Capital World Investors Increases Stake in CBIZ, Inc. (NYSE:CBZ)

Capital World Investors lifted its holdings in CBIZ, Inc. (NYSE:CBZ - Free Report) by 37.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,134,585 shares of the business services provider's stock after purchasing an additional 309,785 shares during the quarter. Capital World Investors owned 2.26% of CBIZ worth $92,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Arizona State Retirement System raised its stake in shares of CBIZ by 1.0% in the fourth quarter. Arizona State Retirement System now owns 13,112 shares of the business services provider's stock worth $1,073,000 after purchasing an additional 125 shares during the last quarter. Corient Private Wealth LLC increased its position in CBIZ by 1.4% during the fourth quarter. Corient Private Wealth LLC now owns 9,510 shares of the business services provider's stock valued at $778,000 after acquiring an additional 128 shares during the last quarter. Kensington Investment Counsel LLC increased its position in CBIZ by 0.7% during the fourth quarter. Kensington Investment Counsel LLC now owns 20,211 shares of the business services provider's stock valued at $1,654,000 after acquiring an additional 132 shares during the last quarter. SG Americas Securities LLC increased its position in CBIZ by 7.2% during the fourth quarter. SG Americas Securities LLC now owns 2,536 shares of the business services provider's stock valued at $208,000 after acquiring an additional 170 shares during the last quarter. Finally, Huntington National Bank increased its position in CBIZ by 9.4% during the fourth quarter. Huntington National Bank now owns 2,220 shares of the business services provider's stock valued at $182,000 after acquiring an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. William Blair reiterated an "outperform" rating on shares of CBIZ in a research report on Friday. StockNews.com cut CBIZ from a "hold" rating to a "sell" rating in a research report on Tuesday, February 25th.

Insider Buying and Selling

In related news, Director Benaree Pratt Wiley sold 6,526 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $71.75, for a total value of $468,240.50. Following the completion of the sale, the director now directly owns 41,759 shares of the company's stock, valued at approximately $2,996,208.25. This represents a 13.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.95% of the stock is currently owned by insiders.

CBIZ Stock Performance

Shares of NYSE CBZ traded down $0.21 during trading on Friday, hitting $66.21. The company had a trading volume of 1,070,905 shares, compared to its average volume of 337,990. CBIZ, Inc. has a 12 month low of $62.66 and a 12 month high of $90.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a market capitalization of $3.58 billion, a P/E ratio of 28.06 and a beta of 0.90. The stock has a 50 day simple moving average of $75.21 and a 200 day simple moving average of $78.04.

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 (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.16. The company had revenue of $838.01 million during the quarter, compared to analyst estimates of $860.25 million. CBIZ had a net margin of 7.08% and a return on equity of 15.12%. During the same period in the prior year, the firm posted $1.54 EPS. As a group, analysts anticipate that CBIZ, Inc. will post 2.65 earnings per share for the current year.

CBIZ Profile

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.