Royce & Associates LP lessened its holdings in CBIZ, Inc. (NYSE:CBZ – Get Rating) by 29.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,591 shares of the business services provider's stock after selling 5,950 shares during the period. Royce & Associates LP's holdings in CBIZ were worth $624,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in shares of CBIZ by 317.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,237,443 shares of the business services provider's stock valued at $51,935,000 after buying an additional 941,076 shares during the period. Price T Rowe Associates Inc. MD increased its position in CBIZ by 1,456.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 542,015 shares of the business services provider's stock worth $21,659,000 after purchasing an additional 507,190 shares during the last quarter. Eaton Vance Management increased its position in CBIZ by 14.3% during the first quarter. Eaton Vance Management now owns 2,923,896 shares of the business services provider's stock worth $122,716,000 after purchasing an additional 364,887 shares during the last quarter. Victory Capital Management Inc. increased its position in CBIZ by 19.4% during the second quarter. Victory Capital Management Inc. now owns 1,941,467 shares of the business services provider's stock worth $77,581,000 after purchasing an additional 315,309 shares during the last quarter. Finally, BloombergSen Inc. increased its position in CBIZ by 48.3% during the second quarter. BloombergSen Inc. now owns 718,418 shares of the business services provider's stock worth $28,708,000 after purchasing an additional 233,909 shares during the last quarter. Hedge funds and other institutional investors own 88.74% of the company's stock.
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Insider Activity
In other CBIZ news, insider Ware H. Grove sold 1,401 shares of the stock in a transaction on Monday, October 31st. The shares were sold at an average price of $50.00, for a total transaction of $70,050.00. Following the sale, the insider now directly owns 257,844 shares of the company's stock, valued at $12,892,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CBIZ news, insider Ware H. Grove sold 8,000 shares of the company's stock in a transaction dated Friday, November 25th. The shares were sold at an average price of $50.16, for a total value of $401,280.00. Following the completion of the transaction, the insider now owns 257,844 shares in the company, valued at approximately $12,933,455.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ware H. Grove sold 1,401 shares of CBIZ stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $50.00, for a total value of $70,050.00. Following the sale, the insider now directly owns 257,844 shares in the company, valued at approximately $12,892,200. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,401 shares of company stock worth $1,474,330. 6.80% of the stock is currently owned by corporate insiders.
CBIZ Price Performance
CBIZ stock opened at $47.04 on Friday. CBIZ, Inc. has a 52-week low of $35.46 and a 52-week high of $51.67. The firm has a fifty day moving average of $48.00 and a 200-day moving average of $46.00. The firm has a market capitalization of $2.39 billion, a P/E ratio of 23.06 and a beta of 0.76. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.
CBIZ (NYSE:CBZ – Get Rating) last announced its earnings results on Thursday, October 27th. The business services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.05. The business had revenue of $363.26 million during the quarter, compared to the consensus estimate of $335.30 million. CBIZ had a net margin of 7.89% and a return on equity of 14.94%. As a group, analysts predict that CBIZ, Inc. will post 2.11 EPS for the current year.
Wall Street Analyst Weigh In
Separately, StockNews.com began coverage on shares of CBIZ in a research report on Wednesday, October 12th. They issued a "hold" rating for the company.
CBIZ Company Profile
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CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. The company operates through three segments: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.
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- Get a free copy of the StockNews.com research report on CBIZ (CBZ)
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