CBIZ, Inc. (NYSE:CBZ) Shares Purchased by Royal Bank of Canada

Royal Bank of Canada lifted its stake in CBIZ, Inc. (NYSE:CBZ - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 207,806 shares of the business services provider's stock after purchasing an additional 14,310 shares during the period. Royal Bank of Canada owned about 0.41% of CBIZ worth $17,004,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Invesco Ltd. boosted its stake in shares of CBIZ by 157.2% during the fourth quarter. Invesco Ltd. now owns 769,209 shares of the business services provider's stock valued at $62,944,000 after purchasing an additional 470,095 shares in the last quarter. Wellington Management Group LLP acquired a new position in CBIZ during the 4th quarter valued at about $32,859,000. Capital World Investors raised its stake in CBIZ by 37.6% in the fourth quarter. Capital World Investors now owns 1,134,585 shares of the business services provider's stock valued at $92,843,000 after buying an additional 309,785 shares during the last quarter. Norges Bank acquired a new stake in CBIZ in the fourth quarter worth about $12,096,000. Finally, Geneva Capital Management LLC increased its stake in CBIZ by 49.7% during the 4th quarter. Geneva Capital Management LLC now owns 423,407 shares of the business services provider's stock valued at $34,647,000 after purchasing an additional 140,493 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Insider Activity at CBIZ

In other news, Director Benaree Pratt Wiley sold 6,526 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $71.75, for a total transaction of $468,240.50. Following the transaction, the director now directly owns 41,759 shares in the company, valued at $2,996,208.25. The trade was a 13.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.95% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CBZ has been the topic of a number of recent research reports. William Blair reiterated an "outperform" rating on shares of CBIZ in a research report on Friday, April 25th. Wall Street Zen lowered shares of CBIZ from a "hold" rating to a "sell" rating in a report on Tuesday, February 25th.

CBIZ Stock Performance

CBZ stock traded down $0.27 during trading on Friday, hitting $71.92. 51,559 shares of the company traded hands, compared to its average volume of 348,612. CBIZ, Inc. has a 1 year low of $62.66 and a 1 year high of $90.13. The company has a market cap of $3.91 billion, a PE ratio of 30.57 and a beta of 0.91. The stock's 50-day simple moving average is $73.44 and its 200 day simple moving average is $78.30. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 1.49.

CBIZ (NYSE:CBZ - Get Free Report) last posted its earnings results on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 15.12% and a net margin of 7.08%. The company's quarterly revenue was up 69.5% on a year-over-year basis. During the same period last year, the firm earned $1.54 EPS. On average, equities analysts expect 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.