Barrett Business Services (NASDAQ:BBSI) Stock Passes Above 200-Day Moving Average of $111.17

Barrett Business Services, Inc. (NASDAQ:BBSI)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $111.17 and traded as high as $123.92. Barrett Business Services shares last traded at $122.35, with a volume of 20,961 shares traded.

Analyst Upgrades and Downgrades

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $141.00 target price on shares of Barrett Business Services in a research report on Monday, April 1st.

Barrett Business Services Stock Performance

The company’s 50-day moving average price is $119.71 and its 200 day moving average price is $111.17. The stock has a market capitalization of $799.68 million, a PE ratio of 16.47, a PEG ratio of 1.11 and a beta of 1.35.

Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings results on Wednesday, February 28th. The business services provider reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.29. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.02 billion. Barrett Business Services had a net margin of 4.73% and a return on equity of 27.69%. Analysts expect that Barrett Business Services, Inc. will post 7.78 earnings per share for the current year.

Barrett Business Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.98%. The ex-dividend date was Thursday, March 14th. Barrett Business Services’s dividend payout ratio is currently 16.15%.

Hedge Funds Weigh In On Barrett Business Services

Hedge funds have recently modified their holdings of the stock. AJOVista LLC purchased a new position in shares of Barrett Business Services in the fourth quarter worth $27,000. Tower Research Capital LLC TRC lifted its holdings in shares of Barrett Business Services by 80.0% in the second quarter. Tower Research Capital LLC TRC now owns 306 shares of the business services provider’s stock worth $27,000 after buying an additional 136 shares in the last quarter. Ramirez Asset Management Inc. purchased a new position in shares of Barrett Business Services in the third quarter worth $45,000. Comerica Bank purchased a new position in shares of Barrett Business Services in the third quarter worth $45,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Barrett Business Services by 4,307.1% in the first quarter. PNC Financial Services Group Inc. now owns 617 shares of the business services provider’s stock worth $49,000 after buying an additional 603 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

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.