Invesco Ltd. Sells 23,155 Shares of Barrett Business Services, Inc. $BBSI

Key Points

• Invesco Ltd. has reduced its stake in Barrett Business Services by 16.5%, now holding approximately 116,890 shares, worth about $4.81 million.
• Barrett Business Services reported $0.70 earnings per share for the last quarter, exceeding analysts' expectations of $0.65, with a revenue increase of 10% year-over-year.
• The company announced a quarterly dividend of $0.08 per share, representing a 0.7% dividend yield and a dividend payout ratio of 15.76%.

Invesco Ltd. cut its position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 16.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,890 shares of the business services provider's stock after selling 23,155 shares during the quarter. Invesco Ltd. owned 0.46% of Barrett Business Services worth $4,810,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in BBSI. Private Trust Co. NA acquired a new stake in Barrett Business Services during the first quarter valued at approximately $33,000. PNC Financial Services Group Inc. boosted 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 valued at $95,000 after purchasing an additional 482 shares in the last quarter. Perkins Coie Trust Co boosted its holdings 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 valued at $181,000 after purchasing an additional 400 shares in the last quarter. US Bancorp DE boosted its holdings in Barrett Business Services by 3,939.3% during 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 in the last quarter. Finally, Two Sigma Securities LLC acquired a new stake in Barrett Business Services during the fourth quarter valued at approximately $218,000. 86.76% of the stock is owned by institutional investors and hedge funds.

Barrett Business Services Trading Down 0.1%

BBSI stock traded down $0.05 during trading on Tuesday, hitting $48.75. The company had a trading volume of 137,458 shares, compared to its average volume of 162,612. 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 firm has a 50-day moving average price of $45.22 and a 200-day moving average price of $42.36. Barrett Business Services, Inc. has a 12 month low of $34.43 and a 12 month high of $49.63. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 1.59 and a beta of 1.01.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last released its 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 net margin of 4.49% and a return on equity of 24.59%. The firm had revenue of $307.70 million during the quarter, compared to analyst estimates of $299.95 million. During the same quarter in the previous year, the business earned $0.62 EPS. The business's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, analysts predict that Barrett Business Services, Inc. will post 2 earnings per share for the current year.

Barrett Business Services Announces Dividend

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

Insider Transactions at Barrett Business Services

In related news, COO Gerald Blotz sold 13,327 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $42.71, for a total transaction of $569,196.17. Following the sale, the chief operating officer owned 209,096 shares in the company, valued at approximately $8,930,490.16. This represents a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas B. Cusick sold 3,064 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $47.64, for a total value of $145,968.96. Following the sale, the director owned 27,776 shares in the company, valued at $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 90 days, insiders sold 116,417 shares of company stock worth $5,496,361. Company insiders own 4.10% of the company's stock.

Analyst Ratings Changes

BBSI has been the topic of a number of recent research reports. Wall Street Zen downgraded Barrett Business Services from a "buy" rating to a "hold" rating in a report on Saturday. Barrington Research lifted their price objective on Barrett Business Services from $45.00 to $49.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target 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.