Wellington Management Group LLP Decreases Stake in Barrett Business Services, Inc. (NASDAQ:BBSI)

Wellington Management Group LLP decreased its stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 815,975 shares of the business services provider's stock after selling 10,800 shares during the quarter. Wellington Management Group LLP owned about 3.16% of Barrett Business Services worth $35,446,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Barclays PLC increased its stake in shares of Barrett Business Services by 42.9% in the third quarter. Barclays PLC now owns 61,332 shares of the business services provider's stock worth $2,300,000 after acquiring an additional 18,414 shares during the period. SG Americas Securities LLC boosted its holdings in Barrett Business Services by 18.7% during the fourth quarter. SG Americas Securities LLC now owns 14,402 shares of the business services provider's stock worth $626,000 after buying an additional 2,265 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Barrett Business Services during the fourth quarter worth $481,000. Longboard Asset Management LP purchased a new stake in Barrett Business Services during the fourth quarter worth $217,000. Finally, Rhumbline Advisers boosted its holdings in Barrett Business Services by 19.9% during the fourth quarter. Rhumbline Advisers now owns 46,107 shares of the business services provider's stock worth $2,003,000 after buying an additional 7,653 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Barrett Business Services Trading Up 0.8%

BBSI traded up $0.35 during midday trading on Wednesday, hitting $42.04. 28,012 shares of the company traded hands, compared to its average volume of 140,831. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.21 and a beta of 1.02. Barrett Business Services, Inc. has a 52-week low of $31.77 and a 52-week high of $44.97. The business has a 50 day simple moving average of $40.83 and a two-hundred day simple moving average of $41.74.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.09. The business had revenue of $292.60 million for the quarter, compared to the consensus estimate of $285.91 million. Barrett Business Services had a net margin of 4.55% and a return on equity of 25.28%. The company's revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. Equities research analysts anticipate that Barrett Business Services, Inc. will post 2 earnings per share for the current year.

Barrett Business Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, May 23rd. Barrett Business Services's dividend payout ratio is currently 16.41%.

Analysts Set New Price Targets

BBSI has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Barrett Business Services from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th. Barrington Research reissued an "outperform" rating and set a $45.00 price target on shares of Barrett Business Services in a report on Tuesday, May 6th.

Insider Transactions at Barrett Business Services

In other news, Director Thomas J. Carley sold 12,354 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $42.60, for a total value of $526,280.40. Following the transaction, the director now directly owns 91,628 shares of the company's stock, valued at approximately $3,903,352.80. This trade represents a 11.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.70% 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.