Geode Capital Management LLC Reduces Stock Position in Barrett Business Services, Inc. (NASDAQ:BBSI)

Geode Capital Management LLC cut its position in Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 13.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 610,089 shares of the business services provider's stock after selling 95,509 shares during the period. Geode Capital Management LLC owned approximately 2.35% of Barrett Business Services worth $26,509,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Tieton Capital Management LLC increased its holdings in Barrett Business Services by 23.2% in the 4th quarter. Tieton Capital Management LLC now owns 251,628 shares of the business services provider's stock worth $10,931,000 after buying an additional 47,447 shares during the period. 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. JPMorgan Chase & Co. raised its holdings in shares of Barrett Business Services by 19.3% during the third quarter. JPMorgan Chase & Co. now owns 546,510 shares of the business services provider's stock worth $20,500,000 after purchasing an additional 88,350 shares during the last quarter. Intech Investment Management LLC acquired a new position in Barrett Business Services during the fourth quarter valued at $485,000. Finally, Principal Financial Group Inc. boosted its holdings in Barrett Business Services by 29.7% in the third quarter. Principal Financial Group Inc. now owns 17,300 shares of the business services provider's stock valued at $649,000 after purchasing an additional 3,960 shares during 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 analysts have recently commented on the company. StockNews.com upgraded Barrett Business Services from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Barrington Research reaffirmed an "outperform" rating and set a $45.00 price objective on shares of Barrett Business Services in a research note on Wednesday, March 12th.

Barrett Business Services Stock Up 1.5 %

Shares of NASDAQ:BBSI traded up $0.59 during trading on Wednesday, reaching $40.70. 11,535 shares of the company's stock traded hands, compared to its average volume of 138,162. The firm has a market cap of $1.05 billion, a PE ratio of 21.48, a P/E/G ratio of 1.21 and a beta of 1.09. Barrett Business Services, Inc. has a fifty-two week low of $28.42 and a fifty-two week high of $44.97. The company has a 50-day simple moving average of $40.30 and a 200-day simple moving average of $41.09.

Barrett Business Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, March 14th. Barrett Business Services's dividend payout ratio (DPR) is presently 16.08%.

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.