Trigran Investments Inc. Raises Stock Position in Barrett Business Services, Inc. $BBSI

Trigran Investments Inc. grew its position in Barrett Business Services, Inc. (NASDAQ:BBSI) by 121.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 399,686 shares of the business services provider’s stock after buying an additional 219,049 shares during the period. Barrett Business Services accounts for approximately 3.2% of Trigran Investments Inc.’s investment portfolio, making the stock its 13th largest position. Trigran Investments Inc.’s holdings in Barrett Business Services were worth $17,714,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BBSI. Envestnet Asset Management Inc. acquired a new stake in Barrett Business Services during the second quarter worth $454,000. Thrivent Financial for Lutherans grew its holdings in shares of Barrett Business Services by 20.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,901,425 shares of the business services provider’s stock worth $84,271,000 after purchasing an additional 324,715 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Barrett Business Services by 1,176.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 123,742 shares of the business services provider’s stock worth $5,484,000 after purchasing an additional 114,051 shares during the last quarter. Bessemer Group Inc. raised its holdings in Barrett Business Services by 821,045.1% in the 3rd quarter. Bessemer Group Inc. now owns 418,784 shares of the business services provider’s stock valued at $18,562,000 after buying an additional 418,733 shares during the period. Finally, CSM Advisors LLC acquired a new position in Barrett Business Services in the second quarter valued at about $6,155,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Barrett Business Services Stock Up 0.4%

Shares of BBSI stock opened at $29.22 on Friday. The firm has a 50 day moving average of $35.14 and a two-hundred day moving average of $39.13. The stock has a market capitalization of $736.34 million, a PE ratio of 13.98, a P/E/G ratio of 1.01 and a beta of 1.02. Barrett Business Services, Inc. has a 52 week low of $25.33 and a 52 week high of $49.65.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings data on Wednesday, February 25th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.64. Barrett Business Services had a return on equity of 23.67% and a net margin of 4.39%.The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $323.43 million. During the same period last year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts expect that Barrett Business Services, Inc. will post 2 EPS for the current fiscal year.

Barrett Business Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, March 13th. Barrett Business Services’s dividend payout ratio (DPR) is presently 15.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Barrington Research dropped their price target on shares of Barrett Business Services from $46.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Barrett Business Services in a report on Monday, December 29th. Roth Mkm cut their target price on Barrett Business Services from $54.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Zacks Research lowered Barrett Business Services from a “hold” rating to a “strong sell” rating in a research report on Friday, February 27th. Finally, CJS Securities upgraded Barrett Business Services to a “strong-buy” rating in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Barrett Business Services presently has a consensus rating of “Moderate Buy” and an average target price of $41.50.

Barrett Business Services Company Profile

Barrett Business Services, Inc (NASDAQ: BBSI) is a professional employer organization (PEO) headquartered in Northridge, California. Founded in 1971 by Barrett K. Levesque, the company provides comprehensive human resources outsourcing solutions to small and mid-sized businesses. Through its consultative model, Barrett Business Services helps clients streamline administrative processes, mitigate regulatory risk and focus on core operations.

The company’s core offerings include payroll administration, employee benefits management, workers’ compensation and risk management services.