Burgundy Asset Management Ltd. Increases Position in CBIZ, Inc. (NYSE:CBZ)

Burgundy Asset Management Ltd. grew its position in CBIZ, Inc. (NYSE:CBZ - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,081,380 shares of the business services provider's stock after purchasing an additional 31,253 shares during the quarter. CBIZ makes up about 1.7% of Burgundy Asset Management Ltd.'s investment portfolio, making the stock its 21st largest holding. Burgundy Asset Management Ltd. owned approximately 4.15% of CBIZ worth $170,319,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. McIlrath & Eck LLC lifted its stake in CBIZ by 193.2% in the 4th quarter. McIlrath & Eck LLC now owns 557 shares of the business services provider's stock worth $46,000 after purchasing an additional 367 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of CBIZ by 75.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 644 shares of the business services provider's stock worth $53,000 after purchasing an additional 276 shares during the last quarter. VisionPoint Advisory Group LLC purchased a new stake in shares of CBIZ in the fourth quarter worth about $60,000. Venturi Wealth Management LLC bought a new position in CBIZ during the fourth quarter valued at approximately $110,000. Finally, KBC Group NV boosted its stake in CBIZ by 30.1% during the fourth quarter. KBC Group NV now owns 2,021 shares of the business services provider's stock valued at $165,000 after buying an additional 468 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

CBIZ Trading Down 1.3%

Shares of NYSE CBZ traded down $1.00 during trading hours on Wednesday, hitting $74.73. 237,052 shares of the company traded hands, compared to its average volume of 368,369. CBIZ, Inc. has a 12 month low of $62.65 and a 12 month high of $90.13. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 31.67 and a beta of 0.91. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.36. The company's 50 day moving average price is $73.45 and its 200 day moving average price is $78.37.

CBIZ (NYSE:CBZ - Get Free Report) last released 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 business had revenue of $838.01 million for the quarter, compared to analyst estimates of $860.25 million. During the same quarter last year, the firm posted $1.54 earnings per share. The business's revenue was up 69.5% compared to the same quarter last year. On average, equities research analysts anticipate that CBIZ, Inc. will post 2.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. William Blair reaffirmed an "outperform" rating on shares of CBIZ in a report on Friday, April 25th. Wall Street Zen downgraded shares of CBIZ from a "hold" rating to a "sell" rating in a research note on Tuesday, February 25th.

Insider Activity at CBIZ

In other CBIZ news, Director Benaree Pratt Wiley sold 6,526 shares of the firm'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 transaction, the director now directly owns 41,759 shares in the company, valued at $2,996,208.25. This trade represents a 13.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.95% of the stock is currently owned by company 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.