Victory Capital Management Inc. Cuts Holdings in Barrett Business Services, Inc. (NASDAQ:BBSI)

Victory Capital Management Inc. trimmed its position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 12.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,224 shares of the business services provider’s stock after selling 7,257 shares during the period. Victory Capital Management Inc. owned about 0.20% of Barrett Business Services worth $1,921,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BBSI. Dimensional Fund Advisors LP grew its holdings in shares of Barrett Business Services by 281.9% during the second quarter. Dimensional Fund Advisors LP now owns 867,708 shares of the business services provider’s stock worth $28,435,000 after purchasing an additional 640,508 shares during the last quarter. Renaissance Technologies LLC grew its stake in Barrett Business Services by 299.4% in the 2nd quarter. Renaissance Technologies LLC now owns 798,500 shares of the business services provider’s stock valued at $26,167,000 after acquiring an additional 598,567 shares during the last quarter. Mawer Investment Management Ltd. purchased a new position in Barrett Business Services during the 2nd quarter valued at about $17,870,000. American Century Companies Inc. increased its holdings in Barrett Business Services by 155.9% during 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 acquiring an additional 326,502 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC raised its position in Barrett Business Services by 259.8% during 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 acquiring an additional 273,516 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Barrett Business Services Stock Up 1.3 %

BBSI stock opened at $42.76 on Monday. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 1.41 and a beta of 1.39. Barrett Business Services, Inc. has a 52-week low of $26.60 and a 52-week high of $43.29. The stock’s fifty day simple moving average is $38.20 and its 200-day simple moving average is $35.41.

Barrett Business Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a $0.08 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.32 annualized dividend and a dividend yield of 0.75%. Barrett Business Services’s dividend payout ratio is presently 16.89%.

Insider Activity at Barrett Business Services

In other 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, with a total value of $70,321.35. Following the purchase, the director now directly owns 11,327 shares of the company’s stock, valued at approximately $487,174.27. This trade represents a 16.87 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas J. Carley sold 4,584 shares of Barrett Business Services stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.24, for a total transaction of $189,044.16. Following the transaction, the director now directly owns 91,628 shares in the company, valued at approximately $3,778,738.72. This trade represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BBSI. Roth Mkm raised their price objective on shares of Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. StockNews.com upgraded Barrett Business Services from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Barrington Research boosted their price target on Barrett Business Services from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th.

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.