Fenimore Asset Management Inc. Grows Stake in CBIZ, Inc. (CBZ)

Fenimore Asset Management Inc. lifted its position in CBIZ, Inc. (NYSE:CBZ) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 524,230 shares of the business services provider’s stock after buying an additional 13,500 shares during the period. Fenimore Asset Management Inc.’s holdings in CBIZ were worth $10,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in CBZ. FMR LLC boosted its stake in shares of CBIZ by 49.4% in the 2nd quarter. FMR LLC now owns 6,756,052 shares of the business services provider’s stock worth $155,389,000 after buying an additional 2,234,269 shares during the last quarter. BlackRock Inc. boosted its stake in shares of CBIZ by 11.0% in the 2nd quarter. BlackRock Inc. now owns 3,701,179 shares of the business services provider’s stock worth $85,129,000 after buying an additional 366,511 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of CBIZ by 20.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,007,126 shares of the business services provider’s stock worth $23,164,000 after buying an additional 170,200 shares during the last quarter. United Services Automobile Association boosted its stake in shares of CBIZ by 68.8% in the 2nd quarter. United Services Automobile Association now owns 263,305 shares of the business services provider’s stock worth $6,056,000 after buying an additional 107,349 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of CBIZ by 61.3% in the 3rd quarter. Morgan Stanley now owns 257,680 shares of the business services provider’s stock worth $6,107,000 after buying an additional 97,968 shares during the last quarter. Hedge funds and other institutional investors own 87.33% of the company’s stock.

In related news, insider Michael W. Gleespen sold 54,682 shares of the firm’s stock in a transaction on Monday, January 7th. The stock was sold at an average price of $20.01, for a total value of $1,094,186.82. Following the transaction, the insider now directly owns 65,870 shares of the company’s stock, valued at approximately $1,318,058.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael W. Gleespen sold 44,010 shares of the firm’s stock in a transaction on Friday, January 4th. The stock was sold at an average price of $20.01, for a total value of $880,640.10. Following the completion of the transaction, the insider now directly owns 65,870 shares in the company, valued at $1,318,058.70. The disclosure for this sale can be found here. 7.20% of the stock is currently owned by company insiders.

CBZ has been the topic of a number of research reports. William Blair initiated coverage on CBIZ in a research note on Monday, September 17th. They issued an “outperform” rating on the stock. Zacks Investment Research downgraded CBIZ from a “hold” rating to a “sell” rating in a research note on Monday, September 24th.

CBIZ stock traded up $0.04 during trading on Friday, reaching $20.24. The company had a trading volume of 3,388 shares, compared to its average volume of 199,428. CBIZ, Inc. has a 52 week low of $15.55 and a 52 week high of $24.38. The stock has a market cap of $1.13 billion, a P/E ratio of 23.25 and a beta of 0.62. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.50 and a current ratio of 1.50.

CBIZ (NYSE:CBZ) last announced its earnings results on Wednesday, October 31st. The business services provider reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. CBIZ had a return on equity of 11.30% and a net margin of 7.34%. The company had revenue of $224.25 million for the quarter, compared to analysts’ expectations of $218.67 million. During the same period last year, the firm earned $0.18 EPS. CBIZ’s revenue for the quarter was up 8.0% compared to the same quarter last year. Analysts predict that CBIZ, Inc. will post 1.08 EPS for the current year.

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CBIZ Company Profile

CBIZ, Inc provides professional business services that help its clients manage their finances, employees, and insurance needs. It offers its services through three practice groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services practice group provides accounting, tax, financial advisory, government healthcare consulting, and risk advisory and valuation services.

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Institutional Ownership by Quarter for CBIZ (NYSE:CBZ)

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