Bessemer Group Inc. increased its position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 1.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,400 shares of the business services provider’s stock after buying an additional 300 shares during the period. Bessemer Group Inc. owned 0.30% of Barrett Business Services worth $1,850,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc boosted its holdings in shares of Barrett Business Services by 29.1% during the 4th quarter. Legal & General Group Plc now owns 1,349 shares of the business services provider’s stock worth $77,000 after buying an additional 304 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Barrett Business Services by 49,366.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,484 shares of the business services provider’s stock worth $115,000 after buying an additional 1,481 shares during the period. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Barrett Business Services by 393.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 2,321 shares of the business services provider’s stock worth $133,000 after buying an additional 1,851 shares during the period. Citigroup Inc. boosted its holdings in shares of Barrett Business Services by 13.4% during the 4th quarter. Citigroup Inc. now owns 2,593 shares of the business services provider’s stock worth $148,000 after buying an additional 307 shares during the period. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Barrett Business Services during the 1st quarter worth $228,000. 82.66% of the stock is owned by institutional investors and hedge funds.
BBSI has been the subject of several recent analyst reports. BidaskClub raised shares of Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Zacks Investment Research raised shares of Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Barrett Business Services presently has an average rating of “Hold” and a consensus target price of $99.67.
Shares of NASDAQ BBSI traded up $1.50 during trading hours on Friday, hitting $90.28. 2,585 shares of the stock were exchanged, compared to its average volume of 40,773. The stock has a market cap of $663.25 million, a price-to-earnings ratio of 18.13 and a beta of 0.88. Barrett Business Services, Inc. has a one year low of $53.10 and a one year high of $97.61. The business’s 50 day moving average is $82.56. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.19.
Barrett Business Services (NASDAQ:BBSI) last released its earnings results on Tuesday, April 30th. The business services provider reported ($0.31) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.81) by $0.50. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Barrett Business Services had a net margin of 4.80% and a return on equity of 42.37%. On average, analysts anticipate that Barrett Business Services, Inc. will post 5.5 EPS for the current year.
About Barrett Business Services
Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce.
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