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

Shares of Barrett Business Services, Inc. (NASDAQ:BBSI) reached a new 52-week high during trading on Friday . The stock traded as high as $44.97 and last traded at $44.20, with a volume of 5734 shares traded. The stock had previously closed at $43.94.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. StockNews.com raised shares of Barrett Business Services from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Roth Mkm upped their price target on shares of Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $45.00 price target on shares of Barrett Business Services in a research note on Wednesday, December 11th.

Barrett Business Services Price Performance

The firm has a market cap of $1.14 billion, a P/E ratio of 23.27, a PEG ratio of 1.25 and a beta of 1.42. The stock’s 50-day simple moving average is $42.82 and its two-hundred day simple moving average is $38.23.

Barrett Business Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Friday, November 22nd. Barrett Business Services’s dividend payout ratio (DPR) is 16.89%.

Insider Buying and Selling at Barrett Business Services

In other Barrett Business Services news, Director Thomas B. Cusick sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $43.41, for a total transaction of $130,230.00. Following the sale, the director now owns 27,776 shares of the company’s stock, valued at approximately $1,205,756.16. The trade was a 9.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas J. Carley sold 4,584 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.24, for a total transaction of $189,044.16. Following the sale, the director now directly owns 91,628 shares in the company, valued at approximately $3,778,738.72. This represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Barrett Business Services

Several large investors have recently made changes to their positions in BBSI. Ironwood Investment Management LLC raised its position in shares of Barrett Business Services by 155.0% in the second quarter. Ironwood Investment Management LLC now owns 87,856 shares of the business services provider’s stock valued at $2,879,000 after buying an additional 53,405 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its holdings in shares of Barrett Business Services by 259.8% in the second quarter. Pacific Ridge Capital Partners LLC now owns 378,786 shares of the business services provider’s stock valued at $12,413,000 after purchasing an additional 273,516 shares during the period. Barclays PLC boosted its stake in Barrett Business Services by 42.9% during the third quarter. Barclays PLC now owns 61,332 shares of the business services provider’s stock worth $2,300,000 after buying an additional 18,414 shares during the period. JPMorgan Chase & Co. boosted its stake in Barrett Business Services by 19.3% during the third quarter. JPMorgan Chase & Co. now owns 546,510 shares of the business services provider’s stock worth $20,500,000 after buying an additional 88,350 shares during the period. Finally, Mawer Investment Management Ltd. boosted its stake in shares of Barrett Business Services by 236.4% in the third quarter. Mawer Investment Management Ltd. now owns 1,834,452 shares of the business services provider’s stock valued at $68,810,000 after purchasing an additional 1,289,147 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Barrett Business Services Company Profile

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.