GW&K Investment Management LLC Has $21.10 Million Holdings in Barrett Business Services, Inc. $BBSI

GW&K Investment Management LLC trimmed its position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 3.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 476,100 shares of the business services provider’s stock after selling 17,333 shares during the period. GW&K Investment Management LLC’s holdings in Barrett Business Services were worth $21,101,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its stake in Barrett Business Services by 20.6% in the third quarter. Thrivent Financial for Lutherans now owns 1,901,425 shares of the business services provider’s stock valued at $84,271,000 after buying an additional 324,715 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Barrett Business Services by 821,045.1% during the 3rd quarter. Bessemer Group Inc. now owns 418,784 shares of the business services provider’s stock worth $18,562,000 after buying an additional 418,733 shares during the period. Trigran Investments Inc. acquired a new position in Barrett Business Services during the 2nd quarter worth about $7,531,000. Bank of New York Mellon Corp grew its position in shares of Barrett Business Services by 1.0% in the 2nd 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. Finally, CSM Advisors LLC acquired a new stake in shares of Barrett Business Services in the second quarter valued at about $6,155,000. 86.76% of the stock is owned by institutional investors.

Barrett Business Services Trading Up 0.4%

NASDAQ BBSI opened at $29.22 on Friday. The company has a fifty day simple moving average of $35.14 and a 200 day simple moving average of $39.13. Barrett Business Services, Inc. has a 12-month low of $25.33 and a 12-month high of $49.65. The company has a market cap of $736.34 million, a P/E ratio of 13.98, a PEG ratio of 1.01 and a beta of 1.02.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings results on Wednesday, February 25th. The business services provider reported $0.64 earnings per share for the quarter, meeting the consensus estimate of $0.64. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $323.43 million. Barrett Business Services had a net margin of 4.39% and a return on equity of 23.67%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 EPS. Sell-side analysts predict that Barrett Business Services, Inc. will post 2 EPS for the current year.

Barrett Business Services Dividend Announcement

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

Analysts Set New Price Targets

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

Barrett Business Services Profile

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.