Allspring Global Investments Holdings LLC Decreases Stock Holdings in Barrett Business Services, Inc. (NASDAQ:BBSI)

Allspring Global Investments Holdings LLC cut its holdings in Barrett Business Services, Inc. (NASDAQ:BBSI) by 51.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,849 shares of the business services provider’s stock after selling 29,196 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.41% of Barrett Business Services worth $2,428,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BBSI. Tower Research Capital LLC TRC grew its holdings in shares of Barrett Business Services by 54.1% in the third quarter. Tower Research Capital LLC TRC now owns 467 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 164 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Barrett Business Services by 4,307.1% in the first quarter. PNC Financial Services Group Inc. now owns 617 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 603 shares in the last quarter. Lazard Asset Management LLC lifted its position in Barrett Business Services by 26.9% in the first quarter. Lazard Asset Management LLC now owns 1,029 shares of the business services provider’s stock worth $79,000 after buying an additional 218 shares during the last quarter. Vestcor Inc bought a new stake in Barrett Business Services in the fourth quarter worth $93,000. Finally, Great West Life Assurance Co. Can lifted its position in Barrett Business Services by 180.8% in the first quarter. Great West Life Assurance Co. Can now owns 1,300 shares of the business services provider’s stock worth $115,000 after buying an additional 837 shares during the last quarter. 85.91% of the stock is owned by hedge funds and other institutional investors.

Barrett Business Services Trading Up 2.6 %

NASDAQ:BBSI opened at $97.48 on Monday. Barrett Business Services, Inc. has a twelve month low of $76.22 and a twelve month high of $100.85. The company has a market cap of $656.04 million, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 0.95 and a beta of 1.37. The stock has a fifty day simple moving average of $92.49 and a 200-day simple moving average of $89.50.

Barrett Business Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, November 16th. This represents a $1.20 annualized dividend and a dividend yield of 1.23%. Barrett Business Services’s dividend payout ratio (DPR) is 17.37%.

Analysts Set New Price Targets

A number of analysts recently issued reports on BBSI shares. Barrington Research restated an “outperform” rating and issued a $104.00 price target on shares of Barrett Business Services in a research report on Thursday, August 3rd. StockNews.com upgraded Barrett Business Services from a “buy” rating to a “strong-buy” rating in a research report on Friday.

Insider Transactions at Barrett Business Services

In other news, Director Anthony Meeker sold 1,359 shares of Barrett Business Services stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $95.83, for a total transaction of $130,232.97. Following the completion of the sale, the director now directly owns 15,721 shares in the company, valued at $1,506,543.43. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.20% of the company’s stock.

Barrett Business Services Company 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.