Proficio Capital Partners LLC Makes New Investment in Kelly Services, Inc. (NASDAQ:KELYA)

Proficio Capital Partners LLC purchased a new stake in Kelly Services, Inc. (NASDAQ:KELYA) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 14,414 shares of the business services provider’s stock, valued at approximately $201,000.

Other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in shares of Kelly Services by 367.1% during the fourth quarter. Versant Capital Management Inc now owns 2,396 shares of the business services provider’s stock worth $33,000 after purchasing an additional 1,883 shares during the period. KBC Group NV raised its position in Kelly Services by 109.1% during the 4th quarter. KBC Group NV now owns 3,886 shares of the business services provider’s stock worth $54,000 after purchasing an additional 2,028 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Kelly Services by 49.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,277 shares of the business services provider’s stock worth $60,000 after buying an additional 1,406 shares during the period. Palouse Capital Management Inc. increased its stake in shares of Kelly Services by 13.1% in the fourth quarter. Palouse Capital Management Inc. now owns 8,194 shares of the business services provider’s stock valued at $114,000 after buying an additional 950 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Kelly Services by 3,062.7% during the fourth quarter. GAMMA Investing LLC now owns 9,330 shares of the business services provider’s stock worth $130,000 after acquiring an additional 9,035 shares during the last quarter. Institutional investors and hedge funds own 76.34% of the company’s stock.

Kelly Services Trading Up 1.5 %

KELYA opened at $13.59 on Friday. Kelly Services, Inc. has a twelve month low of $12.66 and a twelve month high of $25.16. The company has a fifty day moving average of $13.64 and a 200-day moving average of $15.92. The stock has a market cap of $474.13 million, a PE ratio of -226.46, a price-to-earnings-growth ratio of 0.43 and a beta of 1.13. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.19.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.38. Kelly Services had a positive return on equity of 6.56% and a negative net margin of 0.01%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.15 billion. On average, sell-side analysts predict that Kelly Services, Inc. will post 2.45 EPS for the current year.

Kelly Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th were issued a $0.075 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.30 dividend on an annualized basis and a yield of 2.21%. Kelly Services’s payout ratio is currently -500.00%.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an “outperform” rating and issued a $25.00 target price on shares of Kelly Services in a report on Tuesday, February 18th.

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.