Price T Rowe Associates Inc. MD Reduces Position in CBIZ, Inc. (NYSE:CBZ)

Price T Rowe Associates Inc. MD cut its holdings in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 14.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 649,314 shares of the business services provider's stock after selling 109,196 shares during the period. Price T Rowe Associates Inc. MD owned approximately 1.29% of CBIZ worth $53,135,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Royce & Associates LP lifted its holdings in shares of CBIZ by 7.0% in the fourth quarter. Royce & Associates LP now owns 208,919 shares of the business services provider's stock valued at $17,096,000 after purchasing an additional 13,738 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of CBIZ by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 535,880 shares of the business services provider's stock worth $43,851,000 after acquiring an additional 10,550 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of CBIZ by 10.3% in the third quarter. Retirement Systems of Alabama now owns 86,194 shares of the business services provider's stock valued at $5,800,000 after purchasing an additional 8,032 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of CBIZ by 13.1% during the fourth quarter. Principal Financial Group Inc. now owns 31,523 shares of the business services provider's stock valued at $2,580,000 after purchasing an additional 3,663 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its stake in shares of CBIZ by 11.3% in the 4th quarter. King Luther Capital Management Corp now owns 82,135 shares of the business services provider's stock worth $6,721,000 after buying an additional 8,365 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CBZ shares. William Blair reaffirmed an "outperform" rating on shares of CBIZ in a research report on Friday, April 25th. StockNews.com lowered CBIZ from a "hold" rating to a "sell" rating in a report on Tuesday, February 25th.

Insiders Place Their Bets

In related 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 value of $468,240.50. Following the sale, the director now owns 41,759 shares in the company, valued at approximately $2,996,208.25. This trade represents a 13.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.95% of the company's stock.

CBIZ Stock Up 1.1 %

Shares of NYSE:CBZ traded up $0.77 during midday trading on Monday, reaching $72.56. The company's stock had a trading volume of 45,201 shares, compared to its average volume of 377,614. The firm has a 50 day moving average of $73.55 and a 200-day moving average of $78.12. CBIZ, Inc. has a 12-month low of $62.65 and a 12-month high of $90.13. The firm has a market capitalization of $3.95 billion, a P/E ratio of 30.66 and a beta of 0.90. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.36.

CBIZ (NYSE:CBZ - Get Free Report) last released its earnings results on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, topping analysts' consensus estimates of $2.11 by $0.18. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. The firm had revenue of $838.01 million for the quarter, compared to analysts' expectations of $860.25 million. The company's quarterly revenue was up 69.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.54 earnings per share. On average, research 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.