Barrett Business Services (NASDAQ:BBSI) Stock Price Passes Above 200-Day Moving Average of $32.35

Shares of Barrett Business Services, Inc. (NASDAQ:BBSI) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $32.35 and traded as high as $36.01. Barrett Business Services shares last traded at $35.12, with a volume of 156,018 shares.

Wall Street Analyst Weigh In

BBSI has been the subject of several research analyst reports. Barrington Research lifted their price target on Barrett Business Services from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Roth Mkm boosted their target price on Barrett Business Services from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Sidoti lowered Barrett Business Services from a “buy” rating to a “neutral” rating and set a $35.00 target price for the company. in a research note on Wednesday, June 5th. Finally, StockNews.com lowered Barrett Business Services from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 29th.

Barrett Business Services Stock Performance

The business has a 50 day moving average price of $34.76 and a two-hundred day moving average price of $32.39. The company has a market cap of $904.59 million, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 1.22 and a beta of 1.38.

Barrett Business Services (NASDAQ:BBSI) last released its quarterly 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 business had revenue of $279.60 million during the quarter, compared to analyst estimates of $273.13 million. Barrett Business Services had a return on equity of 25.69% and a net margin of 4.50%. Barrett Business Services’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 EPS. As a group, research analysts expect that Barrett Business Services, Inc. will post 1.99 EPS for the current year.

Barrett Business Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.08 per share. This is a positive change from Barrett Business Services’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, August 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.93%. Barrett Business Services’s dividend payout ratio is presently 17.58%.

Insider Buying and Selling at Barrett Business Services

In other Barrett Business Services news, CEO Gary Kramer sold 34,288 shares of the company’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 transaction of $1,201,794.40. Following the transaction, the chief executive officer now owns 242,543 shares in the company, valued at approximately $8,501,132.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Barrett Business Services news, CEO Gary Kramer sold 34,288 shares of the company’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 transaction of $1,201,794.40. Following the transaction, the chief executive officer now owns 242,543 shares in the company, valued at approximately $8,501,132.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas B. Cusick sold 2,400 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $33.01, for a total value of $79,230.00. Following the transaction, the director now owns 26,192 shares in the company, valued at approximately $864,663.40. The disclosure for this sale can be found here. Insiders sold 37,533 shares of company stock valued at $1,310,587 in the last 90 days. Insiders own 3.70% of the company’s stock.

Institutional Trading of Barrett Business Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC grew its stake in shares of Barrett Business Services by 12,014.3% in 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 raised 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 during the period. Nisa Investment Advisors LLC lifted its position in shares of 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 valued at $95,000 after buying an additional 2,342 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of 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 valued at $107,000 after acquiring an additional 2,460 shares during the period. Finally, Perkins Coie Trust Co purchased a new position in Barrett Business Services during the second quarter valued at approximately $118,000. Hedge funds and other 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.