Barrett Business Services (NASDAQ:BBSI) Upgraded at StockNews.com

StockNews.com upgraded shares of Barrett Business Services (NASDAQ:BBSI) from a hold rating to a buy rating in a report issued on Tuesday morning.

A number of other analysts also recently issued reports on the stock. Barrington Research lifted their price objective on shares of Barrett Business Services from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Roth Mkm lifted their price objective on shares of 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 Price Performance

BBSI opened at $42.23 on Tuesday. The company has a fifty day moving average price of $37.97 and a 200-day moving average price of $35.21. The firm has a market capitalization of $1.10 billion, a P/E ratio of 22.31, a price-to-earnings-growth ratio of 1.39 and a beta of 1.39. Barrett Business Services has a one year low of $26.60 and a one year high of $43.29.

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 issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Friday, November 22nd. Barrett Business Services’s dividend payout ratio is currently 16.89%.

Insider Buying and Selling at Barrett Business Services

In other Barrett Business Services news, Director Thomas J. Carley sold 4,584 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $41.24, for a total transaction of $189,044.16. Following the completion of the sale, the director now directly owns 91,628 shares in the company, valued at $3,778,738.72. This represents a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joseph Stephen Clabby purchased 1,635 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were acquired at an average price of $43.01 per share, with a total value of $70,321.35. Following the completion of the transaction, the director now owns 11,327 shares of the company’s stock, valued at approximately $487,174.27. This trade represents a 16.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Barrett Business Services

Several institutional investors have recently added to or reduced their stakes in BBSI. Mawer Investment Management Ltd. boosted its holdings in shares of Barrett Business Services by 236.4% during the third quarter. Mawer Investment Management Ltd. now owns 1,834,452 shares of the business services provider’s stock worth $68,810,000 after purchasing an additional 1,289,147 shares during the period. Dimensional Fund Advisors LP boosted 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 worth $28,435,000 after purchasing an additional 640,508 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Barrett Business Services by 299.4% during the second quarter. Renaissance Technologies LLC now owns 798,500 shares of the business services provider’s stock worth $26,167,000 after purchasing an additional 598,567 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Barrett Business Services by 4.8% during the third quarter. Geode Capital Management LLC now owns 705,598 shares of the business services provider’s stock worth $26,471,000 after purchasing an additional 32,632 shares during the period. Finally, American Century Companies Inc. boosted 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 worth $17,561,000 after purchasing an additional 326,502 shares during the period. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Barrett Business Services Company 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.