Allspring Global Investments Holdings LLC Sells 264,913 Shares of CBIZ, Inc. (NYSE:CBZ)

Allspring Global Investments Holdings LLC cut its stake in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 23.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 849,054 shares of the business services provider's stock after selling 264,913 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.57% of CBIZ worth $65,360,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. McIlrath & Eck LLC lifted its position in CBIZ by 193.2% in the 4th 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 in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of CBIZ by 75.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 644 shares of the business services provider's stock valued at $53,000 after acquiring an additional 276 shares during the last quarter. Huntington National Bank grew its stake in shares of CBIZ by 9.4% in the fourth quarter. Huntington National Bank now owns 2,220 shares of the business services provider's stock worth $182,000 after acquiring an additional 191 shares during the period. ArrowMark Colorado Holdings LLC bought a new stake in shares of CBIZ in the fourth quarter worth approximately $204,000. Finally, Welch & Forbes LLC purchased a new position in shares of CBIZ during the fourth quarter valued at approximately $217,000. Hedge funds and other institutional investors own 87.44% of the company's stock.

CBIZ Stock Performance

Shares of CBZ traded up $1.32 during trading hours on Thursday, hitting $73.76. The stock had a trading volume of 262,116 shares, compared to its average volume of 370,961. The firm has a market capitalization of $4.01 billion, a PE ratio of 50.18 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, Inc. has a 12 month low of $62.66 and a 12 month high of $90.13. The stock has a fifty day moving average price of $71.19 and a 200 day moving average price of $76.80.

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. CBIZ had a return on equity of 14.83% and a net margin of 4.03%. The business had revenue of $838.01 million for the quarter, compared to analysts' expectations of $860.25 million. During the same period last year, the firm posted $1.54 earnings per share. The business's revenue for the quarter was up 69.5% on a year-over-year basis. Analysts anticipate that CBIZ, Inc. will post 2.65 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.