Dimensional Fund Advisors LP Decreases Stake in CBIZ, Inc. $CBZ

Key Points

• Dimensional Fund Advisors reduced its CBIZ stake by 7.3% in the first quarter, selling 42,833 shares and retaining 546,850 shares worth approximately $14.7 million. Institutional investors collectively own 87.44% of the company.
• CBIZ reported quarterly earnings of $0.91 per share, surpassing the $0.72 consensus estimate, while revenue of $682.2 million fell short of expectations and declined slightly year over year.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and average price target of $44.50, below the reported share price of $54.52; the stock has gained 0.1% and trades between a 52-week range of $24.29 to $67.24.

Dimensional Fund Advisors LP lowered its stake in CBIZ, Inc. (NYSE:CBZ - Free Report) by 7.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 546,850 shares of the business services provider's stock after selling 42,833 shares during the quarter. Dimensional Fund Advisors LP owned 1.02% of CBIZ worth $14,683,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CBZ. AQR Capital Management LLC increased its stake in shares of CBIZ by 6.2% in the first quarter. AQR Capital Management LLC now owns 11,725 shares of the business services provider's stock worth $889,000 after buying an additional 682 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in CBIZ by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,294 shares of the business services provider's stock valued at $2,222,000 after buying an additional 1,318 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in CBIZ by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,270 shares of the business services provider's stock worth $10,868,000 after acquiring an additional 7,676 shares during the last quarter. Jane Street Group LLC increased its position in shares of CBIZ by 96.1% in the first quarter. Jane Street Group LLC now owns 41,240 shares of the business services provider's stock valued at $3,128,000 after acquiring an additional 20,214 shares during the period. Finally, Prudential Financial Inc. raised its stake in shares of CBIZ by 80.4% during the second quarter. Prudential Financial Inc. now owns 6,637 shares of the business services provider's stock valued at $492,000 after acquiring an additional 2,957 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.

CBIZ Stock Up 0.1%

Shares of NYSE:CBZ opened at $54.52 on Friday. The firm has a market capitalization of $2.96 billion, a P/E ratio of 25.48, a P/E/G ratio of 1.14 and a beta of 0.93. 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 price of $39.00 and a 200-day moving average price of $33.81. CBIZ, Inc. has a 52-week low of $24.29 and a 52-week high of $67.24.

CBIZ (NYSE:CBZ - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.19. The company 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 firm's revenue was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 earnings per share. As a group, equities research analysts anticipate that CBIZ, Inc. will post 4.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on CBZ shares. CJS Securities cut CBIZ from a "market outperform" rating to a "market perform" rating and set a $55.00 target price on the stock. in a research note on Thursday, July 30th. Stephens set a $37.00 target price on CBIZ in a research note on Friday, May 1st. Barrington Research started coverage on CBIZ in a report on Wednesday, June 24th. They set an "outperform" rating and a $45.00 target price for the company. Weiss Ratings raised shares of CBIZ from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 28th. Finally, US Capital Advisors set a $55.00 price objective on shares of CBIZ in a report on Thursday, July 30th. Three equities research 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 stock currently has a consensus rating of "Hold" and an average price target of $44.50.

CBIZ Profile

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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