Barrett Business Services, Inc. $BBSI Shares Purchased by Royce & Associates LP

Key Points

• Royce & Associates LP boosted its stake in Barrett Business Services by 31.6% in the fourth quarter, ending with 870,863 shares valued at about $31.5 million.
• Barrett Business Services reported better-than-expected quarterly earnings, posting EPS of -$0.13 versus estimates of -$0.15, while revenue rose 4.9% year over year to $307.01 million.
• The company declared a quarterly dividend of $0.08 per share, and analysts currently rate the stock a Moderate Buy with an average price target of $41.50.

Royce & Associates LP increased its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 31.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 870,863 shares of the business services provider's stock after acquiring an additional 208,865 shares during the quarter. Royce & Associates LP owned approximately 3.40% of Barrett Business Services worth $31,534,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BBSI. Bessemer Group Inc. raised its stake in Barrett Business Services by 821,045.1% during the third quarter. Bessemer Group Inc. now owns 418,784 shares of the business services provider's stock worth $18,562,000 after acquiring an additional 418,733 shares during the period. Thrivent Financial for Lutherans raised its stake in Barrett Business Services by 20.6% during the third quarter. Thrivent Financial for Lutherans now owns 1,901,425 shares of the business services provider's stock worth $84,271,000 after acquiring an additional 324,715 shares during the period. Trigran Investments Inc. raised its stake in Barrett Business Services by 121.3% during the third quarter. Trigran Investments Inc. now owns 399,686 shares of the business services provider's stock worth $17,714,000 after acquiring an additional 219,049 shares during the period. First Trust Advisors LP acquired a new stake in Barrett Business Services during the second quarter worth about $5,536,000. Finally, Millennium Management LLC acquired a new stake in Barrett Business Services during the first quarter worth about $3,747,000. Institutional investors and hedge funds own 86.76% of the company's stock.

Barrett Business Services Stock Performance

Shares of NASDAQ:BBSI opened at $31.52 on Tuesday. The firm's 50 day moving average is $29.64 and its two-hundred day moving average is $33.05. Barrett Business Services, Inc. has a 52 week low of $25.33 and a 52 week high of $49.65. The firm has a market capitalization of $774.13 million, a P/E ratio of 20.47, a PEG ratio of 1.05 and a beta of 0.97.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The business services provider reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.02. Barrett Business Services had a net margin of 3.24% and a return on equity of 22.89%. The company had revenue of $307.01 million for the quarter, compared to analyst estimates of $306.68 million. During the same quarter last year, the business earned ($0.04) earnings per share. Barrett Business Services's revenue was up 4.9% compared to the same quarter last year. Analysts predict that Barrett Business Services, Inc. will post 1.88 EPS for the current year.

Barrett Business Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be paid a $0.08 dividend. The ex-dividend date is Friday, May 22nd. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. Barrett Business Services's dividend payout ratio (DPR) is presently 20.78%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. 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 upgraded shares of Barrett Business Services from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Weiss Ratings lowered shares of Barrett Business Services from a "hold (c)" rating to a "sell (d+)" rating in a research note on Monday, May 11th. Roth Mkm dropped their price objective on shares of Barrett Business Services from $54.00 to $42.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Finally, Wall Street Zen lowered shares of Barrett Business Services from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $41.50.

Insider Activity at Barrett Business Services

In related news, CEO Gary Kramer acquired 8,370 shares of the firm's stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $26.89 per share, for a total transaction of $225,069.30. Following the completion of the acquisition, the chief executive officer directly owned 328,801 shares of the company's stock, valued at approximately $8,841,458.89. The trade was a 2.61% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP James R. Potts sold 1,803 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $28.68, for a total transaction of $51,710.04. Following the completion of the transaction, the executive vice president owned 33,837 shares of the company's stock, valued at $970,445.16. This trade represents a 5.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.10% of the stock is currently owned by company insiders.

Barrett Business Services Profile

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.

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