CWC Advisors LLC. Buys New Shares in Barrett Business Services, Inc. (NASDAQ:BBSI)

CWC Advisors LLC. acquired a new position in Barrett Business Services, Inc. (NASDAQ:BBSI) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,187 shares of the business services provider’s stock, valued at approximately $307,000.

Several other large investors have also made changes to their positions in BBSI. Allspring Global Investments Holdings LLC boosted its stake in Barrett Business Services by 29.3% in 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 purchasing an additional 2,945 shares during the period. BNP Paribas Financial Markets increased its position in Barrett Business Services by 10.3% in 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 last quarter. LSV Asset Management lifted its position in Barrett Business Services by 0.3% during the first quarter. LSV Asset Management now owns 30,072 shares of the business services provider’s stock valued at $3,811,000 after purchasing an additional 100 shares during the last quarter. Hillsdale Investment Management Inc. grew its stake in shares of 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 worth $5,382,000 after buying an additional 3,400 shares in the last quarter. Finally, Quadrature Capital Ltd increased its holdings in shares of Barrett Business Services by 74.4% in 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 currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Gary Kramer sold 805 shares of Barrett Business Services stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $35.00, for a total transaction of $28,175.00. Following the completion of the sale, the chief executive officer now owns 276,831 shares of the company’s stock, valued at approximately $9,689,085. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 35,133 shares of company stock worth $1,231,357 in the last three months. Corporate insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BBSI shares. Barrington Research increased their price target 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 target price on Barrett Business Services from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, August 1st.

Barrett Business Services Price Performance

Shares of NASDAQ BBSI opened at $35.90 on Friday. Barrett Business Services, Inc. has a 1 year low of $21.79 and a 1 year high of $38.07. The firm has a 50-day simple moving average of $36.44 and a two-hundred day simple moving average of $34.00. The company has a market cap of $939.40 million, a P/E ratio of 19.73, a PEG ratio of 1.24 and a beta of 1.38.

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

Barrett Business Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.89%. This is a boost from Barrett Business Services’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, August 16th. Barrett Business Services’s payout ratio is 17.58%.

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.