Meritage Portfolio Management Reduces Stock Holdings in CBIZ, Inc. (NYSE:CBZ)

Meritage Portfolio Management trimmed its position in CBIZ, Inc. (NYSE:CBZ - Free Report) by 44.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund 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 SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in CBIZ by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 4,716,456 shares of the business services provider's stock worth $385,948,000 after purchasing an additional 43,784 shares during the last quarter. Burgundy Asset Management Ltd. raised its stake in CBIZ by 1.5% during the 4th quarter. Burgundy Asset Management Ltd. now owns 2,081,380 shares of the business services provider's stock valued at $170,319,000 after purchasing an additional 31,253 shares during the period. Capital World Investors raised its stake in CBIZ by 37.6% during the 4th quarter. Capital World Investors now owns 1,134,585 shares of the business services provider's stock valued at $92,843,000 after purchasing an additional 309,785 shares during the period. Northern Trust Corp raised its stake in CBIZ by 0.7% during the 4th quarter. Northern Trust Corp now owns 940,717 shares of the business services provider's stock valued at $76,979,000 after purchasing an additional 6,540 shares during the period. Finally, Invesco Ltd. increased its stake in CBIZ by 157.2% in the 4th 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. 87.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

CBIZ Price Performance

NYSE:CBZ traded down $0.09 during trading hours on Monday, reaching $73.67. The stock had a trading volume of 503,917 shares, compared to its average volume of 373,412. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.52 and a current ratio of 1.52. CBIZ, Inc. has a 52 week low of $62.66 and a 52 week high of $90.13. The company has a 50 day moving average price of $71.64 and a two-hundred day moving average price of $76.60. The stock has a market capitalization of $4.01 billion, a PE ratio of 50.12 and a beta of 0.91.

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

CBIZ 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.