Barrett Business Services (NASDAQ:BBSI) Hits New 1-Year High – What’s Next?

Barrett Business Services, Inc. (NASDAQ:BBSI) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $43.23 and last traded at $43.23, with a volume of 1547 shares trading hands. The stock had previously closed at $42.79.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BBSI shares. StockNews.com lowered Barrett Business Services from a “buy” rating to a “hold” rating in a report on Monday. Barrington Research raised their price target on Barrett Business Services from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Roth Mkm raised their price target on Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Barrett Business Services Stock Performance

The company has a fifty day simple moving average of $37.18 and a two-hundred day simple moving average of $34.76. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 22.58, a P/E/G ratio of 1.43 and a beta of 1.39.

Barrett Business Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.32 annualized dividend and a dividend yield of 0.74%. Barrett Business Services’s dividend payout ratio is presently 16.89%.

Insider Activity

In other news, CEO Gary Kramer sold 805 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $35.00, for a total transaction of $28,175.00. Following the completion of the sale, the chief executive officer now directly owns 276,831 shares of the company’s stock, valued at $9,689,085. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Barrett Business Services

Institutional investors have recently added to or reduced their stakes in the business. Pacific Ridge Capital Partners LLC boosted its position in Barrett Business Services by 259.8% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 378,786 shares of the business services provider’s stock worth $12,413,000 after purchasing an additional 273,516 shares during the period. Ironwood Investment Management LLC boosted its position in Barrett Business Services by 155.0% during the 2nd quarter. Ironwood Investment Management LLC now owns 87,856 shares of the business services provider’s stock worth $2,879,000 after purchasing an additional 53,405 shares during the period. EP Wealth Advisors LLC purchased a new stake in Barrett Business Services during the 2nd quarter worth $758,000. Dimensional Fund Advisors LP boosted its position in Barrett Business Services by 281.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 867,708 shares of the business services provider’s stock worth $28,435,000 after purchasing an additional 640,508 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its holdings in Barrett Business Services by 155.7% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 59,324 shares of the business services provider’s stock worth $1,944,000 after buying an additional 36,120 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

About Barrett Business Services

Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. The company develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.