Barrett Business Services, Inc. (NASDAQ:BBSI) Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its holdings in Barrett Business Services, Inc. (NASDAQ:BBSI) by 306.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,736 shares of the business services provider’s stock after purchasing an additional 29,956 shares during the quarter. Rhumbline Advisers owned about 0.15% of Barrett Business Services worth $1,302,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. CWM LLC raised its position in shares of Barrett Business Services by 12,014.3% during the 2nd quarter. CWM LLC now owns 848 shares of the business services provider’s stock valued at $28,000 after buying an additional 841 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Barrett Business Services by 415.2% during the second quarter. Nisa Investment Advisors LLC now owns 2,906 shares of the business services provider’s stock worth $95,000 after purchasing an additional 2,342 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Barrett Business Services by 300.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the business services provider’s stock worth $107,000 after purchasing an additional 2,460 shares in the last quarter. Perkins Coie Trust Co acquired a new position in shares of Barrett Business Services during the second quarter worth $118,000. Finally, SG Americas Securities LLC purchased a new stake in Barrett Business Services in the second quarter valued at $134,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BBSI has been the subject of a number of research reports. Sidoti cut shares of Barrett Business Services from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a research report on Wednesday, June 5th. Barrington Research upped their target price on shares of Barrett Business Services from $35.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. StockNews.com lowered shares of Barrett Business Services from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 29th. Finally, Roth Mkm increased their price target on shares of Barrett Business Services from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, August 1st.

Barrett Business Services Stock Performance

Shares of NASDAQ BBSI opened at $36.78 on Tuesday. Barrett Business Services, Inc. has a 1 year low of $21.59 and a 1 year high of $37.81. The firm’s 50 day moving average price is $35.60 and its 200 day moving average price is $33.01. The firm has a market cap of $962.42 million, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 1.20 and a beta of 1.38.

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

Barrett Business Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.08 dividend. 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. This is an increase from Barrett Business Services’s previous quarterly dividend of $0.08. Barrett Business Services’s dividend payout ratio (DPR) is currently 17.58%.

Insider Activity

In related news, CEO Gary Kramer sold 805 shares of the firm’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 approximately $9,689,085. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 35,133 shares of company stock valued at $1,231,357. Company insiders own 3.70% of the company’s stock.

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.