Russell Investments Group Ltd. Sells 29,561 Shares of Barrett Business Services, Inc. (NASDAQ:BBSI)

Russell Investments Group Ltd. decreased its position in Barrett Business Services, Inc. (NASDAQ:BBSI – Get Rating) by 61.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,655 shares of the business services provider’s stock after selling 29,561 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.27% of Barrett Business Services worth $1,740,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Continental Investors Services Inc. purchased a new stake in shares of Barrett Business Services in the third quarter worth $7,361,000. Allspring Global Investments Holdings LLC grew its stake in shares of Barrett Business Services by 725.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 46,415 shares of the business services provider’s stock worth $4,330,000 after acquiring an additional 40,791 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Barrett Business Services in the first quarter worth $3,085,000. State Street Corp grew its stake in shares of Barrett Business Services by 20.6% in the first quarter. State Street Corp now owns 194,516 shares of the business services provider’s stock worth $15,118,000 after acquiring an additional 33,234 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Barrett Business Services by 89.1% in the first quarter. Royal Bank of Canada now owns 60,422 shares of the business services provider’s stock worth $4,681,000 after acquiring an additional 28,473 shares during the last quarter. Institutional investors own 86.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BBSI. Barrington Research increased their price objective on Barrett Business Services from $102.00 to $104.00 in a research report on Friday, March 3rd. StockNews.com initiated coverage on Barrett Business Services in a research report on Thursday, May 18th. They issued a “buy” rating on the stock.

Barrett Business Services Stock Up 1.3 %

NASDAQ BBSI opened at $84.38 on Tuesday. The stock’s 50-day moving average price is $85.20 and its 200-day moving average price is $91.84. The company has a market capitalization of $574.29 million, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 0.85 and a beta of 1.35. Barrett Business Services, Inc. has a 52 week low of $65.93 and a 52 week high of $100.85.

Barrett Business Services (NASDAQ:BBSI – Get Rating) last released its quarterly earnings data on Wednesday, March 1st. The business services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.01. Barrett Business Services had a return on equity of 27.42% and a net margin of 4.50%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. Research analysts anticipate that Barrett Business Services, Inc. will post 7.03 EPS for the current year.

Barrett Business Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Friday, May 19th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, May 18th. Barrett Business Services’s payout ratio is 17.94%.

Barrett Business Services Profile

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Barrett Business Services, Inc engages in the provision of business management solutions for small and mid-sized companies. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. It focuses on professional employers, and staffing and recruiting services.