Boston Partners trimmed its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 12.5% in the third quarter, Holdings Channel.com reports. The fund owned 16,880 shares of the business services provider’s stock after selling 2,418 shares during the quarter. Boston Partners’ holdings in Barrett Business Services were worth $1,499,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Alps Advisors Inc. bought a new stake in Barrett Business Services in the third quarter valued at $360,000. First Trust Advisors LP bought a new stake in shares of Barrett Business Services in the 3rd quarter worth about $1,505,000. Russell Investments Group Ltd. grew its holdings in shares of Barrett Business Services by 33.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 33,269 shares of the business services provider’s stock worth $2,954,000 after purchasing an additional 8,356 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Barrett Business Services by 15.6% during the 3rd quarter. California Public Employees Retirement System now owns 35,109 shares of the business services provider’s stock worth $3,118,000 after purchasing an additional 4,745 shares in the last quarter. Finally, Chicago Equity Partners LLC increased its position in shares of Barrett Business Services by 447.1% during the 3rd quarter. Chicago Equity Partners LLC now owns 19,095 shares of the business services provider’s stock worth $1,696,000 after purchasing an additional 15,605 shares in the last quarter. 82.07% of the stock is owned by institutional investors.
In other Barrett Business Services news, CEO Michael L. Elich sold 2,026 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $95.00, for a total transaction of $192,470.00. Following the sale, the chief executive officer now owns 126,246 shares of the company’s stock, valued at approximately $11,993,370. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas J. Carley sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $88.32, for a total transaction of $176,640.00. Following the completion of the sale, the director now owns 9,558 shares of the company’s stock, valued at approximately $844,162.56. The disclosure for this sale can be found here. 6.80% of the stock is owned by corporate insiders.
Barrett Business Services (NASDAQ:BBSI) last announced its earnings results on Tuesday, November 5th. The business services provider reported $3.24 EPS for the quarter, topping the consensus estimate of $2.30 by $0.94. Barrett Business Services had a return on equity of 39.84% and a net margin of 5.72%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.55 billion. As a group, research analysts predict that Barrett Business Services, Inc. will post 6.07 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.30 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.37%. Barrett Business Services’s dividend payout ratio is 24.10%.
Several brokerages recently issued reports on BBSI. ValuEngine downgraded shares of Barrett Business Services from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. BidaskClub cut shares of Barrett Business Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 17th. Roth Capital raised their price objective on shares of Barrett Business Services from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Zacks Investment Research upgraded shares of Barrett Business Services from a “hold” rating to a “strong-buy” rating and set a $109.00 target price for the company in a research note on Friday, November 8th.
Barrett Business Services Profile
Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce.
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