CBIZ, Inc. (NYSE:CBZ) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management cut its holdings in CBIZ, Inc. (NYSE:CBZ - Free Report) by 44.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,234 shares of the business services provider's stock after selling 4,984 shares during the period. Meritage Portfolio Management's holdings in CBIZ were worth $473,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CBZ. Invesco Ltd. lifted its holdings in CBIZ by 157.2% in the fourth quarter. Invesco Ltd. now owns 769,209 shares of the business services provider's stock worth $62,944,000 after acquiring an additional 470,095 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of CBIZ during the 4th quarter worth approximately $32,859,000. Capital World Investors lifted its holdings in shares of CBIZ by 37.6% in the 4th quarter. Capital World Investors now owns 1,134,585 shares of the business services provider's stock worth $92,843,000 after purchasing an additional 309,785 shares during the last quarter. Waters Parkerson & CO. LLC acquired a new position in CBIZ during the 4th quarter valued at approximately $23,383,000. Finally, SG Capital Management LLC acquired a new position in CBIZ during the 4th quarter valued at approximately $20,543,000. Institutional investors own 87.44% of the company's stock.

Analyst Ratings Changes

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

CBIZ Stock Performance

CBIZ stock traded up $1.32 during midday trading on Friday, reaching $73.76. 262,116 shares of the stock traded hands, compared to its average volume of 372,016. CBIZ, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $90.13. 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 firm has a market cap of $4.01 billion, a price-to-earnings ratio of 50.18 and a beta of 0.91. The firm has a fifty day moving average price of $71.34 and a two-hundred day moving average price of $76.75.

CBIZ (NYSE:CBZ - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $860.25 million. During the same period in the previous year, the firm posted $1.54 earnings per share. The business's revenue was up 69.5% on a year-over-year basis. On average, equities research analysts forecast that CBIZ, Inc. will post 2.65 earnings per share for the current 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.