Barrett Business Services (NASDAQ:BBSI) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Barrett Business Services, Inc. (NASDAQ:BBSI) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $33.00 and traded as high as $39.90. Barrett Business Services shares last traded at $39.79, with a volume of 142,792 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings raised shares of Barrett Business Services from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. Barrington Research reiterated an “outperform” rating and set a $41.00 price objective on shares of Barrett Business Services in a research note on Monday, April 27th. Zacks Research raised Barrett Business Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Wall Street Zen upgraded Barrett Business Services from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.50.

Barrett Business Services Price Performance

The stock has a market capitalization of $977.24 million, a PE ratio of 25.84, a P/E/G ratio of 1.32 and a beta of 0.95. The stock’s fifty day moving average is $34.89 and its 200-day moving average is $33.00.

Barrett Business Services (NASDAQ:BBSI) last released its quarterly earnings data on Wednesday, May 6th. The business services provider reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The company had revenue of $307.00 million during the quarter, compared to analysts’ expectations of $306.68 million. Barrett Business Services had a net margin of 3.24% and a return on equity of 22.89%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) earnings per share. On average, analysts forecast that Barrett Business Services, Inc. will post 1.88 EPS for the current year.

Barrett Business Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, May 22nd. Barrett Business Services’s payout ratio is currently 20.78%.

Insider Transactions at Barrett Business Services

In other Barrett Business Services news, Director Anthony Meeker sold 12,000 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $37.85, for a total transaction of $454,200.00. Following the transaction, the director owned 44,945 shares in the company, valued at approximately $1,701,168.25. This represents a 21.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James R. Potts sold 3,490 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $38.00, for a total value of $132,620.00. Following the transaction, the executive vice president owned 32,035 shares in the company, valued at $1,217,330. This represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,779 shares of company stock valued at $786,233 in the last ninety days. 4.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss National Bank lifted its position in shares of Barrett Business Services by 1.0% in the third quarter. Swiss National Bank now owns 49,800 shares of the business services provider’s stock valued at $2,207,000 after acquiring an additional 500 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Barrett Business Services by 63.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,456 shares of the business services provider’s stock worth $53,000 after acquiring an additional 563 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Barrett Business Services by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,219 shares of the business services provider’s stock worth $626,000 after purchasing an additional 633 shares in the last quarter. Legal & General Group Plc increased its position in shares of Barrett Business Services by 1.9% during the third quarter. Legal & General Group Plc now owns 37,091 shares of the business services provider’s stock worth $1,644,000 after purchasing an additional 708 shares in the last quarter. Finally, Willner & Heller LLC raised its stake in Barrett Business Services by 2.4% in the 4th quarter. Willner & Heller LLC now owns 34,883 shares of the business services provider’s stock valued at $1,263,000 after purchasing an additional 830 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

About Barrett Business Services

Barrett Business Services, Inc (NASDAQ: BBSI) is a professional employer organization (PEO) headquartered in Northridge, California. Founded in 1971 by Barrett K. Levesque, the company provides comprehensive human resources outsourcing solutions to small and mid-sized businesses. Through its consultative model, Barrett Business Services helps clients streamline administrative processes, mitigate regulatory risk and focus on core operations.

The company’s core offerings include payroll administration, employee benefits management, workers’ compensation and risk management services.