State of New Jersey Common Pension Fund D Reduces Holdings in Barrett Business Services, Inc. (NASDAQ:BBSI)

State of New Jersey Common Pension Fund D trimmed its stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 6.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,392 shares of the business services provider’s stock after selling 3,932 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Barrett Business Services were worth $2,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Summit Global Investments grew its holdings in shares of Barrett Business Services by 1.5% in the third quarter. Summit Global Investments now owns 24,456 shares of the business services provider’s stock worth $917,000 after purchasing an additional 352 shares during the last quarter. Perkins Coie Trust Co grew its holdings in Barrett Business Services by 11.1% in the 3rd quarter. Perkins Coie Trust Co now owns 4,000 shares of the business services provider’s stock worth $150,000 after acquiring an additional 400 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Barrett Business Services by 10.3% in the first quarter. BNP Paribas Financial Markets now owns 5,462 shares of the business services provider’s stock valued at $692,000 after acquiring an additional 509 shares during the period. Amalgamated Bank raised its stake 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 acquiring an additional 702 shares during the last quarter. Finally, Lakewood Asset Management LLC boosted its holdings in shares of Barrett Business Services by 8.2% during the third quarter. Lakewood Asset Management LLC now owns 10,562 shares of the business services provider’s stock worth $396,000 after purchasing an additional 798 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Roth Mkm boosted their price target on Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, November 7th. StockNews.com cut Barrett Business Services from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Barrington Research raised their price target on Barrett Business Services from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th.

Barrett Business Services Price Performance

Shares of BBSI opened at $41.52 on Friday. The company has a 50-day simple moving average of $37.59 and a two-hundred day simple moving average of $34.94. The firm has a market capitalization of $1.08 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 1.42 and a beta of 1.39. Barrett Business Services, Inc. has a one year low of $26.60 and a one year high of $43.29.

Barrett Business Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, November 22nd. Barrett Business Services’s payout ratio is presently 16.89%.

Insider Activity at Barrett Business Services

In related 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 value of $1,201,794.40. Following the completion of the transaction, the chief executive officer now directly owns 242,543 shares in the company, valued at $8,501,132.15. This trade represents a 12.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

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.