Barrett Business Services, Inc. (NASDAQ:BBSI) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its holdings in Barrett Business Services, Inc. (NASDAQ:BBSI) by 9.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,666 shares of the business services provider’s stock after selling 276 shares during the period. Wedge Capital Management L L P NC’s holdings in Barrett Business Services were worth $220,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc boosted its holdings in shares of Barrett Business Services by 29.1% in the fourth quarter. Legal & General Group Plc now owns 1,349 shares of the business services provider’s stock valued at $77,000 after purchasing an additional 304 shares during the period. FMR LLC increased its position in Barrett Business Services by 97.0% during the fourth quarter. FMR LLC now owns 152,531 shares of the business services provider’s stock worth $8,732,000 after purchasing an additional 75,117 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Barrett Business Services by 49,366.7% during the first quarter. BNP Paribas Arbitrage SA now owns 1,484 shares of the business services provider’s stock worth $115,000 after purchasing an additional 1,481 shares during the last quarter. EagleClaw Capital Managment LLC increased its position in Barrett Business Services by 10.0% during the first quarter. EagleClaw Capital Managment LLC now owns 12,075 shares of the business services provider’s stock worth $934,000 after purchasing an additional 1,100 shares during the last quarter. Finally, River Road Asset Management LLC increased its position in Barrett Business Services by 4.4% during the first quarter. River Road Asset Management LLC now owns 106,338 shares of the business services provider’s stock worth $8,223,000 after purchasing an additional 4,440 shares during the last quarter. Institutional investors own 82.70% of the company’s stock.

In other news, Director James B. Hicks sold 2,176 shares of Barrett Business Services stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $85.20, for a total transaction of $185,395.20. Following the sale, the director now directly owns 17,618 shares of the company’s stock, valued at $1,501,053.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.80% of the company’s stock.

Shares of BBSI stock traded up $0.44 during trading hours on Tuesday, reaching $88.32. The stock had a trading volume of 1,123 shares, compared to its average volume of 55,562. The firm has a market capitalization of $658.76 million, a PE ratio of 17.83 and a beta of 0.95. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50-day simple moving average of $86.08 and a 200-day simple moving average of $78.50. Barrett Business Services, Inc. has a twelve month low of $53.10 and a twelve month high of $91.92.

Barrett Business Services (NASDAQ:BBSI) last released its earnings results on Tuesday, August 6th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.12. Barrett Business Services had a return on equity of 39.94% and a net margin of 5.09%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. On average, equities analysts anticipate that Barrett Business Services, Inc. will post 5.53 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 23rd will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.36%. This is a positive change from Barrett Business Services’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Thursday, August 22nd. Barrett Business Services’s dividend payout ratio (DPR) is presently 20.08%.

Several brokerages recently commented on BBSI. Zacks Investment Research raised shares of Barrett Business Services from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Friday, August 9th. BidaskClub raised shares of Barrett Business Services from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Finally, Roth Capital increased their price objective on shares of Barrett Business Services from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $108.33.

Barrett Business Services Profile

Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce.

Further Reading: Hold Rating

Institutional Ownership by Quarter for Barrett Business Services (NASDAQ:BBSI)

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