JPMorgan Chase & Co. Boosts Holdings in Barrett Business Services, Inc. (NASDAQ:BBSI)

JPMorgan Chase & Co. boosted its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 19.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 546,510 shares of the business services provider's stock after buying an additional 88,350 shares during the period. JPMorgan Chase & Co. owned approximately 2.11% of Barrett Business Services worth $20,500,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mawer Investment Management Ltd. grew its position in Barrett Business Services by 236.4% in the third quarter. Mawer Investment Management Ltd. now owns 1,834,452 shares of the business services provider's stock worth $68,810,000 after acquiring an additional 1,289,147 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Barrett Business Services by 281.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 867,708 shares of the business services provider's stock worth $28,435,000 after purchasing an additional 640,508 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Barrett Business Services by 299.4% during the 2nd quarter. Renaissance Technologies LLC now owns 798,500 shares of the business services provider's stock valued at $26,167,000 after purchasing an additional 598,567 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Barrett Business Services by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 705,598 shares of the business services provider's stock valued at $26,471,000 after purchasing an additional 32,632 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Barrett Business Services by 155.9% during the 2nd quarter. American Century Companies Inc. now owns 535,896 shares of the business services provider's stock valued at $17,561,000 after buying an additional 326,502 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Roth Mkm increased their price target on shares of Barrett Business Services from $43.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Barrington Research reaffirmed an "outperform" rating and set a $45.00 target price on shares of Barrett Business Services in a report on Wednesday, December 11th. Finally, StockNews.com upgraded shares of Barrett Business Services from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th.

Insider Activity at Barrett Business Services

In other Barrett Business Services news, Director Thomas B. Cusick sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $43.41, for a total transaction of $130,230.00. Following the completion of the transaction, the director now owns 27,776 shares of the company's stock, valued at approximately $1,205,756.16. This trade represents a 9.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Stephen Clabby bought 1,635 shares of the stock in a transaction dated Tuesday, November 12th. The shares were acquired at an average price of $43.01 per share, with a total value of $70,321.35. Following the completion of the acquisition, the director now directly owns 11,327 shares of the company's stock, valued at approximately $487,174.27. The trade was a 16.87 % increase in their position. The disclosure for this purchase can be found here. 3.70% of the stock is owned by corporate insiders.

Barrett Business Services Stock Up 1.3 %

Shares of NASDAQ:BBSI traded up $0.52 during midday trading on Thursday, hitting $41.88. 67,676 shares of the stock traded hands, compared to its average volume of 82,355. Barrett Business Services, Inc. has a one year low of $27.06 and a one year high of $44.39. The business's 50 day moving average is $42.30 and its two-hundred day moving average is $37.88. The stock has a market capitalization of $1.09 billion, a PE ratio of 22.10, a P/E/G ratio of 1.46 and a beta of 1.42.

Barrett Business Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Friday, November 22nd. Barrett Business Services's payout ratio is currently 16.93%.

About Barrett Business Services

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.