Jennison Associates LLC Acquires Shares of 6,396 CBIZ, Inc. (NYSE:CBZ)

Jennison Associates LLC acquired a new stake in CBIZ, Inc. (NYSE:CBZ - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,396 shares of the business services provider's stock, valued at approximately $485,000.

Several other institutional investors have also recently made changes to their positions in CBZ. Whittier Trust Co. purchased a new stake in shares of CBIZ during the first quarter worth about $34,000. McIlrath & Eck LLC grew its stake in shares of CBIZ by 193.2% during the fourth quarter. McIlrath & Eck LLC now owns 557 shares of the business services provider's stock worth $46,000 after acquiring an additional 367 shares during the last quarter. Olde Wealth Management LLC purchased a new stake in shares of CBIZ during the first quarter worth about $55,000. Huntington National Bank grew its stake in shares of CBIZ by 9.4% during 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 last quarter. Finally, ArrowMark Colorado Holdings LLC purchased a new stake in shares of CBIZ during the fourth quarter worth about $204,000. Hedge funds and other institutional investors own 87.44% of the company's stock.

Analyst Upgrades and Downgrades

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

CBIZ Stock Performance

Shares of NYSE:CBZ traded up $0.87 during trading on Friday, hitting $77.43. The stock had a trading volume of 174,638 shares, compared to its average volume of 415,840. 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 $4.21 billion, a price-to-earnings ratio of 52.66 and a beta of 0.91. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.76. The stock has a 50-day simple moving average of $72.13 and a two-hundred day simple moving average of $75.97.

CBIZ (NYSE:CBZ - Get Free Report) last posted its earnings results on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, topping the consensus estimate of $2.11 by $0.18. The firm had revenue of $838.01 million for the quarter, compared to analyst estimates of $860.25 million. CBIZ had a return on equity of 14.83% and a net margin of 4.03%. CBIZ's revenue for the quarter was up 69.5% compared to the same quarter last year. During the same period last year, the company earned $1.54 earnings per share. On average, equities research analysts expect that CBIZ, Inc. will post 2.65 earnings per share for the current fiscal year.

CBIZ Company Profile

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.