Dynamic Technology Lab Private Ltd Makes New Investment in Barrett Business Services, Inc. $BBSI

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new position in Barrett Business Services, purchasing 7,826 shares valued at approximately $322,000.
• Barrett Business Services reported a quarterly earnings per share (EPS) of $0.70, exceeding analyst expectations, with revenue rising by 10.0% compared to the same quarter last year.
• The company recently declared a quarterly dividend of $0.08 per share, representing a 0.7% dividend yield and a payout ratio of 15.76%.

Dynamic Technology Lab Private Ltd bought a new position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 7,826 shares of the business services provider's stock, valued at approximately $322,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Martingale Asset Management L P lifted its position in shares of Barrett Business Services by 0.6% during the 1st quarter. Martingale Asset Management L P now owns 38,213 shares of the business services provider's stock worth $1,572,000 after purchasing an additional 242 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of Barrett Business Services by 4.5% in the fourth quarter. Two Sigma Advisers LP now owns 6,900 shares of the business services provider's stock valued at $300,000 after acquiring an additional 300 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of Barrett Business Services by 1.4% in the first quarter. SummerHaven Investment Management LLC now owns 23,827 shares of the business services provider's stock worth $980,000 after acquiring an additional 332 shares during the last quarter. Perkins Coie Trust Co increased its position in 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 worth $181,000 after acquiring an additional 400 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in Barrett Business Services by 26.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,309 shares of the business services provider's stock valued at $95,000 after purchasing an additional 482 shares during the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Barrington Research raised their price target on shares of Barrett Business Services from $45.00 to $49.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Wall Street Zen raised Barrett Business Services from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $47.00.

Barrett Business Services Price Performance

BBSI traded down $0.03 during midday trading on Monday, reaching $46.81. 131,977 shares of the company's stock were exchanged, compared to its average volume of 152,902. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.35. The business has a 50-day simple moving average of $46.15 and a two-hundred day simple moving average of $42.80. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01. Barrett Business Services, Inc. has a one year low of $35.81 and a one year high of $49.65.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last released its quarterly earnings data 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 company had revenue of $307.70 million for the quarter, compared to analyst estimates 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 period in the prior year, the company posted $0.62 EPS. As a group, research analysts predict that Barrett Business Services, Inc. will post 2 EPS for the current year.

Barrett Business Services Dividend Announcement

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

Insider Activity

In related news, CEO Gary Kramer sold 80,000 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $48.35, for a total transaction of $3,868,000.00. Following the completion of the sale, the chief executive officer owned 287,040 shares in the company, valued at $13,878,384. This trade represents a 21.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Gerald Blotz sold 13,327 shares of Barrett Business Services stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.71, for a total transaction of $569,196.17. Following the transaction, the chief operating officer directly owned 209,096 shares of the company's stock, valued at $8,930,490.16. This represents a 5.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,037 shares of company stock worth $5,185,368 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

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.