Allspring Global Investments Holdings LLC Sells 17,641 Shares of Barrett Business Services, Inc. (NASDAQ:BBSI)

Allspring Global Investments Holdings LLC lowered its holdings in Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 27.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,483 shares of the business services provider's stock after selling 17,641 shares during the period. Allspring Global Investments Holdings LLC owned about 0.18% of Barrett Business Services worth $1,781,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC lifted its holdings 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 buying an additional 841 shares during the last quarter. Amalgamated Bank lifted its holdings in Barrett Business Services by 300.0% during the 2nd quarter. Amalgamated Bank now owns 936 shares of the business services provider's stock worth $31,000 after buying an additional 702 shares during the last quarter. USA Financial Formulas bought a new position in Barrett Business Services during the 3rd quarter worth approximately $60,000. Nisa Investment Advisors LLC lifted its holdings in Barrett Business Services by 415.2% during the 2nd 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 during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Barrett Business Services by 300.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the business services provider's stock worth $107,000 after buying an additional 2,460 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BBSI shares. Roth Mkm raised their target price on Barrett Business Services from $40.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Barrington Research restated an "outperform" rating and issued a $41.00 target price on shares of Barrett Business Services in a research report on Tuesday.

Barrett Business Services Trading Down 2.2 %

BBSI stock traded down $0.80 during mid-day trading on Thursday, reaching $36.19. 99,526 shares of the stock traded hands, compared to its average volume of 135,090. Barrett Business Services, Inc. has a 52-week low of $21.95 and a 52-week high of $38.07. The company has a market cap of $945.93 million, a P/E ratio of 19.88, a P/E/G ratio of 1.24 and a beta of 1.38. The stock's fifty day moving average is $36.56 and its 200-day moving average is $34.17.

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

Insider Activity at Barrett Business Services

In other Barrett Business Services news, CEO Gary Kramer sold 34,288 shares of the 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 transaction, the chief executive officer now owns 242,543 shares in the company, valued at $8,501,132.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 35,133 shares of company stock valued at $1,231,357. 3.70% of the stock is currently owned by corporate insiders.

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.