Bessemer Group Inc. Purchases 418,733 Shares of Barrett Business Services, Inc. $BBSI

Bessemer Group Inc. raised its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 821,045.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 418,784 shares of the business services provider’s stock after purchasing an additional 418,733 shares during the quarter. Bessemer Group Inc.’s holdings in Barrett Business Services were worth $18,562,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BBSI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Barrett Business Services by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,219 shares of the business services provider’s stock valued at $626,000 after purchasing an additional 633 shares during the period. Millennium Management LLC purchased a new position in Barrett Business Services in the 1st quarter valued at approximately $3,747,000. Jane Street Group LLC purchased a new position in Barrett Business Services in the 1st quarter valued at approximately $1,732,000. Envestnet Asset Management Inc. bought a new stake in Barrett Business Services during the 2nd quarter valued at $454,000. Finally, Teacher Retirement System of Texas lifted its position in shares of Barrett Business Services by 2.6% during the second quarter. Teacher Retirement System of Texas now owns 142,607 shares of the business services provider’s stock worth $5,945,000 after acquiring an additional 3,549 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Insider Buying and Selling at Barrett Business Services

In related news, Director Joseph Stephen Clabby acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was bought at an average cost of $34.83 per share, with a total value of $34,830.00. Following the acquisition, the director owned 15,391 shares of the company’s stock, valued at approximately $536,068.53. The trade was a 6.95% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.10% of the company’s stock.

Barrett Business Services Stock Up 1.4%

Shares of NASDAQ BBSI opened at $37.85 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average of $36.93 and a 200-day moving average of $41.09. The firm has a market capitalization of $969.72 million, a price-to-earnings ratio of 18.20, a PEG ratio of 0.92 and a beta of 0.99. Barrett Business Services, Inc. has a 12 month low of $33.01 and a 12 month high of $49.65.

Barrett Business Services (NASDAQ:BBSI) last announced its earnings results on Wednesday, November 5th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.02). Barrett Business Services had a net margin of 4.48% and a return on equity of 24.36%. The company had revenue of $318.95 million for the quarter, compared to the consensus estimate of $319.27 million. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Sell-side analysts expect that Barrett Business Services, Inc. will post 2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BBSI has been the topic of a number of analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Barrett Business Services in a research note on Monday, December 29th. Barrington Research reiterated an “outperform” rating and set a $46.00 price target on shares of Barrett Business Services in a research report on Monday, February 2nd. Wall Street Zen downgraded shares of Barrett Business Services from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Finally, CJS Securities raised shares of Barrett Business Services to a “strong-buy” rating in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $46.00.

Barrett Business Services Company Profile

Barrett Business Services, Inc (NASDAQ: BBSI) is a professional employer organization (PEO) headquartered in Northridge, California. Founded in 1971 by Barrett K. Levesque, the company provides comprehensive human resources outsourcing solutions to small and mid-sized businesses. Through its consultative model, Barrett Business Services helps clients streamline administrative processes, mitigate regulatory risk and focus on core operations.

The company’s core offerings include payroll administration, employee benefits management, workers’ compensation and risk management services.