Shares of Barrett Business Services Inc. (NASDAQ:BBSI) shot up 3.5% during trading on Wednesday . The stock traded as high as $43.64 and last traded at $43.35, with a volume of 63,321 shares. The stock had previously closed at $41.89.

Separately, TheStreet downgraded Barrett Business Services from a “buy” rating to a “hold” rating in a research report on Thursday, June 23rd.

The firm has a market cap of $311.83 million and a P/E ratio of 13.64. The stock has a 50-day moving average price of $38.64 and a 200 day moving average price of $34.45.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings results on Wednesday, June 22nd. The company reported ($1.11) earnings per share (EPS) for the quarter. The business earned $191 billion during the quarter, compared to the consensus estimate of $166 million. Analysts forecast that Barrett Business Services Inc. will post $3.43 EPS for the current fiscal year.

In other news, Director Jon L. Justesen bought 1,000 shares of Barrett Business Services stock in a transaction dated Saturday, May 7th. The stock was acquired at an average cost of $46.81 per share, with a total value of $46,810.00. Following the acquisition, the director now owns 12,628 shares of the company’s stock, valued at $591,116.68. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

An institutional investor recently raised its position in Barrett Business Services stock. California Public Employees Retirement System boosted its stake in shares of Barrett Business Services Inc. (NASDAQ:BBSI) by 13.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 101,500 shares of the company’s stock after buying an additional 12,000 shares during the period. California Public Employees Retirement System owned about 1.41% of Barrett Business Services worth $4,419,000 at the end of the most recent quarter.

Barrett Business Services, Inc is a provider of business management solutions for small-and mid-sized companies. The Company has developed a management platform that integrates an approach from the management consulting industry with tools from the human resource outsourcing industry. The Company offers two categories of services: Professional Employer Services (PEO) and Staffing.

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