Allspring Global Investments Holdings LLC Sells 953 Shares of Barrett Business Services, Inc. (NASDAQ:BBSI)

Allspring Global Investments Holdings LLC cut its position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,039 shares of the business services provider’s stock after selling 953 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.15% of Barrett Business Services worth $1,163,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BBSI. Ramirez Asset Management Inc. bought a new stake in shares of Barrett Business Services in the 3rd quarter valued at approximately $45,000. Gladius Capital Management LP lifted its stake in shares of Barrett Business Services by 82.2% in the 3rd quarter. Gladius Capital Management LP now owns 1,971 shares of the business services provider’s stock valued at $178,000 after purchasing an additional 889 shares during the last quarter. Arizona State Retirement System bought a new stake in shares of Barrett Business Services in the 4th quarter valued at approximately $218,000. SG Americas Securities LLC bought a new stake in shares of Barrett Business Services in the 4th quarter valued at approximately $226,000. Finally, Cox Capital Mgt LLC bought a new stake in shares of Barrett Business Services in the 4th quarter valued at approximately $233,000. 86.76% of the stock is owned by institutional investors.

Barrett Business Services Stock Performance

Shares of BBSI stock opened at $123.47 on Wednesday. Barrett Business Services, Inc. has a 52-week low of $76.22 and a 52-week high of $130.00. The firm has a market capitalization of $807.00 million, a P/E ratio of 16.62, a P/E/G ratio of 1.12 and a beta of 1.35. The stock has a 50 day moving average price of $119.88 and a 200 day moving average price of $111.66.

Barrett Business Services (NASDAQ:BBSI) last issued its earnings results on Wednesday, February 28th. The business services provider reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.29. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.02 billion. Barrett Business Services had a return on equity of 27.69% and a net margin of 4.73%. As a group, sell-side analysts forecast that Barrett Business Services, Inc. will post 7.78 EPS for the current year.

Barrett Business Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Thursday, March 14th. Barrett Business Services’s dividend payout ratio (DPR) is presently 16.15%.

Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $141.00 price objective on shares of Barrett Business Services in a research note on Monday.

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.