Laurus Global Equity Management Inc. Cuts Stock Position in CBIZ, Inc. (NYSE:CBZ)

Laurus Global Equity Management Inc. lessened its stake in CBIZ, Inc. (NYSE:CBZ - Free Report) by 51.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,020 shares of the business services provider's stock after selling 14,870 shares during the quarter. CBIZ makes up about 0.7% of Laurus Global Equity Management Inc.'s portfolio, making the stock its 28th biggest holding. Laurus Global Equity Management Inc.'s holdings in CBIZ were worth $1,064,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CBZ. Charles Schwab Investment Management Inc. increased its holdings in CBIZ by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 535,880 shares of the business services provider's stock worth $43,851,000 after acquiring an additional 10,550 shares in the last quarter. Victory Capital Management Inc. boosted its stake in CBIZ by 22.9% during the 4th quarter. Victory Capital Management Inc. now owns 58,898 shares of the business services provider's stock worth $4,820,000 after purchasing an additional 10,955 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in CBIZ during the 4th quarter worth $3,824,000. Arizona State Retirement System boosted its stake in CBIZ by 1.0% during the 4th quarter. Arizona State Retirement System now owns 13,112 shares of the business services provider's stock worth $1,073,000 after purchasing an additional 125 shares during the last quarter. Finally, Great Lakes Advisors LLC boosted its stake in CBIZ by 92.4% during the 4th quarter. Great Lakes Advisors LLC now owns 46,307 shares of the business services provider's stock worth $3,789,000 after purchasing an additional 22,238 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.

CBIZ Trading Down 1.4%

Shares of CBZ stock opened at $72.15 on Friday. The company's 50-day moving average price is $71.92 and its 200-day moving average price is $76.42. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.76. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 49.08 and a beta of 0.91. CBIZ, Inc. has a twelve month low of $62.66 and a twelve month high of $90.13.

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

Analyst Ratings Changes

Separately, William Blair reaffirmed an "outperform" rating on shares of CBIZ in a research note 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.

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