Barrett Business Services (NASDAQ:BBSI) Reaches New 1-Year High at $35.03

Shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $35.03 and last traded at $34.85, with a volume of 11336 shares traded. The stock had previously closed at $34.55.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BBSI shares. Barrington Research restated an "outperform" rating and issued a $35.25 price objective on shares of Barrett Business Services in a research report on Tuesday, May 28th. StockNews.com cut shares of Barrett Business Services from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 29th. Finally, Sidoti cut shares of Barrett Business Services from a "buy" rating to a "neutral" rating and set a $35.00 price objective on the stock. in a research report on Wednesday, June 5th.

Get Our Latest Report on Barrett Business Services

Barrett Business Services Stock Up 2.4 %

The business's 50-day simple moving average is $32.75 and its 200 day simple moving average is $30.72. The firm has a market capitalization of $926.16 million, a P/E ratio of 19.17, a PEG ratio of 1.22 and a beta of 1.38.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.00 EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.08. Barrett Business Services had a net margin of 4.60% and a return on equity of 26.58%. The business had revenue of $265.78 million for the quarter, compared to analysts' expectations of $1.88 billion. During the same period last year, the business earned $0.03 earnings per share. Sell-side analysts predict that Barrett Business Services, Inc. will post 1.99 earnings per share for the current year.

Barrett Business Services Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Thursday, May 16th. Barrett Business Services's payout ratio is currently 16.46%.

Insider Buying and Selling at Barrett Business Services

In other Barrett Business Services news, Director Thomas B. Cusick sold 2,400 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $33.01, for a total transaction of $79,230.00. Following the transaction, the director now directly owns 26,192 shares in the company, valued at $864,663.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. AJOVista LLC bought a new position in shares of Barrett Business Services in the fourth quarter worth approximately $27,000. CWM LLC grew its holdings in shares of Barrett Business Services by 12,014.3% in the second 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. Virtu Financial LLC bought a new position in shares of Barrett Business Services in the first quarter worth approximately $227,000. Arizona State Retirement System bought a new position in shares of Barrett Business Services in the fourth quarter worth approximately $218,000. Finally, SG Americas Securities LLC bought a new position in shares of Barrett Business Services in the fourth quarter worth approximately $226,000. Institutional investors own 86.76% of the company's stock.

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.

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