Barrett Business Services (NASDAQ:BBSI) Hits New 52-Week High – Time to Buy?

Barrett Business Services, Inc. (NASDAQ:BBSI) reached a new 52-week high during trading on Wednesday . The company traded as high as $43.84 and last traded at $43.84, with a volume of 9656 shares changing hands. The stock had previously closed at $43.30.

Wall Street Analyst Weigh In

BBSI has been the subject of a number of recent research reports. Barrington Research raised their target price on shares of Barrett Business Services from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. StockNews.com raised shares of Barrett Business Services from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Roth Mkm boosted their target price on shares of Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Barrett Business Services Stock Performance

The company has a fifty day moving average of $39.36 and a two-hundred day moving average of $36.10. The company has a market cap of $1.13 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 1.45 and a beta of 1.42.

Barrett Business Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.32 annualized dividend and a dividend yield of 0.73%. Barrett Business Services’s dividend payout ratio (DPR) is presently 16.89%.

Insider Activity at Barrett Business Services

In related news, Director Thomas J. Carley sold 4,584 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $41.24, for a total value of $189,044.16. Following the transaction, the director now owns 91,628 shares of the company’s stock, valued at $3,778,738.72. This trade represents a 4.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Stephen Clabby acquired 1,635 shares of the stock in a transaction on Tuesday, November 12th. The stock was bought at an average cost of $43.01 per share, with a total value of $70,321.35. Following the completion of the transaction, the director now owns 11,327 shares in the company, valued at $487,174.27. This trade represents a 16.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.70% of the stock is currently owned by insiders.

Institutional Trading of Barrett Business Services

A number of large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Barrett Business Services by 152.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,610 shares of the business services provider’s stock worth $1,346,000 after buying an additional 6,399 shares during the period. CWM LLC lifted its position 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 purchasing an additional 841 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Barrett Business Services in the 2nd quarter worth approximately $134,000. Unison Advisors LLC boosted its stake in shares of Barrett Business Services by 301.0% during the second quarter. Unison Advisors LLC now owns 33,144 shares of the business services provider’s stock valued at $1,086,000 after purchasing an additional 24,878 shares in the last quarter. 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.

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.