Pacific Capital Partners Ltd Purchases Shares of 125,000 CBIZ, Inc. (NYSE:CBZ)

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 acquired a new stake in CBIZ, Inc. (NYSE:CBZ - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 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 investment portfolio, making the stock its 4th biggest holding. Pacific Capital Partners Ltd owned about 0.23% of CBIZ as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vestcor Inc lifted its stake in shares of CBIZ by 5.3% in the 1st quarter. Vestcor Inc now owns 2,922 shares of the business services provider's stock valued at $222,000 after purchasing an additional 148 shares during the period. XTX Topco Ltd acquired a new position in shares of CBIZ in the 1st quarter valued at about $1,043,000. Fiera Capital Corp lifted its stake in shares of CBIZ by 14.6% in the 1st quarter. Fiera Capital Corp now owns 234,522 shares of the business services provider's stock valued at $17,791,000 after purchasing an additional 29,902 shares during the period. LPL Financial LLC lifted its stake in shares of CBIZ by 89.4% in the 1st quarter. LPL Financial LLC now owns 38,181 shares of the business services provider's stock valued at $2,810,000 after purchasing an additional 18,027 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of CBIZ by 19.9% in the 1st quarter. Assetmark Inc. now owns 905 shares of the business services provider's stock valued at $69,000 after purchasing an additional 150 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

CBIZ Stock Up 1.0%

CBIZ stock traded up $0.62 during midday trading on Friday, reaching $61.74. The stock had a trading volume of 1,903,573 shares, compared to its average volume of 665,667. CBIZ, Inc. has a 12 month low of $56.83 and a 12 month high of $90.13. The company has a market capitalization of $3.36 billion, a P/E ratio of 35.48 and a beta of 0.91. The company has a fifty day moving average price of $72.03 and a two-hundred day moving average price of $75.50. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.76.

CBIZ (NYSE:CBZ - Get Free Report) last issued its earnings results on Wednesday, July 30th. The business services provider reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.11. The business had revenue of $683.50 million during the quarter, compared to analyst estimates of $701.43 million. CBIZ had a return on equity of 15.57% and a net margin of 4.51%. The firm's revenue was up 62.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 EPS. As a group, equities analysts expect that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

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.