L. Roy Papp & Associates LLP Trims Holdings in Barrett Business Services, Inc. (NASDAQ:BBSI)

L. Roy Papp & Associates LLP lowered its stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 25.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,280 shares of the business services provider’s stock after selling 2,200 shares during the period. L. Roy Papp & Associates LLP’s holdings in Barrett Business Services were worth $236,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. CWC Advisors LLC. purchased a new position in shares of Barrett Business Services during the third quarter worth $307,000. Assenagon Asset Management S.A. lifted its stake in Barrett Business Services by 27.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 110,331 shares of the business services provider’s stock worth $4,139,000 after acquiring an additional 23,933 shares in the last quarter. USA Financial Formulas purchased a new position in Barrett Business Services during the 3rd quarter valued at about $60,000. Perkins Coie Trust Co grew its position in Barrett Business Services by 11.1% in the 3rd quarter. Perkins Coie Trust Co now owns 4,000 shares of the business services provider’s stock valued at $150,000 after acquiring an additional 400 shares in the last quarter. Finally, Lakewood Asset Management LLC increased its stake in Barrett Business Services by 8.2% during the third quarter. Lakewood Asset Management LLC now owns 10,562 shares of the business services provider’s stock worth $396,000 after purchasing an additional 798 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insider Transactions at Barrett Business Services

In other news, CEO Gary Kramer sold 34,288 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $35.05, for a total transaction of $1,201,794.40. Following the sale, the chief executive officer now owns 242,543 shares of the company’s stock, valued at approximately $8,501,132.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 35,133 shares of company stock valued at $1,231,357. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BBSI shares. Roth Mkm raised their price objective on shares of Barrett Business Services from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barrington Research boosted their price target on shares of Barrett Business Services from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st.

Barrett Business Services Price Performance

Shares of BBSI stock traded down $0.46 during trading hours on Friday, reaching $35.90. 61,942 shares of the stock were exchanged, compared to its average volume of 135,441. The business’s fifty day moving average is $36.44 and its two-hundred day moving average is $34.02. The firm has a market capitalization of $939.40 million, a P/E ratio of 19.73, a P/E/G ratio of 1.24 and a beta of 1.38. Barrett Business Services, Inc. has a 12-month low of $21.79 and a 12-month high of $38.07.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $279.60 million for the quarter, compared to the consensus estimate of $273.13 million. Barrett Business Services had a net margin of 4.50% and a return on equity of 25.69%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 EPS. As a group, equities research analysts predict that Barrett Business Services, Inc. will post 1.99 earnings per share for the current fiscal year.

Barrett Business Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.89%. This is an increase from Barrett Business Services’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, August 16th. Barrett Business Services’s payout ratio is 17.58%.

Barrett Business Services 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.