Nuveen Asset Management LLC Has $13.89 Million Stock Position in Barrett Business Services, Inc. (NASDAQ:BBSI)

Nuveen Asset Management LLC reduced its position in Barrett Business Services, Inc. (NASDAQ:BBSI) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 319,735 shares of the business services provider’s stock after selling 6,587 shares during the period. Nuveen Asset Management LLC owned 1.23% of Barrett Business Services worth $13,889,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BBSI. Barclays PLC increased its stake in shares of Barrett Business Services by 42.9% in the 3rd quarter. Barclays PLC now owns 61,332 shares of the business services provider’s stock valued at $2,300,000 after buying an additional 18,414 shares during the period. SG Americas Securities LLC increased its stake in shares of Barrett Business Services by 18.7% in the 4th quarter. SG Americas Securities LLC now owns 14,402 shares of the business services provider’s stock valued at $626,000 after buying an additional 2,265 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Barrett Business Services in the 4th quarter worth $481,000. Longboard Asset Management LP bought a new position in shares of Barrett Business Services in the 4th quarter worth $217,000. Finally, Rhumbline Advisers boosted its position in shares of Barrett Business Services by 19.9% in the 4th quarter. Rhumbline Advisers now owns 46,107 shares of the business services provider’s stock worth $2,003,000 after purchasing an additional 7,653 shares during the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Barrett Business Services Stock Down 0.7%

NASDAQ:BBSI opened at $41.09 on Tuesday. Barrett Business Services, Inc. has a 12-month low of $31.06 and a 12-month high of $44.97. The firm has a market capitalization of $1.06 billion, a P/E ratio of 21.68, a P/E/G ratio of 1.21 and a beta of 1.02. The stock’s fifty day simple moving average is $40.80 and its 200-day simple moving average is $41.77.

Barrett Business Services (NASDAQ:BBSI) last posted its earnings results on Wednesday, May 7th. The business services provider reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.09. The firm had revenue of $292.60 million for the quarter, compared to analyst estimates of $285.91 million. Barrett Business Services had a return on equity of 25.28% and a net margin of 4.55%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) earnings per share. As a group, equities research analysts expect that Barrett Business Services, Inc. will post 2 earnings per share for the current year.

Barrett Business Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $0.32 annualized dividend and a yield of 0.78%. Barrett Business Services’s dividend payout ratio is presently 16.41%.

Analysts Set New Price Targets

BBSI has been the topic of several recent research reports. Wall Street Zen lowered Barrett Business Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 16th. Barrington Research restated an “outperform” rating and issued a $45.00 price target on shares of Barrett Business Services in a research report on Tuesday, May 6th.

Insiders Place Their Bets

In other Barrett Business Services news, Director Thomas J. Carley sold 12,354 shares of Barrett Business Services stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $42.60, for a total transaction of $526,280.40. Following the transaction, the director now directly owns 91,628 shares in the company, valued at approximately $3,903,352.80. The trade was a 11.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.70% of the company’s stock.

Barrett Business Services 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.