State of New Jersey Common Pension Fund D Sells 3,932 Shares of Barrett Business Services, Inc. (NASDAQ:BBSI)

State of New Jersey Common Pension Fund D cut its stake in Barrett Business Services, Inc. (NASDAQ:BBSI) by 6.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,392 shares of the business services provider’s stock after selling 3,932 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.21% of Barrett Business Services worth $2,078,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Barrett Business Services by 281.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 867,708 shares of the business services provider’s stock valued at $28,435,000 after buying an additional 640,508 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Barrett Business Services by 299.4% in the second quarter. Renaissance Technologies LLC now owns 798,500 shares of the business services provider’s stock valued at $26,167,000 after purchasing an additional 598,567 shares during the last quarter. Mawer Investment Management Ltd. bought a new position in shares of Barrett Business Services during the second quarter valued at about $17,870,000. American Century Companies Inc. boosted its holdings in Barrett Business Services by 155.9% during the second quarter. American Century Companies Inc. now owns 535,896 shares of the business services provider’s stock worth $17,561,000 after purchasing an additional 326,502 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC grew its position in Barrett Business Services by 259.8% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 378,786 shares of the business services provider’s stock worth $12,413,000 after purchasing an additional 273,516 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Insider Activity

In other news, CEO Gary Kramer sold 805 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $35.00, for a total value of $28,175.00. Following the sale, the chief executive officer now owns 276,831 shares of the company’s stock, valued at $9,689,085. The trade was a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on BBSI. Barrington Research lifted their target price on shares of Barrett Business Services from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Roth Mkm boosted their price objective on Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, StockNews.com lowered Barrett Business Services from a “buy” rating to a “hold” rating in a research report on Monday, November 11th.

Barrett Business Services Trading Down 0.9 %

NASDAQ:BBSI opened at $41.52 on Friday. Barrett Business Services, Inc. has a 12 month low of $26.60 and a 12 month high of $43.29. The firm’s 50 day moving average is $37.59 and its 200 day moving average is $34.94. The stock has a market capitalization of $1.08 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 1.42 and a beta of 1.39.

Barrett Business Services Announces Dividend

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

Barrett Business Services Company 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.