CBIZ, Inc. $CBZ Shares Bought by Quantinno Capital Management LP

Key Points

• Quantinno Capital Management LP increased its CBIZ stake by 543.8% in the first quarter, adding 147,820 shares to own 175,005 shares valued at approximately $4.7 million. Institutional investors collectively hold 87.44% of CBIZ’s stock.
• CBIZ reported quarterly EPS of $0.91, beating analyst expectations of $0.72, while revenue came in at $682.21 million, slightly below estimates and down 0.2% year over year.
• Analyst sentiment remains cautious: CBIZ has a consensus “Hold” rating and an average price target of $44.50, below the reported share price of $54.47.

Quantinno Capital Management LP raised its position in CBIZ, Inc. (NYSE:CBZ - Free Report) by 543.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 175,005 shares of the business services provider's stock after buying an additional 147,820 shares during the period. Quantinno Capital Management LP owned about 0.33% of CBIZ worth $4,699,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Balyasny Asset Management L.P. grew its position in shares of CBIZ by 4.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 4,969 shares of the business services provider's stock valued at $356,000 after acquiring an additional 230 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in CBIZ by 0.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,529 shares of the business services provider's stock worth $2,117,000 after purchasing an additional 235 shares during the period. Corient Private Wealth LLC boosted its position in CBIZ by 4.4% during the second quarter. Corient Private Wealth LLC now owns 9,747 shares of the business services provider's stock worth $694,000 after purchasing an additional 408 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in CBIZ by 10.5% in the first quarter. PNC Financial Services Group Inc. now owns 4,540 shares of the business services provider's stock valued at $122,000 after purchasing an additional 430 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in CBIZ by 377.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 559 shares of the business services provider's stock valued at $30,000 after purchasing an additional 442 shares during the period. Institutional investors and hedge funds own 87.44% of the company's stock.

CBIZ Trading Down 0.6%

Shares of CBIZ stock opened at $54.47 on Friday. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 1.15 and a beta of 0.93. CBIZ, Inc. has a fifty-two week low of $24.29 and a fifty-two week high of $67.24. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.63 and a current ratio of 1.47. The stock has a 50 day moving average of $38.57 and a 200 day moving average of $33.66.

CBIZ (NYSE:CBZ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.72 by $0.19. The business had revenue of $682.21 million for the quarter, compared to analyst estimates of $697.96 million. CBIZ had a return on equity of 12.33% and a net margin of 4.73%.The company's quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 EPS. As a group, research analysts predict that CBIZ, Inc. will post 4.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $42.00 target price on shares of CBIZ in a research report on Thursday, April 30th. US Capital Advisors set a $55.00 price objective on shares of CBIZ in a research report on Thursday, July 30th. CJS Securities downgraded shares of CBIZ from a "market outperform" rating to a "market perform" rating and set a $55.00 price objective on the stock. in a report on Thursday, July 30th. Stephens set a $37.00 price target on shares of CBIZ in a research report on Friday, May 1st. Finally, Barrington Research started coverage on shares of CBIZ in a research note on Wednesday, June 24th. They issued an "outperform" rating and a $45.00 price target on the stock. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $44.50.

About CBIZ

CBIZ, Inc NYSE: CBZ, founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.

Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.

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