Barrett Business Services, Inc. (NASDAQ:BBSI) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 19.3% in the third quarter, Holdings Channel.com reports. The firm owned 546,510 shares of the business services provider’s stock after acquiring an additional 88,350 shares during the period. JPMorgan Chase & Co.’s holdings in Barrett Business Services were worth $20,500,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BBSI. Mawer Investment Management Ltd. grew its stake in shares of Barrett Business Services by 236.4% during the third quarter. Mawer Investment Management Ltd. now owns 1,834,452 shares of the business services provider’s stock valued at $68,810,000 after acquiring an additional 1,289,147 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Barrett Business Services by 281.9% in the second quarter. Dimensional Fund Advisors LP now owns 867,708 shares of the business services provider’s stock valued at $28,435,000 after purchasing an additional 640,508 shares during the last quarter. Renaissance Technologies LLC grew its stake in Barrett Business Services by 299.4% during the 2nd 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 in the last quarter. Geode Capital Management LLC grew its stake in Barrett Business Services by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 705,598 shares of the business services provider’s stock valued at $26,471,000 after purchasing an additional 32,632 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Barrett Business Services by 155.9% during the 2nd 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. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Insider Activity

In other Barrett Business Services news, Director Thomas B. Cusick sold 3,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $43.41, for a total value of $130,230.00. Following the sale, the director now directly owns 27,776 shares of the company’s stock, valued at $1,205,756.16. This trade represents a 9.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas J. Carley sold 4,584 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.24, for a total transaction of $189,044.16. Following the transaction, the director now directly owns 91,628 shares of the company’s stock, valued at approximately $3,778,738.72. This trade represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

BBSI has been the subject of a number of recent analyst reports. StockNews.com raised shares of Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Barrington Research reissued an “outperform” rating and set a $45.00 price objective on shares of Barrett Business Services in a report on Wednesday, December 11th. Finally, Roth Mkm boosted their target price on shares of Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Barrett Business Services Trading Up 1.3 %

Shares of NASDAQ BBSI opened at $41.88 on Thursday. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 1.46 and a beta of 1.42. Barrett Business Services, Inc. has a twelve month low of $27.06 and a twelve month high of $44.39. The business has a 50 day simple moving average of $42.20 and a 200-day simple moving average of $37.85.

Barrett Business Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were given a $0.08 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.76%. Barrett Business Services’s payout ratio is currently 16.93%.

About Barrett Business Services

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.