Barrett Business Services, Inc. (NASDAQ:BBSI) CEO Michael L. Elich sold 2,026 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $95.00, for a total transaction of $192,470.00. Following the completion of the sale, the chief executive officer now owns 126,246 shares in the company, valued at $11,993,370. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
NASDAQ BBSI opened at $91.99 on Friday. The stock has a 50-day moving average of $87.83 and a two-hundred day moving average of $83.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $643.67 million, a P/E ratio of 18.47 and a beta of 0.93. Barrett Business Services, Inc. has a 1-year low of $53.10 and a 1-year high of $95.64.
Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $3.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.94. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.55 billion. Barrett Business Services had a return on equity of 42.59% and a net margin of 5.72%. On average, analysts anticipate that Barrett Business Services, Inc. will post 6.05 EPS for the current fiscal year.
BBSI has been the topic of several research analyst reports. ValuEngine lowered shares of Barrett Business Services from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Barrett Business Services from a “hold” rating to a “strong-buy” rating and set a $109.00 price objective on the stock in a report on Friday. BidaskClub downgraded Barrett Business Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 17th. Finally, Roth Capital lifted their target price on Barrett Business Services from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, August 8th.
A number of institutional investors and hedge funds have recently made changes to their positions in BBSI. Charles Schwab Investment Management Inc. lifted its stake in Barrett Business Services by 14.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 99,000 shares of the business services provider’s stock valued at $8,178,000 after buying an additional 12,515 shares during the last quarter. Bahl & Gaynor Inc. boosted its position in Barrett Business Services by 2.2% in the 2nd quarter. Bahl & Gaynor Inc. now owns 23,200 shares of the business services provider’s stock valued at $1,916,000 after buying an additional 495 shares during the last quarter. Aperio Group LLC bought a new position in Barrett Business Services in the 2nd quarter valued at $156,000. Man Group plc boosted its position in Barrett Business Services by 1.1% in the 2nd quarter. Man Group plc now owns 122,145 shares of the business services provider’s stock valued at $10,090,000 after buying an additional 1,280 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Barrett Business Services by 9.8% in the 2nd quarter. Royal Bank of Canada now owns 22,009 shares of the business services provider’s stock valued at $1,818,000 after buying an additional 1,970 shares during the last quarter. 80.19% of the stock is owned by hedge funds and other institutional investors.
Barrett Business Services Company Profile
Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce.
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