Arizona State Retirement System Purchases New Shares in Barrett Business Services, Inc. (NASDAQ:BBSI)

Arizona State Retirement System purchased a new stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) during the 4th quarter, Holdings Channel reports. The fund purchased 1,882 shares of the business services provider’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Assenagon Asset Management S.A. bought a new position in Barrett Business Services in the 4th quarter valued at $2,399,000. FMR LLC grew its position in Barrett Business Services by 4.3% in the 3rd quarter. FMR LLC now owns 315,370 shares of the business services provider’s stock valued at $28,459,000 after acquiring an additional 12,997 shares during the last quarter. Barclays PLC grew its position in Barrett Business Services by 34.0% in the 3rd quarter. Barclays PLC now owns 6,362 shares of the business services provider’s stock valued at $573,000 after acquiring an additional 1,614 shares during the last quarter. Gladius Capital Management LP grew its position in Barrett Business Services by 82.2% in the 3rd quarter. Gladius Capital Management LP now owns 1,971 shares of the business services provider’s stock valued at $178,000 after acquiring an additional 889 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Barrett Business Services by 1.7% in the 3rd quarter. Wellington Management Group LLP now owns 175,006 shares of the business services provider’s stock valued at $15,793,000 after acquiring an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $141.00 price objective on shares of Barrett Business Services in a research report on Monday, April 1st.

Barrett Business Services Trading Up 0.8 %

BBSI opened at $122.35 on Monday. Barrett Business Services, Inc. has a 12-month low of $76.22 and a 12-month high of $130.00. The business’s fifty day simple moving average is $119.71 and its 200-day simple moving average is $111.45. The company has a market capitalization of $800.17 million, a price-to-earnings ratio of 16.47, a PEG ratio of 1.12 and a beta of 1.35.

Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings results on Wednesday, February 28th. The business services provider reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.29. Barrett Business Services had a return on equity of 27.69% and a net margin of 4.73%. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.02 billion. On average, equities research analysts predict that Barrett Business Services, Inc. will post 7.78 EPS for the current year.

Barrett Business Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Thursday, March 14th. Barrett Business Services’s payout ratio is 16.15%.

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.