Barrett Business Services, Inc. (NASDAQ:BBSI) Shares Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC grew its position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 150.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,069 shares of the business services provider’s stock after acquiring an additional 4,844 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Barrett Business Services were worth $264,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of BBSI. CWM LLC increased its position in Barrett Business Services by 12,014.3% in the 2nd quarter. CWM LLC now owns 848 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 841 shares during the period. Amalgamated Bank increased its holdings in shares of Barrett Business Services by 300.0% during the second quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 702 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Barrett Business Services by 415.2% in the second quarter. Nisa Investment Advisors LLC now owns 2,906 shares of the business services provider’s stock worth $95,000 after purchasing an additional 2,342 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Barrett Business Services by 300.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the business services provider’s stock worth $107,000 after purchasing an additional 2,460 shares during the period. Finally, Perkins Coie Trust Co bought a new position in Barrett Business Services in the 2nd quarter valued at about $118,000. Institutional investors own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Barrington Research raised their price objective on shares of Barrett Business Services from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Roth Mkm lifted their price target on Barrett Business Services from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, August 1st.

Insiders Place Their Bets

In other news, CEO Gary Kramer sold 34,288 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $35.05, for a total value of $1,201,794.40. Following the completion of the sale, the chief executive officer now owns 242,543 shares in the company, valued at $8,501,132.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 35,133 shares of company stock worth $1,231,357. Corporate insiders own 3.70% of the company’s stock.

Barrett Business Services Stock Up 0.3 %

Shares of NASDAQ BBSI opened at $37.15 on Tuesday. Barrett Business Services, Inc. has a 52-week low of $21.59 and a 52-week high of $37.81. The stock has a market capitalization of $972.10 million, a price-to-earnings ratio of 20.41, a PEG ratio of 1.24 and a beta of 1.38. The stock’s fifty day simple moving average is $36.06 and its 200 day simple moving average is $33.67.

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

Barrett Business Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.08 dividend. This is a positive change from Barrett Business Services’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, August 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.86%. Barrett Business Services’s dividend payout ratio (DPR) is currently 17.58%.

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.