Barrett Business Services, Inc. (NASDAQ:BBSI) Shares Purchased by Ironwood Investment Management LLC

Ironwood Investment Management LLC increased its stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 155.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,856 shares of the business services provider’s stock after buying an additional 53,405 shares during the period. Barrett Business Services accounts for approximately 1.5% of Ironwood Investment Management LLC’s holdings, making the stock its 10th biggest holding. Ironwood Investment Management LLC’s holdings in Barrett Business Services were worth $2,879,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of Barrett Business Services by 28.4% in the 4th quarter. Principal Financial Group Inc. now owns 3,961 shares of the business services provider’s stock worth $459,000 after purchasing an additional 875 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Barrett Business Services during the 4th quarter worth approximately $563,000. Trexquant Investment LP grew its holdings in shares of Barrett Business Services by 53.4% in the 4th quarter. Trexquant Investment LP now owns 3,616 shares of the business services provider’s stock valued at $419,000 after buying an additional 1,259 shares during the period. Wellington Management Group LLP grew its stake in Barrett Business Services by 10.8% in the fourth quarter. Wellington Management Group LLP now owns 193,903 shares of the business services provider’s stock valued at $22,454,000 after acquiring an additional 18,897 shares during the period. Finally, Willner & Heller LLC acquired a new position in shares of Barrett Business Services in the 4th quarter valued at approximately $1,121,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Barrett Business Services

In other Barrett Business Services news, CEO Gary Kramer sold 34,288 shares of the stock in a transaction dated 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 directly owns 242,543 shares in the company, valued at $8,501,132.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 35,133 shares of company stock valued at $1,231,357 over the last quarter. 3.70% of the stock is owned by corporate insiders.

Barrett Business Services Price Performance

BBSI stock opened at $36.55 on Monday. The stock has a market cap of $956.40 million, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 1.23 and a beta of 1.38. The company has a fifty day moving average price of $35.78 and a two-hundred day moving average price of $33.19. Barrett Business Services, Inc. has a one year low of $21.59 and a one year high of $37.81.

Barrett Business Services (NASDAQ:BBSI) last announced its earnings results on Wednesday, July 31st. The business services provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $279.60 million during the quarter, compared to analysts’ expectations of $273.13 million. Barrett Business Services had a net margin of 4.50% and a return on equity of 25.69%. Barrett Business Services’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 earnings per share. Research analysts anticipate that Barrett Business Services, Inc. will post 1.99 EPS for the current fiscal year.

Barrett Business Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.88%. This is a boost from Barrett Business Services’s previous quarterly dividend of $0.08. Barrett Business Services’s dividend payout ratio (DPR) is presently 17.58%.

Analyst Ratings Changes

BBSI has been the topic of a number of research reports. Sidoti lowered Barrett Business Services from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a report on Wednesday, June 5th. Barrington Research raised their price target on shares of Barrett Business Services from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Roth Mkm boosted their price objective on shares of Barrett Business Services from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st.

Barrett Business Services 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.