BloombergSen Inc. Lowers Holdings in 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 stake in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,022,380 shares of the business services provider's stock after selling 17,952 shares during the quarter. CBIZ makes up approximately 4.8% of BloombergSen Inc.'s portfolio, making the stock its 11th biggest position. BloombergSen Inc. owned 1.88% of CBIZ worth $77,558,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Corient Private Wealth LLC lifted its stake in CBIZ by 1.4% in the fourth quarter. Corient Private Wealth LLC now owns 9,510 shares of the business services provider's stock worth $778,000 after acquiring an additional 128 shares during the period. Xponance Inc. lifted its stake in CBIZ by 9.6% in the fourth quarter. Xponance Inc. now owns 3,425 shares of the business services provider's stock worth $280,000 after acquiring an additional 299 shares during the period. Teacher Retirement System of Texas purchased a new stake in CBIZ in the fourth quarter worth $484,000. Sei Investments Co. lifted its stake in CBIZ by 1.5% in the fourth quarter. Sei Investments Co. now owns 37,401 shares of the business services provider's stock worth $3,061,000 after acquiring an additional 549 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in CBIZ in the fourth quarter worth $769,000. Hedge funds and other institutional investors own 87.44% of the company's stock.

Analysts Set New Price Targets

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

CBIZ Stock Performance

NYSE CBZ traded down $0.10 during trading hours on Monday, hitting $77.71. The company's stock had a trading volume of 112,867 shares, compared to its average volume of 414,959. CBIZ, Inc. has a 12 month low of $62.65 and a 12 month high of $90.13. The company's 50 day simple moving average is $72.28 and its two-hundred day simple moving average is $75.83. The company has a market cap of $4.23 billion, a P/E ratio of 52.88 and a beta of 0.91. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.52 and a quick ratio of 1.52.

CBIZ (NYSE:CBZ - Get Free Report) last announced 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 $2.11 by $0.18. The business had revenue of $838.01 million for the quarter, compared to analysts' expectations of $860.25 million. CBIZ had a return on equity of 14.83% and a net margin of 4.03%. The business's revenue for the quarter was up 69.5% on a year-over-year basis. During the same period last year, the firm posted $1.54 earnings per share. As a group, sell-side analysts expect that CBIZ, Inc. will post 2.65 EPS for the current fiscal 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.