125,000 Shares in CBIZ, Inc. (NYSE:CBZ) Acquired by Pacific Capital Partners Ltd

Key Points

• Pacific Capital Partners Ltd has acquired a new stake in CBIZ, Inc., purchasing 125,000 shares valued at approximately $9.48 million, which accounts for 6.0% of their investment portfolio.
• The shares of CBIZ have experienced a 1.3% decline, with the stock trading at $75.75, and a market cap of $4.12 billion.
• Analyst ratings have been favorable, with William Blair reissuing an "outperform" rating on CBIZ shares as of April 25th.

Pacific Capital Partners Ltd purchased a new position in CBIZ, Inc. (NYSE:CBZ - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 125,000 shares of the business services provider's stock, valued at approximately $9,482,000. CBIZ accounts for 6.0% of Pacific Capital Partners Ltd's portfolio, making the stock its 4th biggest position. Pacific Capital Partners Ltd owned 0.23% of CBIZ as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CBZ. Whittier Trust Co. bought a new position in CBIZ in the 1st quarter worth $34,000. McIlrath & Eck LLC grew its position 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 purchasing an additional 367 shares in the last quarter. Olde Wealth Management LLC purchased a new position in CBIZ in the 1st quarter worth approximately $55,000. Assetmark Inc. grew its stake in CBIZ by 19.9% during the first quarter. Assetmark Inc. now owns 905 shares of the business services provider's stock valued at $69,000 after acquiring an additional 150 shares in the last quarter. Finally, Huntington National Bank lifted its stake in CBIZ by 9.4% in the 4th quarter. Huntington National Bank now owns 2,220 shares of the business services provider's stock worth $182,000 after purchasing an additional 191 shares in the last quarter. Institutional investors own 87.44% of the company's stock.

Wall Street Analysts Forecast Growth

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

CBIZ Price Performance

Shares of CBZ stock traded up $0.62 on Friday, reaching $61.74. The company's stock had a trading volume of 1,903,573 shares, compared to its average volume of 455,880. The stock's fifty day simple moving average is $72.24 and its 200-day simple moving average is $75.64. CBIZ, Inc. has a 1 year low of $56.83 and a 1 year 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 company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 35.48 and a beta of 0.91.

CBIZ (NYSE:CBZ - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The business services provider reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.11. The business had revenue of $683.50 million during the quarter, compared to analysts' expectations of $701.43 million. CBIZ had a net margin of 4.51% and a return on equity of 15.57%. The business's revenue was up 62.7% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. Analysts forecast 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.