Barrett Business Services (NASDAQ:BBSI) Stock Price Expected to Rise, Roth Mkm Analyst Says

Barrett Business Services (NASDAQ:BBSI) had its price objective lifted by Roth Mkm from $43.00 to $45.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

Separately, Barrington Research reiterated an “outperform” rating and issued a $41.00 target price on shares of Barrett Business Services in a research report on Tuesday, October 29th.

Barrett Business Services Stock Performance

Shares of NASDAQ:BBSI opened at $41.37 on Thursday. The company has a market cap of $1.08 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 1.35 and a beta of 1.39. Barrett Business Services has a 52 week low of $25.58 and a 52 week high of $41.48. The firm has a 50 day simple moving average of $36.91 and a 200 day simple moving average of $34.57.

Barrett Business Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.77%. Barrett Business Services’s payout ratio is 16.89%.

Insiders Place Their Bets

In other Barrett Business Services news, CEO Gary Kramer sold 34,288 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $35.05, for a total value of $1,201,794.40. Following the completion of the sale, the chief executive officer now owns 242,543 shares in the company, valued at $8,501,132.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BBSI. CWM LLC raised its holdings in shares of Barrett Business Services by 12,014.3% during the 2nd quarter. CWM LLC now owns 848 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 841 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Barrett Business Services by 300.0% during the 2nd quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 702 shares in the last quarter. Huntington National Bank bought a new position in shares of Barrett Business Services during the 3rd quarter valued at $39,000. USA Financial Formulas bought a new position in shares of Barrett Business Services during the 3rd quarter valued at $60,000. Finally, Nisa Investment Advisors LLC grew its stake in Barrett Business Services by 415.2% in 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 during the last quarter. 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.