Assenagon Asset Management S.A. Makes New $2.40 Million Investment in Barrett Business Services, Inc. (NASDAQ:BBSI)

Assenagon Asset Management S.A. acquired a new position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 20,714 shares of the business services provider's stock, valued at approximately $2,399,000. Assenagon Asset Management S.A. owned 0.31% of Barrett Business Services at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BBSI. Tower Research Capital LLC TRC boosted its position in shares of Barrett Business Services by 80.0% during the second quarter. Tower Research Capital LLC TRC now owns 306 shares of the business services provider's stock worth $27,000 after buying an additional 136 shares during the period. Ramirez Asset Management Inc. bought a new stake in Barrett Business Services during the third quarter worth approximately $45,000. Comerica Bank bought a new stake in Barrett Business Services during the third quarter worth approximately $45,000. PNC Financial Services Group Inc. raised its holdings in Barrett Business Services by 4,307.1% during the first quarter. PNC Financial Services Group Inc. now owns 617 shares of the business services provider's stock worth $49,000 after purchasing an additional 603 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in Barrett Business Services by 26.9% during the first quarter. Lazard Asset Management LLC now owns 1,029 shares of the business services provider's stock worth $79,000 after purchasing an additional 218 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reissued an "outperform" rating and set a $141.00 target price on shares of Barrett Business Services in a report on Monday.

Barrett Business Services Trading Down 3.1 %

NASDAQ:BBSI traded down $3.89 during midday trading on Thursday, hitting $121.02. 22,188 shares of the stock were exchanged, compared to its average volume of 30,271. Barrett Business Services, Inc. has a one year low of $76.22 and a one year high of $130.00. The company has a market capitalization of $795.10 million, a price-to-earnings ratio of 16.81, a P/E/G ratio of 1.15 and a beta of 1.35. The business has a 50-day moving average price of $117.66 and a two-hundred day moving average price of $108.76.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The business services provider reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.29. The company had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.02 billion. Barrett Business Services had a return on equity of 27.69% and a net margin of 4.73%. Sell-side analysts forecast that Barrett Business Services, Inc. will post 7.78 EPS for the current fiscal year.

Barrett Business Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.99%. Barrett Business Services's dividend payout ratio is currently 16.15%.

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.