Barrett Business Services (NASDAQ:BBSI) EVP James Potts Sells 3,490 Shares

Barrett Business Services, Inc. (NASDAQ:BBSI) EVP James Potts sold 3,490 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $38.00, for a total value of $132,620.00. Following the sale, the executive vice president directly owned 32,035 shares in the company, valued at $1,217,330. This trade represents a 9.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Barrett Business Services Price Performance

BBSI stock traded up $0.44 during mid-day trading on Tuesday, reaching $38.05. 202,149 shares of the company traded hands, compared to its average volume of 243,837. The company has a market capitalization of $934.51 million, a P/E ratio of 24.71, a P/E/G ratio of 1.26 and a beta of 0.95. Barrett Business Services, Inc. has a 52-week low of $25.33 and a 52-week high of $49.65. The company has a fifty day moving average price of $32.60 and a 200-day moving average price of $32.78.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings results on Wednesday, May 6th. The business services provider reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Barrett Business Services had a net margin of 3.24% and a return on equity of 22.89%. The firm had revenue of $307.00 million for the quarter, compared to the consensus estimate of $306.68 million. During the same period in the prior year, the firm posted ($0.04) earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts forecast that Barrett Business Services, Inc. will post 1.88 EPS for the current year.

Barrett Business Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a $0.08 dividend. The ex-dividend date was Friday, May 22nd. This represents a $0.32 annualized dividend and a yield of 0.8%. Barrett Business Services’s dividend payout ratio is currently 20.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BBSI shares. Wall Street Zen upgraded shares of Barrett Business Services from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Zacks Research upgraded Barrett Business Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Weiss Ratings raised Barrett Business Services from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 8th. Finally, Barrington Research restated an “outperform” rating and set a $41.00 target price on shares of Barrett Business Services in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.50.

Institutional Investors Weigh In On Barrett Business Services

Several hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP increased its position in shares of Barrett Business Services by 31.6% during the 4th quarter. Royce & Associates LP now owns 870,863 shares of the business services provider’s stock valued at $31,534,000 after purchasing an additional 208,865 shares during the last quarter. Trigran Investments Inc. raised its holdings in shares of Barrett Business Services by 62.3% during the 4th quarter. Trigran Investments Inc. now owns 648,738 shares of the business services provider’s stock valued at $23,491,000 after buying an additional 249,052 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Barrett Business Services by 49.4% in the 4th quarter. Teacher Retirement System of Texas now owns 193,145 shares of the business services provider’s stock worth $6,994,000 after buying an additional 63,854 shares during the last quarter. GW&K Investment Management LLC lifted its position in Barrett Business Services by 8.0% in the 4th quarter. GW&K Investment Management LLC now owns 514,047 shares of the business services provider’s stock worth $18,614,000 after buying an additional 37,947 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Barrett Business Services in the fourth quarter worth approximately $881,000. Institutional investors own 86.76% of the company’s stock.

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.