Barrett Business Services (NASDAQ:BBSI) EVP Sells $51,710.04 in Stock

Barrett Business Services, Inc. (NASDAQ:BBSI) EVP James Potts sold 1,803 shares of Barrett Business Services stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $28.68, for a total value of $51,710.04. Following the completion of the sale, the executive vice president owned 33,837 shares of the company’s stock, valued at $970,445.16. The trade was a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Barrett Business Services Stock Down 1.4%

NASDAQ:BBSI traded down $0.39 during mid-day trading on Wednesday, reaching $28.15. The company’s stock had a trading volume of 229,580 shares, compared to its average volume of 373,444. Barrett Business Services, Inc. has a 1 year low of $25.33 and a 1 year high of $49.65. The stock has a fifty day moving average of $33.55 and a 200-day moving average of $37.82. The firm has a market capitalization of $709.38 million, a PE ratio of 13.47, a price-to-earnings-growth ratio of 0.99 and a beta of 1.02.

Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings results on Wednesday, February 25th. The business services provider reported $0.64 EPS for the quarter, meeting the consensus estimate of $0.64. Barrett Business Services had a net margin of 4.39% and a return on equity of 23.67%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $323.43 million. During the same quarter in the previous year, the business posted $0.63 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts expect that Barrett Business Services, Inc. will post 2 earnings per share for the current year.

Barrett Business Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.1%. Barrett Business Services’s payout ratio is 15.31%.

Analyst Ratings Changes

Several analysts have issued reports on BBSI shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Barrett Business Services in a research report on Monday, December 29th. CJS Securities upgraded Barrett Business Services to a “strong-buy” rating in a research note on Thursday, December 11th. Zacks Research downgraded Barrett Business Services from a “hold” rating to a “strong sell” rating in a research report on Friday, February 27th. Barrington Research reduced their target price on shares of Barrett Business Services from $46.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Finally, Roth Mkm decreased their price target on shares of Barrett Business Services from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.50.

Institutional Trading of Barrett Business Services

Hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Barrett Business Services by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,219 shares of the business services provider’s stock worth $626,000 after purchasing an additional 633 shares in the last quarter. Millennium Management LLC acquired a new position in Barrett Business Services during the 1st quarter valued at about $3,747,000. Jane Street Group LLC acquired a new position in Barrett Business Services during the 1st quarter valued at about $1,732,000. Envestnet Asset Management Inc. purchased a new stake in Barrett Business Services in the second quarter valued at about $454,000. Finally, Bank of New York Mellon Corp raised its stake in Barrett Business Services by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 154,008 shares of the business services provider’s stock valued at $6,421,000 after buying an additional 1,578 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

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.