Barrett Business Services, Inc. (NASDAQ:BBSI – Get Rating) Director Anthony Meeker sold 1,821 shares of the firm’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $79.27, for a total value of $144,350.67. Following the completion of the transaction, the director now owns 15,721 shares of the company’s stock, valued at approximately $1,246,203.67. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Barrett Business Services Trading Down 1.3 %
Shares of BBSI traded down $1.05 during trading hours on Tuesday, reaching $80.81. 24,812 shares of the company’s stock traded hands, compared to its average volume of 48,052. The stock has a market cap of $572.86 million, a PE ratio of 13.67, a price-to-earnings-growth ratio of 0.91 and a beta of 1.37. The firm’s 50 day simple moving average is $80.90 and its 200-day simple moving average is $76.43. Barrett Business Services, Inc. has a 12 month low of $57.76 and a 12 month high of $86.82.
Barrett Business Services (NASDAQ:BBSI – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The business services provider reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.61. Barrett Business Services had a return on equity of 22.59% and a net margin of 4.33%. During the same quarter in the prior year, the firm posted $2.24 earnings per share. As a group, analysts expect that Barrett Business Services, Inc. will post 6.3 earnings per share for the current fiscal year.
Barrett Business Services Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 19th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.48%. Barrett Business Services’s dividend payout ratio is 20.41%.
Analysts Set New Price Targets
Several brokerages have commented on BBSI. Sidoti restated a “buy” rating and issued a $97.00 target price on shares of Barrett Business Services in a research note on Tuesday, June 14th. TheStreet upgraded Barrett Business Services from a “c+” rating to a “b” rating in a research note on Friday, August 19th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $102.33.
Hedge Funds Weigh In On Barrett Business Services
A number of large investors have recently modified their holdings of the company. Polaris Capital Management LLC raised its holdings in shares of Barrett Business Services by 7,355.4% during the 2nd quarter. Polaris Capital Management LLC now owns 2,065,150 shares of the business services provider’s stock valued at $88,099,000 after buying an additional 2,037,450 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Barrett Business Services by 5.1% during the 1st quarter. BlackRock Inc. now owns 564,551 shares of the business services provider’s stock valued at $43,735,000 after buying an additional 27,181 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Barrett Business Services by 7.4% during the 1st quarter. American Century Companies Inc. now owns 487,202 shares of the business services provider’s stock valued at $37,744,000 after buying an additional 33,598 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Barrett Business Services by 45.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 358,518 shares of the business services provider’s stock worth $26,125,000 after purchasing an additional 112,806 shares during the period. Finally, Private Capital Management LLC increased its stake in Barrett Business Services by 11.3% in the 2nd quarter. Private Capital Management LLC now owns 264,475 shares of the business services provider’s stock worth $19,272,000 after purchasing an additional 26,745 shares during the period.
About Barrett Business Services
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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