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

Allspring Global Investments Holdings LLC reduced its position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 8.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,039 shares of the business services provider’s stock after selling 953 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Barrett Business Services were worth $1,163,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Equitable Trust Co. increased its stake in Barrett Business Services by 10.1% during the 4th quarter. Equitable Trust Co. now owns 10,010 shares of the business services provider’s stock worth $1,159,000 after buying an additional 920 shares in the last quarter. Arizona State Retirement System purchased a new stake in Barrett Business Services during the 4th quarter worth approximately $218,000. L. Roy Papp & Associates LLP purchased a new stake in Barrett Business Services during the 4th quarter worth approximately $245,000. Assenagon Asset Management S.A. purchased a new stake in Barrett Business Services during the 4th quarter worth approximately $2,399,000. Finally, Legato Capital Management LLC purchased a new stake in Barrett Business Services during the 4th quarter worth approximately $450,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an “outperform” rating and set a $141.00 price objective on shares of Barrett Business Services in a research note on Monday.

Barrett Business Services Price Performance

BBSI stock opened at $123.47 on Wednesday. The business has a 50 day simple moving average of $119.88 and a 200-day simple moving average of $111.66. The firm has a market capitalization of $807.00 million, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.12 and a beta of 1.35. Barrett Business Services, Inc. has a 1 year low of $76.22 and a 1 year high of $130.00.

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, beating analysts’ consensus estimates of $1.87 by $0.29. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.02 billion. Barrett Business Services had a return on equity of 27.69% and a net margin of 4.73%. On average, equities research analysts expect that Barrett Business Services, Inc. will post 7.78 EPS for the current year.

Barrett Business Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.97%. Barrett Business Services’s dividend payout ratio (DPR) is presently 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.