Barrett Business Services’ (BBSI) Outperform Rating Reiterated at Barrington Research

Barrett Business Services (NASDAQ:BBSI)‘s stock had its “outperform” rating restated by equities research analysts at Barrington Research in a report released on Wednesday,Benzinga reports. They currently have a $45.00 price target on the business services provider’s stock. Barrington Research’s price target points to a potential upside of 2.51% from the company’s previous close.

Several other brokerages have also recently commented on BBSI. StockNews.com upgraded shares of Barrett Business Services from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Roth Mkm raised their price target on shares of Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Barrett Business Services Trading Up 1.4 %

NASDAQ:BBSI opened at $43.90 on Wednesday. Barrett Business Services has a twelve month low of $27.06 and a twelve month high of $44.39. The company has a 50-day moving average of $39.73 and a 200-day moving average of $36.42. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 1.46 and a beta of 1.42.

Insider Activity

In other news, Director Thomas B. Cusick sold 3,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $43.41, for a total value of $130,230.00. Following the sale, the director now owns 27,776 shares in the company, valued at approximately $1,205,756.16. This trade represents a 9.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Stephen Clabby purchased 1,635 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were acquired at an average price of $43.01 per share, for a total transaction of $70,321.35. Following the purchase, the director now directly owns 11,327 shares of the company’s stock, valued at approximately $487,174.27. This represents a 16.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Mawer Investment Management Ltd. raised its holdings in Barrett Business Services by 236.4% during 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 last quarter. Dimensional Fund Advisors LP boosted its position in Barrett Business Services by 281.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 867,708 shares of the business services provider’s stock worth $28,435,000 after acquiring an additional 640,508 shares during the last quarter. Renaissance Technologies LLC boosted its position in Barrett Business Services by 299.4% during the 2nd quarter. Renaissance Technologies LLC now owns 798,500 shares of the business services provider’s stock worth $26,167,000 after acquiring an additional 598,567 shares during the last quarter. Geode Capital Management LLC boosted its position in Barrett Business Services by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 705,598 shares of the business services provider’s stock worth $26,471,000 after acquiring an additional 32,632 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Barrett Business Services by 155.9% in the 2nd quarter. American Century Companies Inc. now owns 535,896 shares of the business services provider’s stock valued at $17,561,000 after buying an additional 326,502 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

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.