Emmett Investment Management LP Takes $4.40 Million Position in CBIZ, Inc. (NYSE:CBZ)

Emmett Investment Management LP acquired a new position in CBIZ, Inc. (NYSE:CBZ - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 53,782 shares of the business services provider's stock, valued at approximately $4,401,000. CBIZ accounts for about 4.0% of Emmett Investment Management LP's portfolio, making the stock its 11th biggest position. Emmett Investment Management LP owned about 0.11% of CBIZ at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royce & Associates LP lifted its stake in 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 buying an additional 13,738 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in CBIZ by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 535,880 shares of the business services provider's stock valued at $43,851,000 after buying an additional 10,550 shares during the period. Principal Financial Group Inc. lifted its stake in CBIZ by 13.1% in 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 buying an additional 3,663 shares during the period. King Luther Capital Management Corp lifted its stake in CBIZ by 11.3% in the fourth quarter. King Luther Capital Management Corp now owns 82,135 shares of the business services provider's stock valued at $6,721,000 after buying an additional 8,365 shares during the period. Finally, Bridge City Capital LLC lifted its stake in CBIZ by 8.3% in the fourth quarter. Bridge City Capital LLC now owns 84,479 shares of the business services provider's stock valued at $6,913,000 after buying an additional 6,451 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CBZ. William Blair reissued an "outperform" rating on shares of CBIZ in a research note on Friday, April 25th. StockNews.com lowered CBIZ from a "hold" rating to a "sell" rating in a research note on Tuesday, February 25th.

CBIZ Stock Down 0.2%

Shares of NYSE:CBZ traded down $0.17 during trading on Friday, reaching $72.42. 237,006 shares of the stock were exchanged, compared to its average volume of 345,221. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 1.49. CBIZ, Inc. has a 1-year low of $62.66 and a 1-year high of $90.13. The stock has a fifty day moving average of $72.94 and a two-hundred day moving average of $78.30. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 30.69 and a beta of 0.91.

CBIZ (NYSE:CBZ - Get Free Report) last issued its earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share 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 company had revenue of $838.01 million for the quarter, compared to analyst estimates of $860.25 million. During the same period in the prior year, the firm earned $1.54 earnings per share. CBIZ's revenue for the quarter was up 69.5% on a year-over-year basis. Research analysts anticipate that CBIZ, Inc. will post 2.65 earnings per share for the current fiscal 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.