Barrett Business Services, Inc. (NASDAQ:BBSI) Director Purchases $70,321.35 in Stock

Barrett Business Services, Inc. (NASDAQ:BBSI) Director Joseph Stephen Clabby bought 1,635 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was purchased at an average cost of $43.01 per share, for a total transaction of $70,321.35. Following the completion of the acquisition, the director now owns 11,327 shares in the company, valued at $487,174.27. This trade represents a 16.87 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Barrett Business Services Price Performance

Shares of NASDAQ:BBSI opened at $41.61 on Wednesday. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 1.39 and a beta of 1.39. The firm has a 50 day simple moving average of $37.83 and a 200 day simple moving average of $35.16. Barrett Business Services, Inc. has a one year low of $26.60 and a one year high of $43.29.

Barrett Business Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Friday, November 22nd. Barrett Business Services’s payout ratio is 16.89%.

Hedge Funds Weigh In On Barrett Business Services

Several large investors have recently modified their holdings of the business. Continental Investors Services Inc. acquired a new stake in shares of Barrett Business Services during the third quarter worth $216,000. Geode Capital Management LLC grew its holdings in shares of Barrett Business Services by 4.8% during the third quarter. Geode Capital Management LLC now owns 705,598 shares of the business services provider’s stock valued at $26,471,000 after buying an additional 32,632 shares during the last quarter. Barclays PLC grew its holdings in shares of Barrett Business Services by 42.9% during the third quarter. Barclays PLC now owns 61,332 shares of the business services provider’s stock valued at $2,300,000 after buying an additional 18,414 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Barrett Business Services during the third quarter valued at about $246,000. Finally, Martingale Asset Management L P lifted its position in shares of Barrett Business Services by 5.9% during the third quarter. Martingale Asset Management L P now owns 52,178 shares of the business services provider’s stock valued at $1,957,000 after purchasing an additional 2,904 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BBSI shares. Roth Mkm upped their price target on shares of Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barrington Research upped their price target on shares of Barrett Business Services from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, StockNews.com upgraded shares of Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Tuesday.

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.