Professional employer organization services revenue drove growth at Barrett Business Services Inc. (NASDAQ: BBSI) in the fourth quarter. The Vancouver, Washington-based PEO and staffing provider saw staffing revenue slip.

Total revenue at Barrett rose 1.7% to $276.7 million.

PEO services revenue rose 4.6% to $254.3 million. The average number of PEO worksite employees rose 2% in the fourth quarter to 126,492.

Staffing revenue, on the other hand, fell 22.1% to $22.4 million.

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Share price

Shares in Barrett Business Services were up 8.62% to $125.36 as of 1:03 p.m. Eastern time. They set a new 52-week high today when they reached $130.00.