Charles Schwab Investment Management Inc. Sells 33,666 Shares of Barrett Business Services, Inc. (NASDAQ:BBSI)

Charles Schwab Investment Management Inc. cut its position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 10.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 281,572 shares of the business services provider's stock after selling 33,666 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.09% of Barrett Business Services worth $10,562,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mawer Investment Management Ltd. lifted its holdings in shares of Barrett Business Services by 236.4% during 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 purchasing an additional 1,289,147 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Barrett Business Services by 281.9% during the second quarter. Dimensional Fund Advisors LP now owns 867,708 shares of the business services provider's stock valued at $28,435,000 after buying an additional 640,508 shares during the last quarter. Renaissance Technologies LLC raised its stake in Barrett Business Services by 299.4% during the second quarter. Renaissance Technologies LLC now owns 798,500 shares of the business services provider's stock valued at $26,167,000 after buying an additional 598,567 shares during the last quarter. American Century Companies Inc. boosted its holdings in 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 worth $17,561,000 after acquiring an additional 326,502 shares in the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of Barrett Business Services in the third quarter worth $16,422,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Barrett Business Services news, Director Thomas J. Carley sold 4,584 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.24, for a total transaction of $189,044.16. Following the completion of the sale, the director now directly owns 91,628 shares in the company, valued at approximately $3,778,738.72. The trade was a 4.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Stephen Clabby purchased 1,635 shares of the company's stock in a transaction dated Tuesday, November 12th. The stock was purchased at an average price of $43.01 per share, for a total transaction of $70,321.35. Following the completion of the purchase, the director now owns 11,327 shares in the company, valued at approximately $487,174.27. The trade was a 16.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BBSI has been the subject of several recent analyst reports. Barrington Research lifted their price target on Barrett Business Services from $41.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Roth Mkm lifted their target price on shares of Barrett Business Services from $43.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded shares of Barrett Business Services from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th.

Barrett Business Services Price Performance

Shares of Barrett Business Services stock traded up $0.78 during trading on Tuesday, hitting $43.45. 50,283 shares of the company's stock traded hands, compared to its average volume of 137,009. Barrett Business Services, Inc. has a 1 year low of $27.06 and a 1 year high of $44.39. The business has a 50-day simple moving average of $39.61 and a 200-day simple moving average of $36.33. The stock has a market capitalization of $1.13 billion, a P/E ratio of 22.52, a PEG ratio of 1.46 and a beta of 1.42.

Barrett Business Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.74%. Barrett Business Services's dividend payout ratio is presently 16.89%.

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.