Barrett Business Services, Inc. (NASDAQ:BBSI) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 13.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 610,089 shares of the business services provider’s stock after selling 95,509 shares during the quarter. Geode Capital Management LLC owned approximately 2.35% of Barrett Business Services worth $26,509,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC boosted its position in Barrett Business Services by 42.9% during the third quarter. Barclays PLC now owns 61,332 shares of the business services provider’s stock worth $2,300,000 after acquiring an additional 18,414 shares during the last quarter. Westside Investment Management Inc. acquired a new position in Barrett Business Services during the third quarter worth approximately $34,000. Tidal Investments LLC purchased a new position in Barrett Business Services during the third quarter worth approximately $349,000. Franklin Resources Inc. boosted its holdings in Barrett Business Services by 1.7% in the third quarter. Franklin Resources Inc. now owns 42,790 shares of the business services provider’s stock valued at $1,590,000 after acquiring an additional 704 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Barrett Business Services by 29.7% during the 3rd quarter. Principal Financial Group Inc. now owns 17,300 shares of the business services provider’s stock worth $649,000 after purchasing an additional 3,960 shares during the period. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on BBSI. StockNews.com upgraded Barrett Business Services from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Barrington Research restated an “outperform” rating and set a $45.00 price objective on shares of Barrett Business Services in a research note on Wednesday, March 12th.

Barrett Business Services Price Performance

BBSI stock opened at $40.74 on Friday. Barrett Business Services, Inc. has a 1-year low of $28.42 and a 1-year high of $44.97. The firm has a fifty day moving average price of $40.46 and a two-hundred day moving average price of $40.99. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.21 and a beta of 1.09.

Barrett Business Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.08 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.79%. Barrett Business Services’s payout ratio is currently 16.08%.

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.