Barrett Business Services, Inc. (NASDAQ:BBSI) Shares Sold by L. Roy Papp & Associates LLP

L. Roy Papp & Associates LLP lowered its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 25.9% in the third quarter, Holdings Channel reports. The firm owned 6,280 shares of the business services provider’s stock after selling 2,200 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in Barrett Business Services were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of BBSI. Allspring Global Investments Holdings LLC lifted its position in Barrett Business Services by 29.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,984 shares of the business services provider’s stock worth $1,645,000 after acquiring an additional 2,945 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Barrett Business Services by 10.3% during the first quarter. BNP Paribas Financial Markets now owns 5,462 shares of the business services provider’s stock worth $692,000 after purchasing an additional 509 shares during the period. LSV Asset Management grew its position in Barrett Business Services by 0.3% in the 1st quarter. LSV Asset Management now owns 30,072 shares of the business services provider’s stock valued at $3,811,000 after buying an additional 100 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in Barrett Business Services by 8.7% in the 1st quarter. Hillsdale Investment Management Inc. now owns 42,470 shares of the business services provider’s stock valued at $5,382,000 after buying an additional 3,400 shares during the period. Finally, Quadrature Capital Ltd raised its position in Barrett Business Services by 74.4% during the 1st quarter. Quadrature Capital Ltd now owns 10,435 shares of the business services provider’s stock worth $1,318,000 after buying an additional 4,450 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Barrett Business Services Stock Performance

NASDAQ:BBSI traded down $0.46 during trading hours on Friday, hitting $35.90. The company’s stock had a trading volume of 61,942 shares, compared to its average volume of 135,441. Barrett Business Services, Inc. has a 52-week low of $21.79 and a 52-week high of $38.07. The business’s 50-day moving average is $36.44 and its two-hundred day moving average is $34.02. The company has a market capitalization of $939.40 million, a PE ratio of 19.73, a PEG ratio of 1.24 and a beta of 1.38.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Barrett Business Services had a net margin of 4.50% and a return on equity of 25.69%. The business had revenue of $279.60 million during the quarter, compared to the consensus estimate of $273.13 million. During the same quarter last year, the firm posted $0.62 EPS. The business’s revenue was up 5.7% compared to the same quarter last year. As a group, analysts predict that Barrett Business Services, Inc. will post 1.99 EPS for the current fiscal year.

Barrett Business Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.89%. This is an increase from Barrett Business Services’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, August 16th. Barrett Business Services’s dividend payout ratio (DPR) is presently 17.58%.

Insider Transactions at Barrett Business Services

In related news, CEO Gary Kramer sold 34,288 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $35.05, for a total value of $1,201,794.40. Following the completion of the transaction, the chief executive officer now directly owns 242,543 shares of the company’s stock, valued at $8,501,132.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 35,133 shares of company stock valued at $1,231,357 in the last quarter. 3.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BBSI. Barrington Research lifted their target price on shares of Barrett Business Services from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Roth Mkm lifted their price objective on Barrett Business Services from $40.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 1st.

Barrett Business Services Profile

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.