23,141 Shares in Barrett Business Services, Inc. (NASDAQ:BBSI) Acquired by EP Wealth Advisors LLC

EP Wealth Advisors LLC purchased a new position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,141 shares of the business services provider's stock, valued at approximately $758,000. EP Wealth Advisors LLC owned about 0.09% of Barrett Business Services as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BBSI. CWM LLC boosted its stake in Barrett Business Services by 12,014.3% during the 2nd quarter. CWM LLC now owns 848 shares of the business services provider's stock worth $28,000 after purchasing an additional 841 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Barrett Business Services by 300.0% in the second quarter. Amalgamated Bank now owns 936 shares of the business services provider's stock worth $31,000 after buying an additional 702 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Barrett Business Services by 415.2% in the second quarter. Nisa Investment Advisors LLC now owns 2,906 shares of the business services provider's stock worth $95,000 after buying an additional 2,342 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Barrett Business Services by 300.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the business services provider's stock worth $107,000 after acquiring an additional 2,460 shares during the last quarter. Finally, Perkins Coie Trust Co purchased a new stake in Barrett Business Services during the 2nd quarter valued at about $118,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Barrett Business Services

In other Barrett Business Services 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 value of $1,201,794.40. Following the sale, the chief executive officer now owns 242,543 shares of the company's stock, valued at $8,501,132.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 35,133 shares of company stock worth $1,231,357 over the last three months. Insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BBSI shares. Barrington Research boosted their target price on Barrett Business Services from $35.00 to $41.00 and gave the stock an "outperform" rating in a report on Thursday, August 1st. Sidoti lowered Barrett Business Services from a "buy" rating to a "neutral" rating and set a $35.00 price objective on the stock. in a research note on Wednesday, June 5th. Finally, Roth Mkm raised their target price on Barrett Business Services from $40.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st.

Barrett Business Services Stock Performance

Shares of NASDAQ BBSI traded down $0.16 during midday trading on Thursday, reaching $36.42. 62,964 shares of the stock were exchanged, compared to its average volume of 140,728. The stock has a market capitalization of $953.00 million, a P/E ratio of 20.01, a PEG ratio of 1.23 and a beta of 1.38. The company has a 50 day simple moving average of $35.90 and a 200 day simple moving average of $33.32. Barrett Business Services, Inc. has a twelve month low of $21.59 and a twelve month high of $37.81.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last posted its earnings results on Wednesday, July 31st. The business services provider reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.04. The company had revenue of $279.60 million for the quarter, compared to the consensus estimate of $273.13 million. Barrett Business Services had a return on equity of 25.69% and a net margin of 4.50%. The company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. On average, research analysts expect that Barrett Business Services, Inc. will post 1.99 earnings per share for the current year.

Barrett Business Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.88%. The ex-dividend date was Friday, August 16th. This is a positive change from Barrett Business Services's previous quarterly dividend of $0.08. Barrett Business Services's dividend payout ratio (DPR) is 17.58%.

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.