Barrett Business Services (NASDAQ:BBSI) Hits New 1-Year High – Here’s What Happened

Barrett Business Services, Inc. (NASDAQ:BBSI)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $43.23 and last traded at $43.23, with a volume of 1547 shares. The stock had previously closed at $42.79.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. StockNews.com cut shares of Barrett Business Services from a “buy” rating to a “hold” rating in a report on Monday. Barrington Research lifted their price target on Barrett Business Services from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Roth Mkm increased their price target on Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Barrett Business Services Trading Down 1.6 %

The business has a fifty day simple moving average of $37.45 and a 200 day simple moving average of $34.87. The stock has a market capitalization of $1.09 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 1.43 and a beta of 1.39.

Barrett Business Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Friday, November 22nd. Barrett Business Services’s payout ratio is 16.89%.

Insider Activity

In other Barrett Business Services news, CEO Gary Kramer sold 805 shares of the business’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 sale, the chief executive officer now owns 276,831 shares of the company’s stock, valued at $9,689,085. The trade was a 0.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Barrett Business Services

A number of large investors have recently modified their holdings of BBSI. Verition Fund Management LLC bought a new position in shares of Barrett Business Services in the third quarter worth $246,000. Martingale Asset Management L P increased its stake in Barrett Business Services by 5.9% in the 3rd quarter. Martingale Asset Management L P now owns 52,178 shares of the business services provider’s stock worth $1,957,000 after acquiring an additional 2,904 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Barrett Business Services by 81.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,955 shares of the business services provider’s stock valued at $223,000 after acquiring an additional 2,675 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Barrett Business Services by 5.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,310 shares of the business services provider’s stock valued at $462,000 after acquiring an additional 679 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Barrett Business Services during the third quarter worth about $77,000. 86.76% of the stock is currently owned by institutional investors.

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.