68,321 Shares in Barrett Business Services, Inc. (BBSI) Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. acquired a new position in Barrett Business Services, Inc. (NASDAQ:BBSI) during the third quarter, Holdings Channel reports. The firm acquired 68,321 shares of the business services provider’s stock, valued at approximately $4,562,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BBSI. Foundry Partners LLC bought a new stake in shares of Barrett Business Services in the 3rd quarter worth $5,185,000. BlackRock Inc. raised its stake in shares of Barrett Business Services by 9.4% in the 2nd quarter. BlackRock Inc. now owns 476,832 shares of the business services provider’s stock worth $46,047,000 after buying an additional 40,940 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Barrett Business Services by 10.0% in the 2nd quarter. Renaissance Technologies LLC now owns 406,500 shares of the business services provider’s stock worth $39,256,000 after buying an additional 36,800 shares in the last quarter. American Century Companies Inc. raised its position in shares of Barrett Business Services by 627.4% during the second quarter. American Century Companies Inc. now owns 32,335 shares of the business services provider’s stock worth $3,123,000 after purchasing an additional 27,890 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Barrett Business Services by 34.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 107,840 shares of the business services provider’s stock worth $10,415,000 after purchasing an additional 27,842 shares during the period. 82.27% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently issued reports on the company. BidaskClub lowered Barrett Business Services from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Zacks Investment Research lowered Barrett Business Services from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. ValuEngine lowered Barrett Business Services from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Finally, Sidoti assumed coverage on Barrett Business Services in a research report on Tuesday, October 9th. They set a “buy” rating and a $95.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $97.50.

In other news, Director Anthony Meeker sold 1,000 shares of the business’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $66.88, for a total transaction of $66,880.00. Following the sale, the director now directly owns 11,894 shares of the company’s stock, valued at $795,470.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.60% of the stock is owned by insiders.

Shares of Barrett Business Services stock opened at $66.83 on Friday. The firm has a market cap of $491.86 million, a PE ratio of 18.83 and a beta of 0.53. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.05. Barrett Business Services, Inc. has a 12-month low of $56.10 and a 12-month high of $98.76.

Barrett Business Services (NASDAQ:BBSI) last announced its earnings results on Tuesday, August 7th. The business services provider reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.26). The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.42 billion. Barrett Business Services had a return on equity of 33.22% and a net margin of 2.91%. Equities research analysts predict that Barrett Business Services, Inc. will post 4.27 EPS for the current fiscal year.

About Barrett Business Services

Barrett Business Services, Inc provides business management solutions for small and medium-sized companies in the United States. The company has management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.

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Institutional Ownership by Quarter for Barrett Business Services (NASDAQ:BBSI)

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