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 on Tuesday, March 17th. The stock was sold at an average price of $28.68, for a total transaction of $51,710.04. Following the completion of the transaction, the executive vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Barrett Business Services Price Performance

Shares of NASDAQ BBSI traded down $0.39 during mid-day trading on Wednesday, hitting $28.15. 229,580 shares of the company’s stock traded hands, 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 company’s 50-day moving average is $33.55 and its two-hundred day moving average is $37.82. The company has a market capitalization of $709.38 million, a P/E ratio of 13.47, a PEG ratio of 0.99 and a beta of 1.02.

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

Barrett Business Services Dividend Announcement

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

Analysts Set New Price Targets

BBSI has been the topic of several analyst reports. Barrington Research cut their price target on shares of Barrett Business Services from $46.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Barrett Business Services in a research report on Monday, December 29th. Zacks Research cut Barrett Business Services from a “hold” rating to a “strong sell” rating in a research note on Friday, February 27th. CJS Securities raised Barrett Business Services to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Roth Mkm dropped their price objective 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. One investment 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.50.

Institutional Investors Weigh In On Barrett Business Services

Large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Barrett Business Services by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,219 shares of the business services provider’s stock worth $626,000 after acquiring an additional 633 shares during the period. Millennium Management LLC bought a new position in Barrett Business Services in the first quarter worth approximately $3,747,000. Jane Street Group LLC purchased a new position in Barrett Business Services during the 1st quarter worth $1,732,000. Envestnet Asset Management Inc. purchased a new position in Barrett Business Services during the 2nd quarter worth $454,000. Finally, Bank of New York Mellon Corp raised its position in Barrett Business Services by 1.0% during 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 purchasing an additional 1,578 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Barrett Business Services Company 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.