Assenagon Asset Management S.A. bought a new position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI – Get Rating) in the 1st quarter, HoldingsChannel.com reports. The firm bought 24,318 shares of the business services provider’s stock, valued at approximately $1,884,000.
Other institutional investors have also bought and sold shares of the company. Confluence Wealth Services Inc. purchased a new position in Barrett Business Services during the fourth quarter worth about $27,000. Denali Advisors LLC purchased a new position in Barrett Business Services during the fourth quarter worth about $76,000. BNP Paribas Arbitrage SA grew its position in Barrett Business Services by 62.7% during the fourth quarter. BNP Paribas Arbitrage SA now owns 3,544 shares of the business services provider’s stock worth $245,000 after buying an additional 1,366 shares in the last quarter. PDT Partners LLC bought a new stake in Barrett Business Services during the fourth quarter worth about $371,000. Finally, UBS Asset Management Americas Inc. lifted its stake in Barrett Business Services by 23.0% during the third quarter. UBS Asset Management Americas Inc. now owns 5,350 shares of the business services provider’s stock worth $408,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 81.74% of the company’s stock.
Several equities research analysts have issued reports on the company. StockNews.com lowered Barrett Business Services from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 13th. Barrington Research lifted their price target on Barrett Business Services from $85.00 to $102.00 in a research note on Thursday, May 5th. Roth Capital reaffirmed a “buy” rating on shares of Barrett Business Services in a research note on Thursday, May 5th. TheStreet lowered Barrett Business Services from a “b-” rating to a “c+” rating in a research note on Tuesday, May 24th. Finally, Sidoti reaffirmed a “buy” rating and set a $97.00 price target on shares of Barrett Business Services in a research note on Tuesday, June 14th. Four analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $102.33.
NASDAQ BBSI opened at $73.15 on Friday. Barrett Business Services, Inc. has a 1-year low of $57.76 and a 1-year high of $86.82. The stock has a 50-day moving average of $73.11 and a 200-day moving average of $70.71. The firm has a market cap of $535.46 million, a PE ratio of 12.97, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39.
Barrett Business Services (NASDAQ:BBSI – Get Rating) last released its earnings results on Wednesday, May 4th. The business services provider reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.67. Barrett Business Services had a return on equity of 21.43% and a net margin of 4.37%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the company posted ($0.60) EPS. On average, sell-side analysts anticipate that Barrett Business Services, Inc. will post 6.07 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 3rd. Shareholders of record on Friday, May 20th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Thursday, May 19th. Barrett Business Services’s payout ratio is 21.28%.
In other Barrett Business Services news, CEO Gary Kramer purchased 1,000 shares of the stock in a transaction on Friday, May 20th. The stock was acquired at an average price of $70.13 per share, with a total value of $70,130.00. Following the transaction, the chief executive officer now directly owns 34,451 shares of the company’s stock, valued at approximately $2,416,048.63. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company’s stock.
About Barrett Business Services (Get Rating)
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.
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