Barrett Business Services (NASDAQ:BBSI) EVP Sells $68,476.00 in Stock

Barrett Business Services, Inc. (NASDAQ:BBSI) EVP James Potts sold 1,802 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $38.00, for a total transaction of $68,476.00. Following the transaction, the executive vice president directly owned 39,012 shares of the company’s stock, valued at $1,482,456. The trade was a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Barrett Business Services Trading Down 0.4%

Shares of BBSI stock opened at $37.24 on Friday. Barrett Business Services, Inc. has a 12-month low of $25.33 and a 12-month high of $49.65. The firm’s 50 day moving average is $33.01 and its 200 day moving average is $32.79. The stock has a market capitalization of $914.61 million, a P/E ratio of 24.18, a P/E/G ratio of 1.25 and a beta of 0.95.

Barrett Business Services (NASDAQ:BBSI) last posted its earnings results on Wednesday, May 6th. The business services provider reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The business had revenue of $307.00 million during the quarter, compared to the consensus estimate of $306.68 million. Barrett Business Services had a net margin of 3.24% and a return on equity of 22.89%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.04) EPS. As a group, equities analysts predict that Barrett Business Services, Inc. will post 1.88 earnings per share for the current year.

Barrett Business Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.32 annualized dividend and a dividend yield of 0.9%. Barrett Business Services’s payout ratio is presently 20.78%.

Hedge Funds Weigh In On Barrett Business Services

A number of institutional investors have recently bought and sold shares of the stock. Polar Asset Management Partners Inc. purchased a new position in Barrett Business Services during the first quarter valued at $8,316,000. Trigran Investments Inc. increased its position in Barrett Business Services by 62.3% in the fourth quarter. Trigran Investments Inc. now owns 648,738 shares of the business services provider’s stock worth $23,491,000 after buying an additional 249,052 shares in the last quarter. Royce & Associates LP increased its position in Barrett Business Services by 31.6% in the fourth quarter. Royce & Associates LP now owns 870,863 shares of the business services provider’s stock worth $31,534,000 after buying an additional 208,865 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Barrett Business Services in the second quarter worth about $5,536,000. Finally, Wellington Management Group LLP raised its stake in shares of Barrett Business Services by 15.3% in the fourth quarter. Wellington Management Group LLP now owns 821,560 shares of the business services provider’s stock worth $29,749,000 after buying an additional 109,069 shares during the period. 86.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on BBSI shares. Zacks Research raised Barrett Business Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Wall Street Zen raised shares of Barrett Business Services from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings upgraded shares of Barrett Business Services from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 8th. Finally, Barrington Research reissued an “outperform” rating and issued a $41.00 price objective on shares of Barrett Business Services in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $41.50.

About Barrett Business Services

Barrett Business Services, Inc (NASDAQ: BBSI) is a professional employer organization (PEO) headquartered in Northridge, California. Founded in 1971 by Barrett K. Levesque, the company provides comprehensive human resources outsourcing solutions to small and mid-sized businesses. Through its consultative model, Barrett Business Services helps clients streamline administrative processes, mitigate regulatory risk and focus on core operations.

The company’s core offerings include payroll administration, employee benefits management, workers’ compensation and risk management services.