Allspring Global Investments Holdings LLC Cuts Stock Holdings in Barrett Business Services, Inc. (NASDAQ:BBSI)

Allspring Global Investments Holdings LLC lessened its position in Barrett Business Services, Inc. (NASDAQ:BBSI) by 88.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,482 shares of the business services provider’s stock after selling 42,001 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Barrett Business Services were worth $238,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its stake in Barrett Business Services by 27.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 110,331 shares of the business services provider’s stock valued at $4,139,000 after purchasing an additional 23,933 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Barrett Business Services by 29.7% in the third quarter. Principal Financial Group Inc. now owns 17,300 shares of the business services provider’s stock valued at $649,000 after buying an additional 3,960 shares during the last quarter. Summit Global Investments lifted its stake in shares of Barrett Business Services by 1.5% in the third quarter. Summit Global Investments now owns 24,456 shares of the business services provider’s stock worth $917,000 after buying an additional 352 shares in the last quarter. Huntington National Bank acquired a new position in Barrett Business Services during the third quarter worth about $39,000. Finally, Thrivent Financial for Lutherans acquired a new position in Barrett Business Services during the third quarter worth about $16,422,000. 86.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Barrett Business Services news, 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 completion of the transaction, the director now directly owns 27,776 shares of the company’s stock, valued at $1,205,756.16. The trade was a 9.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BBSI has been the topic of a number of research reports. StockNews.com raised shares of Barrett Business Services from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Barrington Research reiterated an “outperform” rating and set a $45.00 price objective on shares of Barrett Business Services in a research report on Wednesday, December 11th. Finally, Roth Mkm upped their target price on Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Barrett Business Services Price Performance

Barrett Business Services stock opened at $40.35 on Wednesday. The firm has a 50 day simple moving average of $42.72 and a 200-day simple moving average of $39.95. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 1.21 and a beta of 1.41. Barrett Business Services, Inc. has a 1-year low of $28.42 and a 1-year high of $44.97.

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.