Barrett Business Services, Inc. (NASDAQ:BBSI) Position Lessened by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in Barrett Business Services, Inc. (NASDAQ:BBSI) by 12.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 51,224 shares of the business services provider’s stock after selling 7,257 shares during the period. Victory Capital Management Inc.’s holdings in Barrett Business Services were worth $1,921,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BBSI. Summit Global Investments raised its stake 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 valued at $917,000 after acquiring an additional 352 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Barrett Business Services by 29.7% in the 3rd quarter. Principal Financial Group Inc. now owns 17,300 shares of the business services provider’s stock valued at $649,000 after purchasing an additional 3,960 shares during the period. CWC Advisors LLC. acquired a new stake in Barrett Business Services in the 3rd quarter valued at $307,000. Assenagon Asset Management S.A. raised its position in Barrett Business Services by 27.7% during the third quarter. Assenagon Asset Management S.A. now owns 110,331 shares of the business services provider’s stock worth $4,139,000 after acquiring an additional 23,933 shares in the last quarter. Finally, USA Financial Formulas acquired a new stake in Barrett Business Services during the 3rd quarter valued at $60,000. Institutional investors own 86.76% of the company’s stock.

Barrett Business Services Stock Performance

Shares of BBSI opened at $42.76 on Monday. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.41 and a beta of 1.39. Barrett Business Services, Inc. has a 52 week low of $26.60 and a 52 week high of $43.29. The stock has a fifty day moving average of $38.20 and a 200-day moving average of $35.41.

Barrett Business Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, November 22nd. Barrett Business Services’s dividend payout ratio (DPR) is currently 16.89%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BBSI shares. Barrington Research boosted their target price on shares of Barrett Business Services from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Roth Mkm raised their target price on shares of Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded Barrett Business Services from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th.

Insider Activity at Barrett Business Services

In related news, Director Joseph Stephen Clabby acquired 1,635 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average price of $43.01 per share, for a total transaction of $70,321.35. Following the completion of the acquisition, the director now owns 11,327 shares of the company’s stock, valued at approximately $487,174.27. This represents a 16.87 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas J. Carley sold 4,584 shares of the business’s stock in a transaction that occurred 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 represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

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.