Barrett Business Services (NASDAQ:BBSI) Shares Pass Above 200-Day Moving Average – What’s Next?

Barrett Business Services, Inc. (NASDAQ:BBSI) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $32.68 and traded as high as $33.86. Barrett Business Services shares last traded at $33.84, with a volume of 153,650 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BBSI shares. Weiss Ratings raised shares of Barrett Business Services from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. Wall Street Zen raised shares of Barrett Business Services from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Zacks Research lowered shares of Barrett Business Services from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Barrington Research set a $44.00 price target on Barrett Business Services in a report on Thursday, August 6th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Barrett Business Services in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Barrett Business Services Stock Down 3.0%

The stock has a market cap of $806.71 million, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 1.26 and a beta of 0.92. The business has a 50 day moving average price of $35.77 and a two-hundred day moving average price of $32.73.

Barrett Business Services (NASDAQ:BBSI) last posted its earnings results on Wednesday, August 5th. The business services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.04). Barrett Business Services had a net margin of 2.77% and a return on equity of 20.95%. The company had revenue of $319.27 million for the quarter, compared to analysts’ expectations of $321.55 million. On average, research analysts forecast that Barrett Business Services, Inc. will post 1.68 earnings per share for the current year.

Barrett Business Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 21st were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, August 21st. Barrett Business Services’s dividend payout ratio is 23.53%.

Insider Buying and Selling

In other Barrett Business Services news, Director Anthony Meeker sold 12,000 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $37.85, for a total transaction of $454,200.00. Following the transaction, the director directly owned 44,945 shares in the company, valued at $1,701,168.25. This trade represents a 21.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James R. Potts sold 3,490 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $38.00, for a total value of $132,620.00. Following the transaction, the executive vice president owned 32,035 shares in the company, valued at approximately $1,217,330. This represents a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,779 shares of company stock valued at $786,233 over the last three months. 4.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Barrett Business Services

Several institutional investors have recently bought and sold shares of the company. Trigran Investments Inc. increased its stake in Barrett Business Services by 62.3% during the 4th quarter. Trigran Investments Inc. now owns 648,738 shares of the business services provider’s stock valued at $23,491,000 after purchasing an additional 249,052 shares in the last quarter. Royce & Associates LP grew its stake in Barrett Business Services by 31.6% during the 4th quarter. Royce & Associates LP now owns 870,863 shares of the business services provider’s stock valued at $31,534,000 after purchasing an additional 208,865 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Barrett Business Services in the second quarter valued at about $72,793,000. Polar Asset Management Partners Inc. purchased a new position in shares of Barrett Business Services in the first quarter worth about $8,316,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Barrett Business Services in the second quarter worth about $2,401,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

About Barrett Business Services

Barrett Business Services, Inc (NASDAQ:BBSI) provides business management solutions for small and mid-sized companies in the United States. The company combines professional employer organization (PEO) services with staffing and recruiting capabilities, allowing clients to outsource or supplement key human resources and administrative functions.

Its services include payroll administration, employee benefits support, workers’ compensation management, human resources guidance, workplace safety and risk management, and regulatory compliance assistance.