Pacific Ridge Capital Partners LLC Reduces Stake in Barrett Business Services, Inc. (NASDAQ:BBSI)

Pacific Ridge Capital Partners LLC decreased its holdings in Barrett Business Services, Inc. (NASDAQ:BBSI) by 11.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 282,443 shares of the business services provider’s stock after selling 37,134 shares during the period. Barrett Business Services comprises approximately 2.8% of Pacific Ridge Capital Partners LLC’s investment portfolio, making the stock its biggest holding. Pacific Ridge Capital Partners LLC owned about 1.09% of Barrett Business Services worth $12,269,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BBSI. Barclays PLC increased its holdings in shares of Barrett Business Services by 42.9% in 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 period. JPMorgan Chase & Co. grew its stake in Barrett Business Services by 19.3% in the third quarter. JPMorgan Chase & Co. now owns 546,510 shares of the business services provider’s stock valued at $20,500,000 after purchasing an additional 88,350 shares during the last quarter. Tieton Capital Management LLC grew its stake in Barrett Business Services by 23.2% in the fourth quarter. Tieton Capital Management LLC now owns 251,628 shares of the business services provider’s stock valued at $10,931,000 after purchasing an additional 47,447 shares during the last quarter. Geode Capital Management LLC raised its holdings in Barrett Business Services by 4.8% in the third quarter. Geode Capital Management LLC now owns 705,598 shares of the business services provider’s stock worth $26,471,000 after purchasing an additional 32,632 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Barrett Business Services by 29.7% during the third quarter. Principal Financial Group Inc. now owns 17,300 shares of the business services provider’s stock valued at $649,000 after buying an additional 3,960 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analysts Set New Price Targets

BBSI has been the topic of a number of analyst reports. StockNews.com raised shares of Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Barrington Research reaffirmed an “outperform” rating and issued a $45.00 price target on shares of Barrett Business Services in a report on Wednesday, March 12th.

Barrett Business Services Stock Performance

Shares of BBSI stock opened at $41.62 on Thursday. Barrett Business Services, Inc. has a fifty-two week low of $28.42 and a fifty-two week high of $44.97. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 1.21 and a beta of 1.31. The stock’s 50-day simple moving average is $41.66 and its 200-day simple moving average is $40.61.

Barrett Business Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Friday, March 14th. Barrett Business Services’s dividend payout ratio is presently 16.08%.

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.