarter. Victory Capital Management Inc. now owns 71,123 shares of the business services provider’s stock worth $1,457,000 after acquiring an additional 682 shares in the last quarter. Finally, Comerica Bank boosted its stake in shares of Kelly Services by 2.4% during the 1st quarter. Comerica Bank now owns 31,290 shares of the business services provider’s stock worth $709,000 after acquiring an additional 719 shares in the last quarter. 66.39% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Teresa Carroll sold 14,661 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $25.06, for a total transaction of $367,404.66. Following the completion of the sale, the executive vice president now owns 89,907 shares in the company, valued at approximately $2,253,069.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 7.20% of the stock is owned by company insiders.

KELYA stock traded up $0.12 during mid-day trading on Thursday, reaching $26.40. The company’s stock had a trading volume of 63,403 shares, compared to its average volume of 124,303. The stock has a market cap of $1.02 billion, a PE ratio of 11.63 and a beta of 0.78. Kelly Services, Inc. has a fifty-two week low of $19.21 and a fifty-two week high of $26.80. The company’s 50 day moving average price is $25.25.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Monday, May 6th. The business services provider reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.10. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. Kelly Services had a net margin of 0.29% and a return on equity of 7.94%. Kelly Services’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. Research analysts anticipate that Kelly Services, Inc. will post 2.45 earnings per share for the current year.

A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. BidaskClub upgraded shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. TheStreet downgraded shares of Stitch Fix from a “c-” rating to a “d+” rating in a report on Monday, May 6th. Finally, ValuEngine downgraded shares of Whiting USA Trust II from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $32.50.

Kelly Services Profile

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions, and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.

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Institutional Ownership by Quarter for Kelly Services (NASDAQ:KELYA)

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