Allspring Global Investments Holdings LLC Has $1.78 Million Stock Holdings in Barrett Business Services, Inc. (NASDAQ:BBSI)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 27.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,483 shares of the business services provider’s stock after selling 17,641 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.18% of Barrett Business Services worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Barrett Business Services by 281.9% during the 2nd 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 during the last quarter. Renaissance Technologies LLC increased its stake in shares of Barrett Business Services by 299.4% during the 2nd quarter. Renaissance Technologies LLC now owns 798,500 shares of the business services provider’s stock worth $26,167,000 after purchasing an additional 598,567 shares during the last quarter. Mawer Investment Management Ltd. bought a new position in shares of Barrett Business Services during the 2nd quarter valued at $17,870,000. American Century Companies Inc. lifted its stake in shares of Barrett Business Services by 155.9% in the 2nd quarter. American Century Companies Inc. now owns 535,896 shares of the business services provider’s stock valued at $17,561,000 after purchasing an additional 326,502 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC boosted its holdings in Barrett Business Services by 259.8% in the second quarter. Pacific Ridge Capital Partners LLC now owns 378,786 shares of the business services provider’s stock worth $12,413,000 after purchasing an additional 273,516 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Gary Kramer sold 805 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $35.00, for a total value of $28,175.00. Following the sale, the chief executive officer now directly owns 276,831 shares in the company, valued at $9,689,085. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have sold 35,133 shares of company stock worth $1,231,357. Company insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Roth Mkm boosted their price target on Barrett Business Services from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Barrington Research restated an “outperform” rating and issued a $41.00 target price on shares of Barrett Business Services in a report on Tuesday.

Barrett Business Services Price Performance

Shares of Barrett Business Services stock opened at $36.99 on Thursday. The firm has a 50 day simple moving average of $36.52 and a 200 day simple moving average of $34.15. Barrett Business Services, Inc. has a fifty-two week low of $21.95 and a fifty-two week high of $38.07. The firm has a market cap of $967.92 million, a P/E ratio of 20.32, a P/E/G ratio of 1.24 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 (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The business had revenue of $279.60 million for the quarter, compared to analyst estimates of $273.13 million. Barrett Business Services had a return on equity of 25.69% and a net margin of 4.50%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the company earned $0.62 EPS. On average, sell-side analysts expect that Barrett Business Services, Inc. will post 1.99 EPS for the current year.

About Barrett Business Services

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.