Barrett Business Services (NASDAQ:BBSI) Sets New 12-Month High – What’s Next?

Barrett Business Services, Inc. (NASDAQ:BBSI) hit a new 52-week high on Wednesday . The company traded as high as $43.23 and last traded at $43.23, with a volume of 1547 shares changing hands. The stock had previously closed at $42.79.

Wall Street Analyst Weigh In

BBSI has been the topic of several research reports. Roth Mkm lifted their price target on shares of Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. StockNews.com downgraded Barrett Business Services from a “buy” rating to a “hold” rating in a report on Monday. Finally, Barrington Research boosted their price objective 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.

Barrett Business Services Stock Performance

The firm has a market capitalization of $1.09 billion, a PE ratio of 22.11, a P/E/G ratio of 1.43 and a beta of 1.39. The stock’s 50-day simple moving average is $37.45 and its 200-day simple moving average is $34.87.

Barrett Business Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Friday, November 22nd. Barrett Business Services’s dividend payout ratio (DPR) is presently 16.89%.

Insider Activity at Barrett Business Services

In other news, CEO Gary Kramer sold 34,288 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $35.05, for a total transaction of $1,201,794.40. Following the sale, the chief executive officer now owns 242,543 shares in the company, valued at $8,501,132.15. This represents a 12.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Barrett Business Services

Institutional investors have recently modified their holdings of the business. CWM LLC boosted its holdings in Barrett Business Services by 12,014.3% in the second quarter. CWM LLC now owns 848 shares of the business services provider’s stock worth $28,000 after purchasing an additional 841 shares during the last quarter. Amalgamated Bank lifted its holdings in Barrett Business Services by 300.0% in the second quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 702 shares during the period. Truvestments Capital LLC bought a new stake in Barrett Business Services during the third quarter valued at approximately $34,000. Huntington National Bank purchased a new stake in Barrett Business Services in the third quarter worth about $39,000. Finally, USA Financial Formulas bought a new position in shares of Barrett Business Services during the 3rd quarter valued at approximately $60,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

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.