Barrett Business Services (NASDAQ:BBSI) CEO Gary Kramer Buys 8,370 Shares of Stock

Barrett Business Services, Inc. (NASDAQ:BBSI) CEO Gary Kramer bought 8,370 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were purchased at an average price of $26.89 per share, for a total transaction of $225,069.30. Following the transaction, the chief executive officer directly owned 328,801 shares of the company’s stock, valued at approximately $8,841,458.89. This represents a 2.61% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Barrett Business Services Stock Up 0.5%

Shares of NASDAQ BBSI opened at $27.65 on Tuesday. The stock has a market cap of $696.86 million, a PE ratio of 13.23, a price-to-earnings-growth ratio of 0.96 and a beta of 1.02. Barrett Business Services, Inc. has a 52-week low of $25.33 and a 52-week high of $49.65. The business has a 50-day moving average price of $33.91 and a 200 day moving average price of $38.03.

Barrett Business Services (NASDAQ:BBSI) last released its quarterly earnings results on Wednesday, February 25th. The business services provider reported $0.64 EPS for the quarter, hitting the consensus estimate of $0.64. Barrett Business Services had a return on equity of 23.67% and a net margin of 4.39%.The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $323.43 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Sell-side analysts anticipate that Barrett Business Services, Inc. will post 2 earnings per share for the current year.

Barrett Business Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, March 13th. Barrett Business Services’s payout ratio is presently 15.31%.

Hedge Funds Weigh In On Barrett Business Services

A number of large investors have recently bought and sold shares of BBSI. State of New Jersey Common Pension Fund D boosted its holdings in shares of Barrett Business Services by 1.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 45,971 shares of the business services provider’s stock valued at $2,037,000 after acquiring an additional 477 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Barrett Business Services by 2.9% during the second quarter. Hsbc Holdings PLC now owns 17,036 shares of the business services provider’s stock worth $709,000 after purchasing an additional 482 shares in the last quarter. Swiss National Bank lifted its position in Barrett Business Services by 1.0% in the third quarter. Swiss National Bank now owns 49,800 shares of the business services provider’s stock valued at $2,207,000 after purchasing an additional 500 shares during the period. Farther Finance Advisors LLC lifted its position in Barrett Business Services by 63.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,456 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 563 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Barrett Business Services by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,219 shares of the business services provider’s stock valued at $626,000 after purchasing an additional 633 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on BBSI shares. Zacks Research cut shares of Barrett Business Services from a “hold” rating to a “strong sell” rating in a research note on Friday, February 27th. Roth Mkm reduced their target price on shares of Barrett Business Services from $54.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Barrett Business Services in a research note on Monday, December 29th. Barrington Research lowered their price target on Barrett Business Services from $46.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Finally, CJS Securities upgraded Barrett Business Services to a “strong-buy” rating in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.50.

Barrett Business Services Company Profile

Barrett Business Services, Inc (NASDAQ: BBSI) is a professional employer organization (PEO) headquartered in Northridge, California. Founded in 1971 by Barrett K. Levesque, the company provides comprehensive human resources outsourcing solutions to small and mid-sized businesses. Through its consultative model, Barrett Business Services helps clients streamline administrative processes, mitigate regulatory risk and focus on core operations.

The company’s core offerings include payroll administration, employee benefits management, workers’ compensation and risk management services.