Barrett Business Services (NASDAQ:BBSI) Sets New 52-Week High – What’s Next?

Barrett Business Services, Inc. (NASDAQ:BBSI) reached a new 52-week high on Monday . The company traded as high as $43.58 and last traded at $43.58, with a volume of 10193 shares traded. The stock had previously closed at $42.76.

Wall Street Analyst Weigh In

A number of research firms have commented on BBSI. Barrington Research lifted their target price on Barrett Business Services from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Roth Mkm lifted their target price on Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, StockNews.com upgraded Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th.

Barrett Business Services Trading Up 0.2 %

The stock has a market cap of $1.13 billion, a PE ratio of 23.01, a P/E/G ratio of 1.43 and a beta of 1.39. The company has a fifty day moving average of $38.34 and a 200-day moving average of $35.49.

Barrett Business Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.08 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.32 annualized dividend and a dividend yield of 0.74%. Barrett Business Services’s dividend payout ratio is presently 16.93%.

Insider Activity at Barrett Business Services

In related news, Director Joseph Stephen Clabby bought 1,635 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average cost of $43.01 per share, with a total value of $70,321.35. Following the purchase, the director now directly owns 11,327 shares of the company’s stock, valued at $487,174.27. This trade represents a 16.87 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas J. Carley sold 4,584 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.24, for a total value of $189,044.16. Following the transaction, the director now directly owns 91,628 shares of the company’s stock, valued at approximately $3,778,738.72. This represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC acquired a new position in shares of Barrett Business Services during the 3rd quarter worth about $349,000. Westside Investment Management Inc. acquired a new stake in shares of Barrett Business Services in the 3rd quarter valued at about $34,000. Continental Investors Services Inc. acquired a new stake in shares of Barrett Business Services in the 3rd quarter valued at about $216,000. Geode Capital Management LLC boosted its position in shares of Barrett Business Services by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 705,598 shares of the business services provider’s stock valued at $26,471,000 after purchasing an additional 32,632 shares during the period. Finally, Barclays PLC raised its stake in Barrett Business Services by 42.9% during the 3rd quarter. Barclays PLC now owns 61,332 shares of the business services provider’s stock valued at $2,300,000 after acquiring an additional 18,414 shares during the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

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.