Barrett Business Services (NASDAQ:BBSI) Hits New 52-Week High - Should You Buy?

Barrett Business Services, Inc. (NASDAQ:BBSI - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $44.97 and last traded at $44.20, with a volume of 5734 shares. The stock had previously closed at $43.94.

Wall Street Analyst Weigh In

BBSI has been the topic of a number of research analyst reports. StockNews.com raised Barrett Business Services from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Barrington Research reaffirmed an "outperform" rating and issued a $45.00 price objective on shares of Barrett Business Services in a research note on Wednesday, December 11th. Finally, Roth Mkm boosted their target price on Barrett Business Services from $43.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th.

Barrett Business Services Stock Performance

The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 1.25 and a beta of 1.42. The business has a fifty day simple moving average of $42.87 and a 200-day simple moving average of $38.35.

Barrett Business Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, November 22nd. Barrett Business Services's dividend payout ratio is currently 16.89%.

Insider Activity at Barrett Business Services

In related news, Director Thomas B. Cusick sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $43.41, for a total transaction of $130,230.00. Following the completion of the sale, the director now owns 27,776 shares of the company's stock, valued at $1,205,756.16. This trade represents a 9.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas J. Carley sold 4,584 shares of Barrett Business Services 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 completion of the sale, the director now owns 91,628 shares of the company's stock, valued at approximately $3,778,738.72. The trade was a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Barrett Business Services

Several institutional investors have recently made changes to their positions in BBSI. Janney Montgomery Scott LLC bought a new stake in shares of Barrett Business Services during the fourth quarter valued at approximately $481,000. SG Americas Securities LLC grew its position in Barrett Business Services by 18.7% in the 4th quarter. SG Americas Securities LLC now owns 14,402 shares of the business services provider's stock valued at $626,000 after purchasing an additional 2,265 shares during the period. JPMorgan Chase & Co. increased its stake in Barrett Business Services by 19.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 546,510 shares of the business services provider's stock valued at $20,500,000 after purchasing an additional 88,350 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Barrett Business Services by 29.7% during the third quarter. Principal Financial Group Inc. now owns 17,300 shares of the business services provider's stock worth $649,000 after buying an additional 3,960 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Barrett Business Services by 1.7% in the third quarter. Franklin Resources Inc. now owns 42,790 shares of the business services provider's stock valued at $1,590,000 after buying an additional 704 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

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.