Barrington Research Issues Positive Forecast for Barrett Business Services (NASDAQ:BBSI) Stock Price

Barrett Business Services (NASDAQ:BBSI) had its target price raised by Barrington Research from $41.00 to $45.00 in a research report released on Thursday,Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Separately, Roth Mkm increased their target price on Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday.

Barrett Business Services Stock Down 0.2 %

NASDAQ:BBSI traded down $0.09 during trading hours on Thursday, reaching $41.10. 122,395 shares of the stock were exchanged, compared to its average volume of 135,902. Barrett Business Services has a 52 week low of $25.58 and a 52 week high of $41.48. The stock has a market capitalization of $1.07 billion, a P/E ratio of 22.54, a P/E/G ratio of 1.23 and a beta of 1.39. The firm has a 50 day simple moving average of $36.81 and a 200-day simple moving average of $34.47.

Barrett Business Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, November 22nd. Barrett Business Services’s dividend payout ratio is currently 17.53%.

Insider Activity

In related news, CEO Gary Kramer sold 34,288 shares of Barrett Business Services stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $35.05, for a total transaction of $1,201,794.40. Following the transaction, the chief executive officer now owns 242,543 shares of the company’s stock, valued at $8,501,132.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.70% of the stock is owned by insiders.

Institutional Trading of Barrett Business Services

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pacific Ridge Capital Partners LLC raised its holdings in Barrett Business Services by 259.8% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 378,786 shares of the business services provider’s stock worth $12,413,000 after purchasing an additional 273,516 shares during the last quarter. Ironwood Investment Management LLC lifted its position in shares of Barrett Business Services by 155.0% during the second quarter. Ironwood Investment Management LLC now owns 87,856 shares of the business services provider’s stock valued at $2,879,000 after purchasing an additional 53,405 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in Barrett Business Services during the second quarter worth $758,000. Dimensional Fund Advisors LP grew its position in shares of Barrett Business Services by 281.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 867,708 shares of the business services provider’s stock valued at $28,435,000 after acquiring an additional 640,508 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its holdings in Barrett Business Services by 155.7% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 59,324 shares of the business services provider’s stock worth $1,944,000 after acquiring an additional 36,120 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Barrett Business Services Company Profile

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.