Dupont Capital Management Corp purchased a new position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,628 shares of the business services provider’s stock, valued at approximately $411,000. Dupont Capital Management Corp owned about 0.06% of Barrett Business Services at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of BBSI. Prudential Financial Inc. bought a new stake in shares of Barrett Business Services in the 2nd quarter worth approximately $5,163,000. Nuveen Asset Management LLC bought a new stake in shares of Barrett Business Services in the 2nd quarter worth approximately $4,718,000. FMR LLC grew its position in shares of Barrett Business Services by 13.7% in the 1st quarter. FMR LLC now owns 173,432 shares of the business services provider’s stock worth $13,411,000 after buying an additional 20,901 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Barrett Business Services by 44.9% in the 2nd quarter. Wells Fargo & Company MN now owns 63,109 shares of the business services provider’s stock worth $5,212,000 after buying an additional 19,543 shares during the last quarter. Finally, Bowling Portfolio Management LLC bought a new stake in shares of Barrett Business Services in the 2nd quarter worth approximately $1,064,000. Institutional investors and hedge funds own 82.07% of the company’s stock.
Shares of BBSI stock traded up $0.33 during mid-day trading on Friday, hitting $88.36. The company’s stock had a trading volume of 20,246 shares, compared to its average volume of 40,750. The stock has a market cap of $662.04 million, a price-to-earnings ratio of 17.74 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.22 and a current ratio of 1.22. Barrett Business Services, Inc. has a 52-week low of $53.10 and a 52-week high of $95.64. The business has a 50-day moving average price of $88.80 and a 200 day moving average price of $85.05.
Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings data on Tuesday, November 5th. The business services provider reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.94. Barrett Business Services had a return on equity of 39.84% and a net margin of 5.72%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Equities research analysts predict that Barrett Business Services, Inc. will post 6.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.36%. The ex-dividend date is Thursday, November 21st. Barrett Business Services’s dividend payout ratio is presently 24.10%.
A number of equities research analysts have recently weighed in on the company. Roth Capital lifted their price objective on Barrett Business Services from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. ValuEngine cut Barrett Business Services from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. BidaskClub cut Barrett Business Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Zacks Investment Research upgraded Barrett Business Services from a “hold” rating to a “strong-buy” rating and set a $109.00 price target for the company in a research note on Friday, November 8th.
In other news, Director Thomas J. Carley sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $88.32, for a total value of $176,640.00. Following the completion of the transaction, the director now owns 9,558 shares of the company’s stock, valued at $844,162.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael L. Elich sold 2,026 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $95.00, for a total value of $192,470.00. Following the completion of the transaction, the chief executive officer now directly owns 126,246 shares of the company’s stock, valued at approximately $11,993,370. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.
Barrett Business Services Profile
Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce.
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