Barrett Business Services (NASDAQ:BBSI) Upgraded to "Buy" at StockNews.com

StockNews.com upgraded shares of Barrett Business Services (NASDAQ:BBSI - Free Report) from a hold rating to a buy rating in a research report released on Tuesday morning.

Several other research firms have also commented on BBSI. Roth Mkm raised their target price on Barrett Business Services from $43.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Barrington Research boosted their target price on shares of Barrett Business Services from $41.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th.

Barrett Business Services Stock Performance

NASDAQ BBSI traded up $0.32 on Tuesday, reaching $41.75. 44,886 shares of the company's stock traded hands, compared to its average volume of 136,637. The stock has a 50 day moving average price of $37.72 and a 200-day moving average price of $35.09. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 1.39 and a beta of 1.39. Barrett Business Services has a fifty-two week low of $26.60 and a fifty-two week high of $43.29.

Barrett Business Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.77%. Barrett Business Services's dividend payout ratio is currently 16.89%.

Insider Activity at Barrett Business Services

In related news, CEO Gary Kramer sold 34,288 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $35.05, for a total transaction of $1,201,794.40. Following the completion of the sale, the chief executive officer now directly owns 242,543 shares in the company, valued at approximately $8,501,132.15. The trade was a 12.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Barrett Business Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mawer Investment Management Ltd. raised its position in shares of 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 valued at $68,810,000 after buying an additional 1,289,147 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in 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 valued at $28,435,000 after acquiring an additional 640,508 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Barrett Business Services by 299.4% in the 2nd quarter. Renaissance Technologies LLC now owns 798,500 shares of the business services provider's stock worth $26,167,000 after purchasing an additional 598,567 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 worth $26,471,000 after purchasing an additional 32,632 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Barrett Business Services by 155.9% in the second quarter. American Century Companies Inc. now owns 535,896 shares of the business services provider's stock valued at $17,561,000 after purchasing an additional 326,502 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Barrett Business Services Company 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.