Royal Bank of Canada Raises Holdings in CBIZ, Inc. (NYSE:CBZ)

Royal Bank of Canada lifted its position in CBIZ, Inc. (NYSE:CBZ - Free Report) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 207,806 shares of the business services provider's stock after buying an additional 14,310 shares during the quarter. Royal Bank of Canada owned approximately 0.41% of CBIZ worth $17,004,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arizona State Retirement System grew its stake in CBIZ by 1.0% during the 4th quarter. Arizona State Retirement System now owns 13,112 shares of the business services provider's stock worth $1,073,000 after purchasing an additional 125 shares in the last quarter. Corient Private Wealth LLC grew its stake in CBIZ by 1.4% during the 4th quarter. Corient Private Wealth LLC now owns 9,510 shares of the business services provider's stock worth $778,000 after purchasing an additional 128 shares in the last quarter. Kensington Investment Counsel LLC grew its stake in CBIZ by 0.7% during the 4th quarter. Kensington Investment Counsel LLC now owns 20,211 shares of the business services provider's stock worth $1,654,000 after purchasing an additional 132 shares in the last quarter. SG Americas Securities LLC grew its stake in CBIZ by 7.2% during the 4th quarter. SG Americas Securities LLC now owns 2,536 shares of the business services provider's stock worth $208,000 after purchasing an additional 170 shares in the last quarter. Finally, Huntington National Bank grew its stake in CBIZ by 9.4% during 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. Hedge funds and other institutional investors own 87.44% of the company's stock.

CBIZ Stock Down 3.1%

Shares of NYSE:CBZ traded down $2.32 on Thursday, hitting $71.97. 137,346 shares of the company's stock were exchanged, compared to its average volume of 348,232. The firm's 50-day moving average is $73.47 and its 200 day moving average is $78.34. The company has a market capitalization of $3.91 billion, a PE ratio of 30.48 and a beta of 0.91. CBIZ, Inc. has a 1-year low of $62.66 and a 1-year high of $90.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.49 and a current ratio of 1.49.

CBIZ (NYSE:CBZ - Get Free Report) last released 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. The business had revenue of $838.01 million during 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 business's quarterly revenue was up 69.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.54 EPS. Sell-side analysts predict that CBIZ, Inc. will post 2.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. William Blair reissued an "outperform" rating on shares of CBIZ in a research note on Friday, April 25th. Wall Street Zen cut CBIZ from a "hold" rating to a "sell" rating in a research note on Tuesday, February 25th.

Insider Transactions at CBIZ

In other CBIZ news, Director Benaree Pratt Wiley sold 6,526 shares of the company'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 completion of the sale, the director now directly owns 41,759 shares of the company's stock, valued at $2,996,208.25. This represents a 13.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.95% of the company's stock.

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.