Barrett Business Services (NASDAQ:BBSI) Price Target Raised to $45.00

Barrett Business Services (NASDAQ:BBSI) had its price target lifted by Barrington Research from $41.00 to $45.00 in a research note released on Thursday,Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Separately, Roth Mkm lifted their price target on shares of Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday.

Barrett Business Services Price Performance

Shares of NASDAQ:BBSI opened at $41.37 on Thursday. Barrett Business Services has a one year low of $25.58 and a one year high of $41.48. The company has a 50 day moving average of $36.91 and a 200-day moving average of $34.57. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 21.83, a P/E/G ratio of 1.35 and a beta of 1.39.

Barrett Business Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, November 22nd. Barrett Business Services’s dividend payout ratio is currently 16.89%.

Insider Activity at Barrett Business Services

In related news, CEO Gary Kramer sold 34,288 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $35.05, for a total transaction of $1,201,794.40. Following the completion of the transaction, the chief executive officer now owns 242,543 shares in the company, valued at approximately $8,501,132.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. CWM LLC boosted its holdings in shares of Barrett Business Services by 12,014.3% in the second quarter. CWM LLC now owns 848 shares of the business services provider’s stock valued at $28,000 after buying an additional 841 shares during the period. Amalgamated Bank boosted its holdings in shares of Barrett Business Services by 300.0% in the second quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock valued at $31,000 after buying an additional 702 shares during the period. Huntington National Bank acquired a new position in shares of Barrett Business Services in the third quarter valued at approximately $39,000. USA Financial Formulas acquired a new position in shares of Barrett Business Services in the third quarter valued at approximately $60,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Barrett Business Services by 415.2% in the second quarter. Nisa Investment Advisors LLC now owns 2,906 shares of the business services provider’s stock valued at $95,000 after buying an additional 2,342 shares during the period. Institutional investors and hedge funds 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.