Barrett Business Services, Inc. (NASDAQ:BBSI) Position Cut by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 4.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 52,805 shares of the business services provider’s stock after selling 2,587 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Barrett Business Services were worth $2,294,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Mawer Investment Management Ltd. grew its holdings in Barrett Business Services by 236.4% during the third quarter. Mawer Investment Management Ltd. now owns 1,834,452 shares of the business services provider’s stock worth $68,810,000 after acquiring an additional 1,289,147 shares during the period. Thrivent Financial for Lutherans acquired a new stake in Barrett Business Services during the 3rd quarter worth about $16,422,000. JPMorgan Chase & Co. lifted its holdings in shares of Barrett Business Services by 19.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 546,510 shares of the business services provider’s stock valued at $20,500,000 after buying an additional 88,350 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Barrett Business Services by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 705,598 shares of the business services provider’s stock valued at $26,471,000 after buying an additional 32,632 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Barrett Business Services by 27.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 110,331 shares of the business services provider’s stock valued at $4,139,000 after buying an additional 23,933 shares during the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Barrett Business Services Stock Performance

Shares of BBSI stock opened at $40.14 on Friday. The stock’s 50 day simple moving average is $42.86 and its 200 day simple moving average is $39.80. Barrett Business Services, Inc. has a twelve month low of $27.89 and a twelve month high of $44.97. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 1.25 and a beta of 1.41.

Insider Activity at Barrett Business Services

In related news, Director Thomas B. Cusick sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $43.41, for a total value of $130,230.00. Following the transaction, the director now directly owns 27,776 shares of the company’s stock, valued at approximately $1,205,756.16. This trade represents a 9.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BBSI has been the subject of several research reports. StockNews.com upgraded Barrett Business Services from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Barrington Research reiterated an “outperform” rating and set a $45.00 price target on shares of Barrett Business Services in a report on Wednesday, December 11th. Finally, Roth Mkm lifted their price target on Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

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.