Sei Investments Co. Grows Stock Holdings in Barrett Business Services, Inc. (NASDAQ:BBSI)

Sei Investments Co. increased its stake in Barrett Business Services, Inc. (NASDAQ:BBSI) by 250.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 65,741 shares of the business services provider’s stock after buying an additional 46,958 shares during the quarter. Sei Investments Co.’s holdings in Barrett Business Services were worth $2,154,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in shares of Barrett Business Services by 281.9% during the second quarter. Dimensional Fund Advisors LP now owns 867,708 shares of the business services provider’s stock valued at $28,435,000 after acquiring an additional 640,508 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Barrett Business Services by 299.4% in the second quarter. Renaissance Technologies LLC now owns 798,500 shares of the business services provider’s stock worth $26,167,000 after buying an additional 598,567 shares during the last quarter. Mawer Investment Management Ltd. bought a new position in shares of Barrett Business Services in the second quarter worth approximately $17,870,000. American Century Companies Inc. grew its holdings in shares of Barrett Business Services by 155.9% during the second quarter. American Century Companies Inc. now owns 535,896 shares of the business services provider’s stock valued at $17,561,000 after buying an additional 326,502 shares during the last quarter. Finally, Tieton Capital Management LLC grew its holdings in shares of Barrett Business Services by 292.0% during the second quarter. Tieton Capital Management LLC now owns 204,791 shares of the business services provider’s stock valued at $6,711,000 after buying an additional 152,544 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

Insider Activity

In related news, CEO Gary Kramer sold 34,288 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $35.05, for a total value of $1,201,794.40. Following the transaction, the chief executive officer now owns 242,543 shares of the company’s stock, valued at approximately $8,501,132.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 35,133 shares of company stock valued at $1,231,357 in the last quarter. 3.70% of the stock is currently owned by insiders.

Barrett Business Services Stock Up 1.3 %

BBSI opened at $36.89 on Friday. Barrett Business Services, Inc. has a twelve month low of $21.59 and a twelve month high of $37.81. The firm has a 50 day moving average price of $35.94 and a 200-day moving average price of $33.39. The stock has a market capitalization of $965.30 million, a price-to-earnings ratio of 20.27, a PEG ratio of 1.23 and a beta of 1.38.

Barrett Business Services (NASDAQ:BBSI) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. Barrett Business Services had a return on equity of 25.69% and a net margin of 4.50%. The firm had revenue of $279.60 million for the quarter, compared to analysts’ expectations of $273.13 million. During the same period in the prior year, the firm earned $0.62 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. As a group, analysts expect that Barrett Business Services, Inc. will post 1.99 earnings per share for the current year.

Barrett Business Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.08 per share. This is an increase from Barrett Business Services’s previous quarterly dividend of $0.08. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, August 16th. Barrett Business Services’s payout ratio is currently 17.58%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BBSI. Barrington Research boosted their price objective on shares of Barrett Business Services from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Roth Mkm boosted their price target on Barrett Business Services from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st.

Barrett Business Services Profile

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.