CBIZ, Inc. (NYSE:CBZ) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE increased its stake in CBIZ, Inc. (NYSE:CBZ - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 431,750 shares of the business services provider's stock after acquiring an additional 14,006 shares during the period. Bank of America Corp DE owned about 0.86% of CBIZ worth $35,330,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Basswood Capital Management L.L.C. purchased a new stake in CBIZ in the fourth quarter worth $3,302,000. Ameriprise Financial Inc. increased its holdings in shares of CBIZ by 24.9% in the fourth quarter. Ameriprise Financial Inc. now owns 54,518 shares of the business services provider's stock worth $4,461,000 after purchasing an additional 10,861 shares during the last quarter. ArrowMark Colorado Holdings LLC purchased a new stake in CBIZ during the fourth quarter valued at $204,000. Comerica Bank boosted its holdings in shares of CBIZ by 16.9% in the 4th quarter. Comerica Bank now owns 9,556 shares of the business services provider's stock worth $782,000 after purchasing an additional 1,379 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of CBIZ by 0.7% during the 4th quarter. Northern Trust Corp now owns 940,717 shares of the business services provider's stock worth $76,979,000 after purchasing an additional 6,540 shares during the period. 87.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CBZ has been the subject of several research reports. StockNews.com cut CBIZ from a "hold" rating to a "sell" rating in a report on Tuesday, February 25th. William Blair reiterated an "outperform" rating on shares of CBIZ in a research note on Friday, April 25th.

Insider Transactions at CBIZ

In other news, Director Benaree Pratt Wiley sold 6,526 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $71.75, for a total transaction of $468,240.50. Following the completion of the transaction, the director now directly owns 41,759 shares of the company's stock, valued at $2,996,208.25. This trade represents a 13.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.95% of the company's stock.

CBIZ Price Performance

CBZ traded up $0.07 on Monday, hitting $74.20. 194,920 shares of the company's stock were exchanged, compared to its average volume of 346,164. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $73.14 and a 200-day moving average price of $78.46. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 31.44 and a beta of 0.91. CBIZ, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $90.13.

CBIZ (NYSE:CBZ - Get Free Report) last released its earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.18. The company had revenue of $838.01 million during the quarter, compared to the consensus estimate of $860.25 million. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. CBIZ's revenue was up 69.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.54 EPS. As a group, equities analysts anticipate that CBIZ, Inc. will post 2.65 earnings per share for the current year.

About CBIZ

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through Financial Services, Benefits and Insurance Services, and National Practices segments. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.