Barrett Business Services, Inc. $BBSI Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Barrett Business Services, Inc. by 12.0%, acquiring an additional 20,169 shares, bringing its total to 187,629 shares valued at approximately $7.72 million.
• Analysts upgraded Barrett Business Services from a "hold" to a "buy" rating, with Barrington Research raising the target price to $49.00 from $45.00.
• Barrett Business Services declared a quarterly dividend of $0.08 per share, with an annualized yield of 0.7%, showcasing a payout ratio of 15.76%.

Russell Investments Group Ltd. boosted its holdings in Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 12.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 187,629 shares of the business services provider's stock after acquiring an additional 20,169 shares during the period. Russell Investments Group Ltd. owned about 0.73% of Barrett Business Services worth $7,721,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BBSI. Private Trust Co. NA bought a new position in Barrett Business Services in the first quarter worth about $33,000. PNC Financial Services Group Inc. lifted its holdings in Barrett Business Services by 26.4% in 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 last quarter. Perkins Coie Trust Co lifted its holdings in Barrett Business Services by 10.0% in 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 last quarter. US Bancorp DE lifted its holdings 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 worth $186,000 after acquiring an additional 4,412 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new position in Barrett Business Services in the fourth quarter worth about $218,000. Institutional investors own 86.76% of the company's stock.

Barrett Business Services Price Performance

Shares of NASDAQ BBSI traded down $0.09 during mid-day trading on Monday, reaching $48.68. 281,565 shares of the company traded hands, compared to its average volume of 163,133. Barrett Business Services, Inc. has a fifty-two week low of $34.43 and a fifty-two week high of $49.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market cap of $1.25 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 1.59 and a beta of 1.02. The stock has a fifty day simple moving average of $44.35 and a 200-day simple moving average of $42.10.

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

Barrett Business Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be 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 is Friday, August 22nd. Barrett Business Services's dividend payout ratio (DPR) is currently 15.76%.

Analysts Set New Price Targets

A number of brokerages have issued reports on BBSI. Barrington Research raised their target price on shares of Barrett Business Services from $45.00 to $49.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Barrett Business Services from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Barrett Business Services presently has a consensus rating of "Buy" and a consensus price target of $47.00.

Insider Activity at Barrett Business Services

In related news, Director Thomas J. Carley sold 12,646 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $47.62, for a total transaction of $602,202.52. Following the transaction, the director owned 94,692 shares in the company, valued at $4,509,233.04. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gerald Blotz sold 13,327 shares of the firm's stock in a transaction that occurred on 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 owned 209,096 shares in the company, valued at $8,930,490.16. This represents a 5.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,417 shares of company stock worth $1,628,361 over the last ninety days. Insiders own 4.10% of the company's stock.

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.