Barrett Business Services (NASDAQ:BBSI) Reaches New 12-Month High at $130.21

Barrett Business Services, Inc. (NASDAQ:BBSI - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $130.21 and last traded at $130.13, with a volume of 17322 shares. The stock had previously closed at $128.74.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. StockNews.com downgraded Barrett Business Services from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. Barrington Research reaffirmed an "outperform" rating and issued a $141.00 target price on shares of Barrett Business Services in a research note on Tuesday.

Barrett Business Services Stock Performance

The business has a 50-day moving average of $123.80 and a 200-day moving average of $117.36. The stock has a market capitalization of $865.50 million, a price-to-earnings ratio of 18.15, a P/E/G ratio of 1.13 and a beta of 1.37.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.31) by $0.29. The firm had revenue of $265.78 million during the quarter, compared to the consensus estimate of $1.88 billion. Barrett Business Services had a return on equity of 26.58% and a net margin of 4.60%. During the same period last year, the company earned $0.12 EPS. Equities analysts predict that Barrett Business Services, Inc. will post 7.95 earnings per share for the current fiscal year.

Barrett Business Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Thursday, May 16th. Barrett Business Services's payout ratio is 16.46%.

Institutional Trading of Barrett Business Services

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AJOVista LLC purchased a new position in Barrett Business Services during the 4th quarter valued at about $27,000. Ramirez Asset Management Inc. purchased a new position in Barrett Business Services during the 3rd quarter valued at about $45,000. CWM LLC boosted its holdings in Barrett Business Services by 120,000.0% during the 4th quarter. CWM LLC now owns 1,201 shares of the business services provider's stock valued at $139,000 after acquiring an additional 1,200 shares during the period. Gladius Capital Management LP boosted its holdings in Barrett Business Services by 82.2% during the 3rd quarter. Gladius Capital Management LP now owns 1,971 shares of the business services provider's stock valued at $178,000 after acquiring an additional 889 shares during the period. Finally, Arizona State Retirement System purchased a new position in Barrett Business Services during the 4th quarter valued at about $218,000. 86.76% of the stock is owned by institutional investors and hedge funds.

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.