Barrett Business Services, Inc. (NASDAQ:BBSI – Get Free Report) EVP James Potts sold 3,487 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $37.55, for a total value of $130,936.85. Following the completion of the transaction, the executive vice president owned 35,525 shares of the company’s stock, valued at approximately $1,333,963.75. The trade was a 8.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Barrett Business Services Price Performance
BBSI stock traded up $0.44 during midday trading on Tuesday, hitting $38.05. The stock had a trading volume of 202,149 shares, compared to its average volume of 243,837. The firm has a market cap of $934.51 million, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 1.26 and a beta of 0.95. The business has a 50-day moving average of $32.60 and a two-hundred day moving average of $32.78. Barrett Business Services, Inc. has a 52-week low of $25.33 and a 52-week high of $49.65.
Barrett Business Services (NASDAQ:BBSI – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The business services provider reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The business had revenue of $307.00 million during the quarter, compared to the consensus estimate of $306.68 million. Barrett Business Services had a return on equity of 22.89% and a net margin of 3.24%.The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.04) earnings per share. Research analysts predict that Barrett Business Services, Inc. will post 1.88 earnings per share for the current year.
Barrett Business Services Announces Dividend
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Mawer Investment Management Ltd. grew its holdings in shares of Barrett Business Services by 0.7% during the fourth quarter. Mawer Investment Management Ltd. now owns 1,964,053 shares of the business services provider’s stock valued at $71,118,000 after buying an additional 13,331 shares during the last quarter. Private Capital Management LLC raised its holdings in Barrett Business Services by 1.2% in the 4th quarter. Private Capital Management LLC now owns 999,371 shares of the business services provider’s stock worth $36,187,000 after acquiring an additional 12,117 shares during the last quarter. Royce & Associates LP lifted its position in Barrett Business Services by 31.6% in the 4th quarter. Royce & Associates LP now owns 870,863 shares of the business services provider’s stock valued at $31,534,000 after acquiring an additional 208,865 shares in the last quarter. Wellington Management Group LLP lifted its position in Barrett Business Services by 15.3% in the 4th quarter. Wellington Management Group LLP now owns 821,560 shares of the business services provider’s stock valued at $29,749,000 after acquiring an additional 109,069 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Barrett Business Services by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 661,181 shares of the business services provider’s stock valued at $19,295,000 after purchasing an additional 25,221 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on BBSI shares. Weiss Ratings upgraded shares of Barrett Business Services from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 8th. Zacks Research upgraded shares of Barrett Business Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Barrington Research reissued an “outperform” rating and issued a $41.00 price target on shares of Barrett Business Services in a research report on Monday, April 27th. Finally, Wall Street Zen upgraded Barrett Business Services from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.50.
Get Our Latest Research Report on BBSI
Barrett Business Services Company Profile
Barrett Business Services, Inc (NASDAQ: BBSI) is a professional employer organization (PEO) headquartered in Northridge, California. Founded in 1971 by Barrett K. Levesque, the company provides comprehensive human resources outsourcing solutions to small and mid-sized businesses. Through its consultative model, Barrett Business Services helps clients streamline administrative processes, mitigate regulatory risk and focus on core operations.
The company’s core offerings include payroll administration, employee benefits management, workers’ compensation and risk management services.
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