Barrett Business Services (NASDAQ:BBSI) Hits New 1-Year High – What’s Next?

Barrett Business Services, Inc. (NASDAQ:BBSI)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $43.23 and last traded at $43.23, with a volume of 1547 shares. The stock had previously closed at $42.79.

Analysts Set New Price Targets

Several equities research analysts have commented on BBSI shares. Roth Mkm boosted their target price on Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barrington Research boosted their price target on Barrett Business Services from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, StockNews.com cut Barrett Business Services from a “buy” rating to a “hold” rating in a research report on Monday.

Barrett Business Services Stock Up 0.5 %

The business has a 50 day moving average of $37.18 and a 200 day moving average of $34.76. The company has a market capitalization of $1.12 billion, a P/E ratio of 22.58, a price-to-earnings-growth ratio of 1.43 and a beta of 1.39.

Barrett Business Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a $0.08 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.32 annualized dividend and a dividend yield of 0.74%. Barrett Business Services’s payout ratio is 16.89%.

Insider Transactions at Barrett Business Services

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

Hedge Funds Weigh In On Barrett Business Services

Institutional investors and hedge funds have recently modified their holdings of the stock. Mawer Investment Management Ltd. raised its holdings in Barrett Business Services by 236.4% in the 3rd quarter. Mawer Investment Management Ltd. now owns 1,834,452 shares of the business services provider’s stock worth $68,810,000 after purchasing an additional 1,289,147 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Barrett Business Services by 281.9% during the second 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 last quarter. Renaissance Technologies LLC raised its holdings in shares of Barrett Business Services by 299.4% during the second quarter. Renaissance Technologies LLC now owns 798,500 shares of the business services provider’s stock valued at $26,167,000 after acquiring an additional 598,567 shares during the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Barrett Business Services in the third quarter valued at approximately $16,422,000. Finally, American Century Companies Inc. grew its position in shares of Barrett Business Services by 155.9% in the second quarter. American Century Companies Inc. now owns 535,896 shares of the business services provider’s stock valued at $17,561,000 after purchasing an additional 326,502 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

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.