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

GW&K Investment Management LLC reduced its stake in Barrett Business Services, Inc. (NASDAQ:BBSI) by 3.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 476,100 shares of the business services provider’s stock after selling 17,333 shares during the quarter. GW&K Investment Management LLC owned approximately 1.86% of Barrett Business Services worth $21,101,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. Tripletail Wealth Management LLC acquired a new position in shares of Barrett Business Services in the third quarter valued at $34,000. Farther Finance Advisors LLC boosted its holdings in shares of Barrett Business Services by 1,388.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 893 shares of the business services provider’s stock worth $40,000 after acquiring an additional 833 shares in the last quarter. AlphaQuest LLC acquired a new position in shares of Barrett Business Services in the 3rd quarter worth approximately $54,000. State of Alaska Department of Revenue bought a new stake in Barrett Business Services during the 3rd quarter worth approximately $66,000. Finally, NewEdge Advisors LLC grew its position in Barrett Business Services by 270.2% during the 2nd quarter. NewEdge Advisors LLC now owns 1,999 shares of the business services provider’s stock worth $83,000 after acquiring an additional 1,459 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BBSI. Zacks Research cut Barrett Business Services from a “hold” rating to a “strong sell” rating in a research note on Friday, February 27th. Roth Mkm decreased their target price on Barrett Business Services from $54.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Barrett Business Services in a research report on Monday, December 29th. Barrington Research dropped their target price 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. Finally, CJS Securities raised shares of Barrett Business Services to a “strong-buy” rating in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.50.

Barrett Business Services Trading Up 0.4%

Shares of BBSI opened at $29.22 on Friday. The company’s fifty day simple moving average is $35.14 and its 200 day simple moving average is $39.13. Barrett Business Services, Inc. has a 1-year low of $25.33 and a 1-year high of $49.65. The company has a market cap of $736.34 million, a price-to-earnings ratio of 13.98, a PEG ratio of 1.01 and a beta of 1.02.

Barrett Business Services (NASDAQ:BBSI) last released its quarterly earnings data on Wednesday, February 25th. The business services provider reported $0.64 earnings per share for the quarter, hitting the consensus estimate of $0.64. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $323.43 million. Barrett Business Services had a net margin of 4.39% and a return on equity of 23.67%. Barrett Business Services’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 EPS. As a group, research analysts forecast that Barrett Business Services, Inc. will post 2 earnings per share for the current year.

Barrett Business Services Announces Dividend

The company 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 $0.08 dividend. 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 dividend payout ratio is presently 15.31%.

About Barrett Business Services

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.