Barrett Business Services, Inc. $BBSI Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in Barrett Business Services by 37.6% during the first quarter, selling 94,254 shares and owning approximately 0.61% of the company now valued at $6.45 million.
• Barrett Business Services reported a quarterly earnings of $0.70 EPS, surpassing analysts' estimates and achieving a revenue of $307.70 million, a 10% increase year-over-year.
• The company recently announced a quarterly dividend of $0.08 per share, with a payout ratio of 15.76% and a yield of 0.7% for shareholders.

Goldman Sachs Group Inc. reduced its position in Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 37.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,702 shares of the business services provider's stock after selling 94,254 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.61% of Barrett Business Services worth $6,448,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Trust Co. NA purchased a new stake in Barrett Business Services during the first quarter worth approximately $33,000. Quantbot Technologies LP acquired a new position in Barrett Business Services during the first quarter worth $75,000. PNC Financial Services Group Inc. grew its holdings in 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 acquired a new stake in Barrett Business Services in the first quarter valued at $163,000. Finally, Perkins Coie Trust Co boosted its stake in shares of Barrett Business Services by 10.0% during the first quarter. Perkins Coie Trust Co now owns 4,400 shares of the business services provider's stock valued at $181,000 after acquiring an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company's stock.

Barrett Business Services Stock Performance

BBSI opened at $46.84 on Monday. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 1.53 and a beta of 1.01. The business's 50-day moving average price is $46.06 and its two-hundred day moving average price is $42.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.25 and a quick ratio of 1.25. Barrett Business Services, Inc. has a 1 year low of $35.81 and a 1 year high of $49.65.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.70 EPS for the quarter, topping 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 business had revenue of $307.70 million during the quarter, compared to analysts' expectations of $299.95 million. During the same quarter last year, the company posted $0.62 earnings per share. Barrett Business Services's quarterly revenue was up 10.0% on a year-over-year basis. Equities analysts expect that Barrett Business Services, Inc. will post 2 EPS for the current fiscal year.

Barrett Business Services Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on BBSI shares. Wall Street Zen upgraded Barrett Business Services from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. Barrington Research increased their price target on Barrett Business Services from $45.00 to $49.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $47.00.

Insider Activity at Barrett Business Services

In other Barrett Business Services news, CEO Gary Kramer sold 80,000 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $48.35, for a total value of $3,868,000.00. Following the completion of the sale, the chief executive officer directly owned 287,040 shares of the company's stock, valued at approximately $13,878,384. This represents a 21.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas B. Cusick sold 3,064 shares of the firm'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 sale, the director 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 109,037 shares of company stock worth $5,185,368. Corporate 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.

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