Barrett Business Services (NASDAQ:BBSI) Price Target Raised to $45.00 at Barrington Research

Barrett Business Services (NASDAQ:BBSI) had its price objective raised by Barrington Research from $41.00 to $45.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

Separately, Roth Mkm lifted their target price on Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday.

Barrett Business Services Price Performance

Shares of Barrett Business Services stock opened at $41.37 on Thursday. Barrett Business Services has a 1 year low of $25.58 and a 1 year high of $41.48. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.35 and a beta of 1.39. The firm’s 50-day moving average is $36.91 and its two-hundred day moving average is $34.59.

Barrett Business Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, November 22nd. Barrett Business Services’s dividend payout ratio is presently 16.89%.

Insider Activity at Barrett Business Services

In other news, CEO Gary Kramer sold 805 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $35.00, for a total value of $28,175.00. Following the sale, the chief executive officer now owns 276,831 shares in the company, valued at $9,689,085. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Barrett Business Services

Institutional investors have recently made changes to their positions in the company. Pacific Ridge Capital Partners LLC increased its stake in shares of Barrett Business Services by 259.8% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 378,786 shares of the business services provider’s stock valued at $12,413,000 after purchasing an additional 273,516 shares in the last quarter. Ironwood Investment Management LLC grew its holdings in Barrett Business Services by 155.0% in the second quarter. Ironwood Investment Management LLC now owns 87,856 shares of the business services provider’s stock valued at $2,879,000 after purchasing an additional 53,405 shares during the period. EP Wealth Advisors LLC purchased a new stake in shares of Barrett Business Services in the second quarter valued at approximately $758,000. Dimensional Fund Advisors LP raised its stake in shares of Barrett Business Services by 281.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 867,708 shares of the business services provider’s stock worth $28,435,000 after buying an additional 640,508 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of Barrett Business Services by 155.7% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 59,324 shares of the business services provider’s stock valued at $1,944,000 after buying an additional 36,120 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

About Barrett Business Services

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.