Teacher Retirement System of Texas Cuts Stake in Barrett Business Services, Inc. (NASDAQ:BBSI)

Teacher Retirement System of Texas cut its stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 29.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,058 shares of the business services provider's stock after selling 56,989 shares during the quarter. Teacher Retirement System of Texas owned about 0.54% of Barrett Business Services worth $5,722,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prudent Man Investment Management Inc. bought a new position in shares of Barrett Business Services during the fourth quarter valued at $35,000. Private Trust Co. NA purchased a new stake in shares of Barrett Business Services during the first quarter valued at $33,000. Perkins Coie Trust Co boosted its position 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 buying an additional 400 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Barrett Business Services during the fourth quarter valued at $209,000. Finally, Two Sigma Securities LLC purchased a new stake in shares of Barrett Business Services during the fourth quarter valued at $218,000. 86.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on BBSI. Wall Street Zen cut Barrett Business Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. Barrington Research reaffirmed an "outperform" rating and set a $45.00 price objective on shares of Barrett Business Services in a research report on Tuesday, May 6th.

Insider Transactions at Barrett Business Services

In related news, Director Thomas J. Carley sold 12,354 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $42.60, for a total transaction of $526,280.40. Following the sale, the director owned 91,628 shares in the company, valued at approximately $3,903,352.80. This represents a 11.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Gerald Blotz sold 13,327 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.71, for a total value of $569,196.17. Following the sale, the chief operating officer owned 209,096 shares in the company, valued at $8,930,490.16. The trade was a 5.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,061 shares of company stock valued at $1,406,470 in the last ninety days. Corporate insiders own 4.10% of the company's stock.

Barrett Business Services Price Performance

Shares of NASDAQ:BBSI traded down $0.66 during mid-day trading on Monday, reaching $42.51. 165,167 shares of the company traded hands, compared to its average volume of 138,259. The company's 50 day moving average price is $41.66 and its 200-day moving average price is $41.56. The firm has a market cap of $1.09 billion, a PE ratio of 21.80, a PEG ratio of 1.46 and a beta of 0.99. Barrett Business Services, Inc. has a 52 week low of $31.77 and a 52 week high of $44.97.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The business services provider reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.09. Barrett Business Services had a return on equity of 24.55% and a net margin of 4.45%. The company had revenue of $292.60 million during the quarter, compared to the consensus estimate of $285.91 million. During the same period in the previous year, the company posted ($0.01) EPS. The firm's revenue was up 10.1% on a year-over-year basis. On average, research analysts predict that Barrett Business Services, Inc. will post 2 earnings per share for the current fiscal year.

Barrett Business Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.08 per share. The ex-dividend date was Friday, May 23rd. This represents a $0.32 annualized dividend and a dividend yield of 0.75%. Barrett Business Services's dividend payout ratio (DPR) is 16.41%.

Barrett Business Services Company 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.