Charles Schwab Investment Management Inc. Lowers Position in Barrett Business Services, Inc. $BBSI

Charles Schwab Investment Management Inc. trimmed its position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 5.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 235,464 shares of the business services provider’s stock after selling 14,078 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.92% of Barrett Business Services worth $9,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in Barrett Business Services by 26.4% in the first quarter. PNC Financial Services Group Inc. now owns 2,309 shares of the business services provider’s stock worth $95,000 after acquiring an additional 482 shares during the period. US Bancorp DE grew its position in shares of Barrett Business Services by 3,939.3% during the 1st quarter. US Bancorp DE now owns 4,524 shares of the business services provider’s stock valued at $186,000 after acquiring an additional 4,412 shares during the period. Brio Consultants LLC purchased a new stake in shares of Barrett Business Services during the 1st quarter worth approximately $284,000. Mackenzie Financial Corp raised its holdings in shares of Barrett Business Services by 4.1% in the 1st quarter. Mackenzie Financial Corp now owns 21,874 shares of the business services provider’s stock worth $900,000 after purchasing an additional 855 shares during the period. Finally, GW&K Investment Management LLC lifted its stake in Barrett Business Services by 2.1% in the first quarter. GW&K Investment Management LLC now owns 528,243 shares of the business services provider’s stock valued at $21,737,000 after purchasing an additional 10,627 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Barrett Business Services Price Performance

Shares of NASDAQ:BBSI opened at $48.68 on Tuesday. The company has a 50 day moving average of $44.35 and a 200 day moving average of $42.10. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.35. The stock has a market cap of $1.25 billion, a P/E ratio of 23.98, a P/E/G ratio of 1.59 and a beta of 1.02. Barrett Business Services, Inc. has a 12 month low of $34.43 and a 12 month high of $49.18.

Barrett Business Services (NASDAQ:BBSI) last released its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $307.70 million for the quarter, compared to analysts’ expectations of $299.95 million. Barrett Business Services had a return on equity of 24.59% and a net margin of 4.49%.The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 EPS. As a group, sell-side analysts forecast that Barrett Business Services, Inc. will post 2 EPS for the current fiscal year.

Barrett Business Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, August 22nd. Barrett Business Services’s dividend payout ratio (DPR) is presently 15.76%.

Analyst Upgrades and Downgrades

BBSI has been the topic of several research reports. Barrington Research boosted their target price on Barrett Business Services from $45.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Wall Street Zen upgraded Barrett Business Services from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $47.00.

Insider Buying and Selling at Barrett Business Services

In other news, Director Thomas B. Cusick sold 3,064 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $47.64, for a total transaction of $145,968.96. Following the completion of the sale, the director directly owned 27,776 shares in the company, valued at approximately $1,323,248.64. This represents a 9.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anthony Meeker sold 7,380 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $42.14, for a total value of $310,993.20. Following the completion of the sale, the director owned 55,504 shares of the company’s stock, valued at approximately $2,338,938.56. This trade represents a 11.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,417 shares of company stock valued at $1,628,361. Company insiders own 4.10% of the company’s stock.

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.