Boston Partners trimmed its stake in CBIZ, Inc. (NYSE:CBZ) by 6.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 251,809 shares of the business services provider’s stock after selling 16,280 shares during the period. Boston Partners owned about 0.46% of CBIZ worth $4,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the business. Burgundy Asset Management Ltd. lifted its position in shares of CBIZ by 2.2% in the 4th quarter. Burgundy Asset Management Ltd. now owns 4,897,020 shares of the business services provider’s stock worth $75,659,000 after purchasing an additional 106,039 shares during the period. BlackRock Inc. lifted its position in shares of CBIZ by 1.1% in the 4th quarter. BlackRock Inc. now owns 3,355,981 shares of the business services provider’s stock worth $51,851,000 after purchasing an additional 35,187 shares during the period. Cardinal Capital Management LLC CT lifted its position in shares of CBIZ by 3.2% in the 4th quarter. Cardinal Capital Management LLC CT now owns 2,749,632 shares of the business services provider’s stock worth $42,482,000 after purchasing an additional 84,186 shares during the period. Renaissance Technologies LLC lifted its position in shares of CBIZ by 10.5% in the 4th quarter. Renaissance Technologies LLC now owns 963,807 shares of the business services provider’s stock worth $14,891,000 after purchasing an additional 91,381 shares during the period. Finally, Fenimore Asset Management Inc. lifted its position in shares of CBIZ by 2.9% in the 4th quarter. Fenimore Asset Management Inc. now owns 576,825 shares of the business services provider’s stock worth $8,912,000 after purchasing an additional 16,210 shares during the period. 86.54% of the stock is owned by institutional investors.
Shares of CBZ opened at $20.05 on Friday. CBIZ, Inc. has a fifty-two week low of $19.55 and a fifty-two week high of $19.65. The company has a market capitalization of $1.08 billion, a PE ratio of 23.05 and a beta of 0.71. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.61 and a quick ratio of 1.61.
CBIZ (NYSE:CBZ) last announced its quarterly earnings results on Thursday, April 26th. The business services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.06. The firm had revenue of $266.10 million during the quarter, compared to analysts’ expectations of $254.43 million. CBIZ had a net margin of 6.97% and a return on equity of 11.01%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 EPS. equities analysts expect that CBIZ, Inc. will post 1.1 EPS for the current year.
CBIZ declared that its board has approved a stock repurchase program on Wednesday, February 14th that permits the company to buyback 5,000,000 shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Several equities research analysts have recently weighed in on CBZ shares. Zacks Investment Research cut shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Thursday, February 1st. ValuEngine raised shares of CBIZ from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st.
In related news, insider Ware H. Grove sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $18.35, for a total transaction of $458,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven L. Gerard sold 109,947 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $18.13, for a total transaction of $1,993,339.11. Following the transaction, the director now owns 346,976 shares of the company’s stock, valued at approximately $6,290,674.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 135,947 shares of company stock valued at $2,471,049. 7.20% of the stock is currently owned by company insiders.
CBIZ, Inc, through its subsidiaries, provides professional business services, products, and solutions in the United States and Canada. It offers its services through three practice groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services practice group provides accounting and tax compliance and consulting, government health care consulting, financial advisory, valuation, litigation support, risk and advisory, real estate consulting, and internal audit outsourcing services.
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