Fmr LLC raised its stake in CBIZ, Inc. (NYSE:CBZ) by 49.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,756,052 shares of the business services provider’s stock after purchasing an additional 2,234,269 shares during the quarter. Fmr LLC owned about 12.21% of CBIZ worth $155,389,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of CBZ. Bank of New York Mellon Corp boosted its stake in CBIZ by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 379,650 shares of the business services provider’s stock valued at $8,732,000 after purchasing an additional 3,870 shares during the period. California Public Employees Retirement System boosted its stake in CBIZ by 14.6% during the 2nd quarter. California Public Employees Retirement System now owns 125,611 shares of the business services provider’s stock valued at $2,889,000 after purchasing an additional 15,990 shares during the period. Macquarie Group Ltd. boosted its stake in CBIZ by 89.6% during the 2nd quarter. Macquarie Group Ltd. now owns 9,976 shares of the business services provider’s stock valued at $229,000 after purchasing an additional 4,715 shares during the period. Renaissance Technologies LLC boosted its stake in CBIZ by 20.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,007,126 shares of the business services provider’s stock valued at $23,164,000 after purchasing an additional 170,200 shares during the period. Finally, BlueMountain Capital Management LLC acquired a new position in CBIZ during the 2nd quarter valued at about $420,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have issued reports on CBZ. Zacks Investment Research raised shares of CBIZ from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. William Blair began coverage on shares of CBIZ in a research note on Monday, September 17th. They set an “outperform” rating for the company.
In other news, insider Michael W. Gleespen sold 27,000 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $23.42, for a total value of $632,340.00. Following the completion of the sale, the insider now directly owns 118,880 shares of the company’s stock, valued at approximately $2,784,169.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Spurio sold 35,841 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $23.81, for a total transaction of $853,374.21. Following the completion of the sale, the insider now directly owns 209,917 shares of the company’s stock, valued at $4,998,123.77. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,841 shares of company stock valued at $2,414,914. Company insiders own 7.20% of the company’s stock.
Shares of NYSE:CBZ opened at $22.11 on Monday. The company has a market capitalization of $1.22 billion, a PE ratio of 25.41 and a beta of 0.62. CBIZ, Inc. has a twelve month low of $14.35 and a twelve month high of $24.38. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.28.
CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Wednesday, October 31st. The business services provider reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $224.25 million during the quarter, compared to analyst estimates of $218.67 million. CBIZ had a net margin of 7.34% and a return on equity of 11.30%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 EPS. Equities analysts forecast that CBIZ, Inc. will post 1.08 earnings per share for the current year.
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, litigation support, federal and state governmental healthcare compliance, valuation services, real estate consulting, and internal audit outsourcing services.
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