Burgundy Asset Management Ltd. Purchases 31,253 Shares of CBIZ, Inc. (NYSE:CBZ)

Burgundy Asset Management Ltd. increased its position in CBIZ, Inc. (NYSE:CBZ - Free Report) by 1.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,081,380 shares of the business services provider's stock after acquiring an additional 31,253 shares during the quarter. CBIZ comprises approximately 1.7% of Burgundy Asset Management Ltd.'s holdings, making the stock its 21st biggest position. Burgundy Asset Management Ltd. owned about 4.15% of CBIZ worth $170,319,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CBZ. Invesco Ltd. increased its holdings in CBIZ by 157.2% in the 4th quarter. Invesco Ltd. now owns 769,209 shares of the business services provider's stock worth $62,944,000 after acquiring an additional 470,095 shares in the last quarter. Wellington Management Group LLP purchased a new stake in CBIZ in the 4th quarter worth approximately $32,859,000. Capital World Investors increased its holdings in CBIZ by 37.6% in the 4th quarter. Capital World Investors now owns 1,134,585 shares of the business services provider's stock worth $92,843,000 after acquiring an additional 309,785 shares in the last quarter. Waters Parkerson & CO. LLC purchased a new stake in CBIZ in the 4th quarter worth approximately $23,383,000. Finally, SG Capital Management LLC purchased a new stake in CBIZ in the 4th quarter worth approximately $20,543,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

CBIZ Price Performance

CBZ stock traded up $3.85 during midday trading on Tuesday, hitting $75.78. The company's stock had a trading volume of 622,280 shares, compared to its average volume of 347,922. CBIZ, Inc. has a 12 month low of $62.66 and a 12 month 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 firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 32.11 and a beta of 0.91. The company has a 50 day moving average of $73.39 and a two-hundred day moving average of $78.39.

CBIZ (NYSE:CBZ - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.18. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. The business had revenue of $838.01 million during the quarter, compared to the consensus estimate of $860.25 million. During the same period in the prior year, the company posted $1.54 EPS. The firm's revenue for the quarter was up 69.5% compared to the same quarter last year. On average, analysts expect that CBIZ, Inc. will post 2.65 EPS for the current year.

Wall Street Analysts Forecast Growth

CBZ has been the subject of several analyst reports. William Blair reissued an "outperform" rating on shares of CBIZ in a report on Friday, April 25th. Wall Street Zen downgraded CBIZ from a "hold" rating to a "sell" rating in a research note on Tuesday, February 25th.

Insiders Place Their Bets

In other news, Director Benaree Pratt Wiley sold 6,526 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 41,759 shares in the company, valued at approximately $2,996,208.25. This represents a 13.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.95% of the stock is currently owned by corporate insiders.

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.