Barrett Business Services, Inc. (NASDAQ:BBSI) Shares Sold by Concentrum Wealth Management

Concentrum Wealth Management lessened its position in Barrett Business Services, Inc. (NASDAQ:BBSI) by 87.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,900 shares of the business services provider’s stock after selling 47,724 shares during the quarter. Concentrum Wealth Management’s holdings in Barrett Business Services were worth $300,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Aristides Capital LLC acquired a new stake in Barrett Business Services during the 4th quarter worth approximately $337,000. Wells Fargo & Company MN raised its stake in shares of Barrett Business Services by 33.6% in the fourth quarter. Wells Fargo & Company MN now owns 15,942 shares of the business services provider’s stock valued at $693,000 after acquiring an additional 4,008 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Barrett Business Services by 17.1% in the fourth quarter. Franklin Resources Inc. now owns 50,091 shares of the business services provider’s stock valued at $2,176,000 after purchasing an additional 7,301 shares during the period. Prudent Man Investment Management Inc. acquired a new position in Barrett Business Services during the 4th quarter worth $35,000. Finally, Mawer Investment Management Ltd. increased its holdings in Barrett Business Services by 15.1% during the 4th quarter. Mawer Investment Management Ltd. now owns 2,110,550 shares of the business services provider’s stock worth $91,682,000 after purchasing an additional 276,098 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Barrett Business Services Stock Performance

Shares of NASDAQ BBSI opened at $39.47 on Monday. The stock’s 50-day simple moving average is $41.26 and its 200-day simple moving average is $40.87. The firm has a market capitalization of $1.02 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 1.21 and a beta of 1.09. Barrett Business Services, Inc. has a fifty-two week low of $28.42 and a fifty-two week high of $44.97.

Barrett Business Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.81%. Barrett Business Services’s payout ratio is currently 16.08%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BBSI. StockNews.com upgraded Barrett Business Services from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Barrington Research reiterated an “outperform” rating and set a $45.00 price target on shares of Barrett Business Services in a report on Wednesday, March 12th.

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.