Teacher Retirement System of Texas Has $1.41 Million Holdings in Barrett Business Services, Inc. (NASDAQ:BBSI)

Posted by Defense World Staff on Jun 8th, 2023

Teacher Retirement System of Texas lifted its stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI – Get Rating) by 52.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,070 shares of the business services provider’s stock after buying an additional 5,212 shares during the period. Teacher Retirement System of Texas owned about 0.22% of Barrett Business Services worth $1,406,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BBSI. Advisor Group Holdings Inc. increased its holdings in shares of Barrett Business Services by 39.9% during the first quarter. Advisor Group Holdings Inc. now owns 4,940 shares of the business services provider’s stock worth $383,000 after buying an additional 1,410 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Barrett Business Services by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 55,173 shares of the business services provider’s stock worth $4,275,000 after purchasing an additional 643 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Barrett Business Services by 4,307.1% in the first quarter. PNC Financial Services Group Inc. now owns 617 shares of the business services provider’s stock worth $49,000 after purchasing an additional 603 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Barrett Business Services in the first quarter worth $529,000. Finally, MetLife Investment Management LLC grew its stake in shares of Barrett Business Services by 57.5% in the first quarter. MetLife Investment Management LLC now owns 3,590 shares of the business services provider’s stock worth $278,000 after purchasing an additional 1,311 shares during the last quarter. 86.40% of the stock is currently owned by institutional investors and hedge funds.

Barrett Business Services Trading Up 3.5 %

Shares of BBSI opened at $91.60 on Thursday. The stock has a market capitalization of $623.80 million, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35. The firm’s fifty day simple moving average is $84.95 and its two-hundred day simple moving average is $91.05. Barrett Business Services, Inc. has a 12 month low of $65.93 and a 12 month high of $100.85.

Barrett Business Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Shareholders of record on Friday, May 19th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.31%. Barrett Business Services’s dividend payout ratio (DPR) is currently 17.94%.

Analysts Set New Price Targets

Several analysts recently weighed in on BBSI shares. StockNews.com started coverage on shares of Barrett Business Services in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Barrington Research boosted their price objective on shares of Barrett Business Services from $102.00 to $104.00 in a research note on Friday, March 3rd.

Barrett Business Services Profile

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Barrett Business Services, Inc engages in the provision of business management solutions for small and mid-sized companies. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. It focuses on professional employers, and staffing and recruiting services.