BloombergSen Inc. Sells 17,952 Shares of CBIZ, Inc. (NYSE:CBZ)

Key Points

• BloombergSen Inc. reduced its stake in CBIZ, Inc. by 1.7%, selling 17,952 shares, and now holds approximately 1,022,380 shares, worth about $77.56 million.
• CBIZ's latest quarterly earnings report showed an EPS of $2.29, exceeding analysts' expectations, with a revenue increase of 69.5% compared to the prior year.
• Institutional investors hold 87.44% of CBIZ's stock, indicating strong investor interest and confidence in the company.

BloombergSen Inc. lessened its holdings in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,022,380 shares of the business services provider's stock after selling 17,952 shares during the quarter. CBIZ makes up about 4.8% of BloombergSen Inc.'s portfolio, making the stock its 11th biggest holding. BloombergSen Inc. owned approximately 1.88% of CBIZ worth $77,558,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whittier Trust Co. purchased a new stake in CBIZ during the first quarter worth about $34,000. McIlrath & Eck LLC lifted its holdings in CBIZ by 193.2% in the fourth quarter. McIlrath & Eck LLC now owns 557 shares of the business services provider's stock valued at $46,000 after acquiring an additional 367 shares during the period. Olde Wealth Management LLC purchased a new stake in CBIZ in the 1st quarter valued at about $55,000. Assetmark Inc. grew its holdings in CBIZ by 19.9% in the 1st quarter. Assetmark Inc. now owns 905 shares of the business services provider's stock valued at $69,000 after buying an additional 150 shares during the period. Finally, Huntington National Bank grew its holdings in shares of CBIZ by 9.4% during the 4th quarter. Huntington National Bank now owns 2,220 shares of the business services provider's stock worth $182,000 after purchasing an additional 191 shares during the period. Institutional investors and hedge funds own 87.44% of the company's stock.

Analyst Upgrades and Downgrades

Separately, William Blair reaffirmed an "outperform" rating on shares of CBIZ in a research report on Friday, April 25th.

CBIZ Stock Up 1.5%

NYSE CBZ traded up $1.16 during trading on Friday, reaching $77.72. 352,874 shares of the company's stock were exchanged, compared to its average volume of 539,694. CBIZ, Inc. has a fifty-two week low of $62.65 and a fifty-two week high of $90.13. The firm has a market capitalization of $4.23 billion, a PE ratio of 52.87 and a beta of 0.91. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.76. The company's fifty day simple moving average is $72.28 and its 200-day simple moving average is $75.92.

CBIZ (NYSE:CBZ - Get Free Report) last announced its quarterly earnings data 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 14.83% and a net margin of 4.03%. The firm had revenue of $838.01 million during the quarter, compared to analyst estimates of $860.25 million. During the same period last year, the company posted $1.54 EPS. The business's quarterly revenue was up 69.5% compared to the same quarter last year. Sell-side analysts predict that CBIZ, Inc. will post 2.65 EPS for the current year.

CBIZ Company 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.