Envestnet Asset Management Inc. Grows Stock Position in CBIZ, Inc. (NYSE:CBZ)

Envestnet Asset Management Inc. raised its position in CBIZ, Inc. (NYSE:CBZ - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 74,964 shares of the business services provider's stock after acquiring an additional 4,145 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.15% of CBIZ worth $6,134,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Royce & Associates LP raised its holdings in CBIZ by 7.0% in the 4th quarter. Royce & Associates LP now owns 208,919 shares of the business services provider's stock worth $17,096,000 after purchasing an additional 13,738 shares during the period. Charles Schwab Investment Management Inc. increased its position 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 worth $43,851,000 after buying an additional 10,550 shares in the last quarter. Retirement Systems of Alabama raised its stake 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 worth $5,800,000 after buying an additional 8,032 shares during the period. Principal Financial Group Inc. lifted its position in shares of CBIZ by 13.1% during the 4th 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 in the last quarter. Finally, King Luther Capital Management Corp grew its stake in shares of CBIZ by 11.3% during the 4th quarter. King Luther Capital Management Corp now owns 82,135 shares of the business services provider's stock valued at $6,721,000 after acquiring an additional 8,365 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

CBIZ Price Performance

NYSE CBZ traded down $0.21 during trading hours on Friday, reaching $66.21. The company's stock had a trading volume of 1,070,905 shares, compared to its average volume of 337,923. CBIZ, Inc. has a 1 year low of $62.66 and a 1 year high of $90.13. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 28.06 and a beta of 0.90. The firm's 50-day moving average price is $75.21 and its 200-day moving average price is $77.86.

CBIZ (NYSE:CBZ - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, beating the consensus estimate of $2.13 by $0.16. CBIZ had a net margin of 7.08% and a return on equity of 15.12%. The business had revenue of $838.01 million during the quarter, compared to the consensus estimate of $860.25 million. During the same quarter in the prior year, the firm earned $1.54 EPS. On average, equities research analysts predict that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Insider Buying and Selling at CBIZ

In other CBIZ news, Director Benaree Pratt Wiley sold 6,526 shares of CBIZ stock in a transaction 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 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 filing with the SEC, which is available at this link. 4.95% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.