Barrett Business Services, Inc. (NASDAQ:BBSI) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in Barrett Business Services, Inc. (NASDAQ:BBSI) by 19.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 546,510 shares of the business services provider’s stock after purchasing an additional 88,350 shares during the period. JPMorgan Chase & Co. owned 2.11% of Barrett Business Services worth $20,500,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Mawer Investment Management Ltd. increased its position in Barrett Business Services by 236.4% during the 3rd 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 stake in shares of Barrett Business Services by 281.9% in 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 buying an additional 640,508 shares in the last quarter. Renaissance Technologies LLC grew its holdings in 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 acquiring an additional 598,567 shares during the period. Thrivent Financial for Lutherans purchased a new position in Barrett Business Services in the third quarter worth $16,422,000. Finally, American Century Companies Inc. lifted its holdings in Barrett Business Services by 155.9% in 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 acquiring an additional 326,502 shares during the period. 86.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BBSI. StockNews.com raised shares of Barrett Business Services from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Roth Mkm upped their target price on shares of Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Barrett Business Services in a report on Wednesday, December 11th.

Barrett Business Services Stock Up 1.3 %

NASDAQ:BBSI opened at $41.88 on Thursday. Barrett Business Services, Inc. has a 52-week low of $27.06 and a 52-week high of $44.39. The stock has a fifty day simple moving average of $42.20 and a 200-day simple moving average of $37.85. The company has a market capitalization of $1.09 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 1.46 and a beta of 1.42.

Barrett Business Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Friday, November 22nd. Barrett Business Services’s payout ratio is currently 16.93%.

Insider Buying and Selling at Barrett Business Services

In related news, Director Joseph Stephen Clabby acquired 1,635 shares of Barrett Business Services stock in a transaction dated Tuesday, November 12th. The shares were acquired at an average cost of $43.01 per share, for a total transaction of $70,321.35. Following the completion of the transaction, the director now directly owns 11,327 shares of the company’s stock, valued at $487,174.27. The trade was a 16.87 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas B. Cusick sold 3,000 shares of Barrett Business Services stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $43.41, for a total value of $130,230.00. Following the sale, the director now owns 27,776 shares of the company’s stock, valued at approximately $1,205,756.16. This represents a 9.75 % decrease in their position. The disclosure for this sale can be found here. 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.