Barrett Business Services (NASDAQ:BBSI) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Barrett Business Services (NASDAQ:BBSI) from a buy rating to a hold rating in a report released on Thursday morning.

Several other research firms have also weighed in on BBSI. Roth Mkm lifted their price target on Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barrington Research restated an “outperform” rating and set a $45.00 price target on shares of Barrett Business Services in a research report on Wednesday, December 11th.

Barrett Business Services Stock Down 0.1 %

NASDAQ BBSI opened at $40.25 on Thursday. Barrett Business Services has a twelve month low of $28.42 and a twelve month high of $44.97. The firm has a market capitalization of $1.04 billion, a PE ratio of 21.24, a P/E/G ratio of 1.21 and a beta of 1.41. The stock’s 50 day moving average is $42.58 and its 200 day moving average is $39.99.

Barrett Business Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Friday, March 14th. Barrett Business Services’s payout ratio is 16.93%.

Insider Buying and Selling at Barrett Business Services

In other Barrett Business Services news, Director Thomas B. Cusick sold 3,000 shares of Barrett Business Services stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $43.41, for a total transaction of $130,230.00. Following the completion of the transaction, the director now owns 27,776 shares in the company, valued at approximately $1,205,756.16. The trade was a 9.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BBSI. Mawer Investment Management Ltd. raised its stake in shares of Barrett Business Services by 236.4% in the third quarter. Mawer Investment Management Ltd. now owns 1,834,452 shares of the business services provider’s stock worth $68,810,000 after purchasing an additional 1,289,147 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Barrett Business Services by 272.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,631,644 shares of the business services provider’s stock worth $70,879,000 after purchasing an additional 1,193,839 shares during the last quarter. 4D Advisors LLC purchased a new position in shares of Barrett Business Services in the fourth quarter worth $5,430,000. Norges Bank purchased a new position in shares of Barrett Business Services in the fourth quarter worth $3,849,000. Finally, JPMorgan Chase & Co. raised its stake in shares of 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 worth $20,500,000 after purchasing an additional 88,350 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

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.