Assenagon Asset Management S.A. Buys 23,933 Shares of Barrett Business Services, Inc. (NASDAQ:BBSI)

Assenagon Asset Management S.A. boosted its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 27.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,331 shares of the business services provider's stock after purchasing an additional 23,933 shares during the period. Assenagon Asset Management S.A. owned about 0.42% of Barrett Business Services worth $4,139,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. LSV Asset Management boosted its position in shares of Barrett Business Services by 0.3% during the 1st quarter. LSV Asset Management now owns 30,072 shares of the business services provider's stock worth $3,811,000 after purchasing an additional 100 shares in the last quarter. Perkins Coie Trust Co grew its holdings in Barrett Business Services by 11.1% during the third quarter. Perkins Coie Trust Co now owns 4,000 shares of the business services provider's stock valued at $150,000 after purchasing an additional 400 shares during the period. BNP Paribas Financial Markets lifted its holdings in Barrett Business Services by 10.3% during the first quarter. BNP Paribas Financial Markets now owns 5,462 shares of the business services provider's stock valued at $692,000 after purchasing an additional 509 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Barrett Business Services by 300.0% during the 2nd quarter. Amalgamated Bank now owns 936 shares of the business services provider's stock valued at $31,000 after buying an additional 702 shares in the last quarter. Finally, Lakewood Asset Management LLC lifted its position in shares of Barrett Business Services by 8.2% during the third quarter. Lakewood Asset Management LLC now owns 10,562 shares of the business services provider's stock worth $396,000 after acquiring an additional 798 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on BBSI shares. Barrington Research reiterated an "outperform" rating and issued a $41.00 target price on shares of Barrett Business Services in a research note on Tuesday. Roth Mkm upped their price objective on shares of Barrett Business Services from $40.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, August 1st.

Insider Activity at Barrett Business Services

In other Barrett Business Services news, CEO Gary Kramer sold 34,288 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 242,543 shares of the company's stock, valued at $8,501,132.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 35,133 shares of company stock worth $1,231,357. 3.70% of the stock is owned by corporate insiders.

Barrett Business Services Stock Performance

Shares of BBSI stock traded down $0.22 on Wednesday, reaching $36.99. The stock had a trading volume of 92,496 shares, compared to its average volume of 135,260. Barrett Business Services, Inc. has a 1 year low of $21.95 and a 1 year high of $38.07. The stock has a market cap of $967.92 million, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.38. The company has a 50 day simple moving average of $36.52 and a 200 day simple moving average of $34.15.

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

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.