Teacher Retirement System of Texas reduced its position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 29.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 0.54% of Barrett Business Services worth $5,722,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Prudent Man Investment Management Inc. bought a new stake in shares of Barrett Business Services during the 4th quarter valued at about $35,000. Private Trust Co. NA bought a new position in shares of Barrett Business Services during the 1st quarter valued at approximately $33,000. Perkins Coie Trust Co grew its stake in shares of Barrett Business Services by 10.0% during the 1st 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 period. KLP Kapitalforvaltning AS bought a new position in shares of Barrett Business Services during the 4th quarter valued at approximately $209,000. Finally, Two Sigma Securities LLC bought a new position in shares of Barrett Business Services during the 4th quarter valued at approximately $218,000. 86.76% of the stock is currently owned by institutional investors.
Barrett Business Services Stock Performance
Shares of BBSI traded up $0.08 during mid-day trading on Tuesday, hitting $42.59. 3,678 shares of the stock were exchanged, compared to its average volume of 137,792. The company has a market cap of $1.09 billion, a PE ratio of 21.77, a price-to-earnings-growth 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. The firm has a 50-day moving average of $41.70 and a two-hundred day moving average of $41.55.
Barrett Business Services (NASDAQ:BBSI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The business services provider reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.09. The company had revenue of $292.60 million for the quarter, compared to analyst estimates of $285.91 million. Barrett Business Services had a return on equity of 24.55% and a net margin of 4.45%. Barrett Business Services's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS. On average, sell-side analysts predict that Barrett Business Services, Inc. will post 2 EPS for the current year.
Barrett Business Services Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, May 23rd. Barrett Business Services's dividend payout ratio (DPR) is presently 16.41%.
Analyst Ratings Changes
A number of research analysts recently issued reports on BBSI shares. Wall Street Zen downgraded Barrett Business Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 16th. Barrington Research reissued an "outperform" rating and issued a $45.00 price target on shares of Barrett Business Services in a report on Tuesday, May 6th.
Read Our Latest Stock Analysis on BBSI
Insider Buying and Selling at Barrett Business Services
In other 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 transaction, the director owned 91,628 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony Meeker sold 7,380 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $42.14, for a total value of $310,993.20. Following the sale, the director owned 55,504 shares of the company's stock, valued at $2,338,938.56. This trade represents a 11.74% decrease in their ownership of the stock. 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 quarter. 4.10% of the stock is owned by insiders.
About Barrett Business Services
(
Free Report)
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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