Barrett Business Services, Inc. $BBSI Shares Bought by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Barrett Business Services, Inc. by 191.4%, holding 10,594 shares worth $442,000 at the end of the reporting period.
• Barrett Business Services reported $0.70 earnings per share for the last quarter, exceeding analysts' expectations of $0.65, and showing a 10% increase in revenue compared to the previous year.
• The company declared a $0.08 quarterly dividend, with a payout ratio of 15.76%, representing an annual yield of 0.7%.

Public Employees Retirement System of Ohio raised its stake in Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 191.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,594 shares of the business services provider's stock after purchasing an additional 6,958 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Barrett Business Services were worth $442,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Private Trust Co. NA acquired a new position in Barrett Business Services in the 1st quarter valued at $33,000. Quantbot Technologies LP purchased a new stake in shares of Barrett Business Services in the first quarter valued at about $75,000. PNC Financial Services Group Inc. increased its stake in shares of Barrett Business Services by 26.4% during 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. Virtus Advisers LLC purchased a new position in Barrett Business Services during the first quarter worth about $163,000. Finally, US Bancorp DE lifted its position in Barrett Business Services by 3,939.3% in the first quarter. US Bancorp DE now owns 4,524 shares of the business services provider's stock valued at $186,000 after purchasing an additional 4,412 shares during the period. Hedge funds and other institutional investors own 86.76% of the company's stock.

Insider Activity at Barrett Business Services

In related news, Director Thomas B. Cusick sold 3,064 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $47.64, for a total transaction of $145,968.96. Following the transaction, the director directly owned 27,776 shares of the company's stock, valued at approximately $1,323,248.64. The trade was a 9.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Gerald Blotz sold 11,664 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $46.08, for a total value of $537,477.12. Following the completion of the transaction, the chief operating officer owned 197,432 shares of the company's stock, valued at approximately $9,097,666.56. This represents a 5.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,438 shares of company stock valued at $5,296,983 over the last 90 days. Corporate insiders own 4.10% of the company's stock.

Barrett Business Services Price Performance

BBSI opened at $44.89 on Monday. Barrett Business Services, Inc. has a 1 year low of $35.81 and a 1 year high of $49.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.25 and a current ratio of 1.25. The company's 50 day simple moving average is $46.54 and its 200 day simple moving average is $43.33. The stock has a market capitalization of $1.15 billion, a PE ratio of 22.11, a P/E/G ratio of 1.46 and a beta of 0.96.

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

Barrett Business Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $0.32 annualized dividend and a yield of 0.7%. Barrett Business Services's dividend payout ratio (DPR) is 15.76%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BBSI shares. Wall Street Zen upgraded Barrett Business Services from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. Barrington Research lifted their price target 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. Finally, Weiss Ratings reiterated a "buy (b+)" rating on shares of Barrett Business Services in a research report on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Barrett Business Services currently has an average rating of "Buy" and a consensus target price of $47.00.

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.

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