Geode Capital Management LLC Has $26.47 Million Position in Barrett Business Services, Inc. (NASDAQ:BBSI)

Geode Capital Management LLC raised its stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 705,598 shares of the business services provider's stock after acquiring an additional 32,632 shares during the quarter. Geode Capital Management LLC owned approximately 2.72% of Barrett Business Services worth $26,471,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BBSI. Bank of New York Mellon Corp lifted its stake in Barrett Business Services by 314.5% in the second quarter. Bank of New York Mellon Corp now owns 192,158 shares of the business services provider's stock valued at $6,297,000 after buying an additional 145,799 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Barrett Business Services by 401.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 65,124 shares of the business services provider's stock worth $2,134,000 after purchasing an additional 52,140 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Barrett Business Services by 300.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the business services provider's stock valued at $107,000 after buying an additional 2,460 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of Barrett Business Services by 97.9% in the second quarter. Panagora Asset Management Inc. now owns 13,723 shares of the business services provider's stock worth $450,000 after buying an additional 6,789 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Barrett Business Services by 337.5% in the second quarter. Principal Financial Group Inc. now owns 13,340 shares of the business services provider's stock worth $437,000 after acquiring an additional 10,291 shares in the last quarter. Institutional investors own 86.76% of the company's stock.

Insider Activity at Barrett Business Services

In related news, Director Joseph Stephen Clabby bought 1,635 shares of Barrett Business Services stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average cost of $43.01 per share, for a total transaction of $70,321.35. Following the acquisition, the director now owns 11,327 shares in the company, valued at $487,174.27. This trade represents a 16.87 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas J. Carley sold 4,584 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.24, for a total value of $189,044.16. Following the sale, the director now directly owns 91,628 shares of the company's stock, valued at $3,778,738.72. The trade was a 4.76 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BBSI shares. Roth Mkm upped 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 issued a $45.00 target price on shares of Barrett Business Services in a research report on Wednesday, December 11th. Finally, StockNews.com raised Barrett Business Services from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th.

Barrett Business Services Stock Down 1.3 %

Shares of NASDAQ:BBSI traded down $0.56 during trading on Friday, reaching $43.38. 119,198 shares of the company traded hands, compared to its average volume of 136,552. The firm has a fifty day simple moving average of $41.21 and a 200 day simple moving average of $37.26. Barrett Business Services, Inc. has a 1-year low of $27.06 and a 1-year high of $44.39. The firm has a market cap of $1.13 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 1.46 and a beta of 1.42.

Barrett Business Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a $0.08 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.32 annualized dividend and a dividend yield of 0.74%. Barrett Business Services's payout ratio is 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.