Victory Capital Management Inc. Sells 6,783 Shares of CBIZ, Inc. (NYSE:CBZ)

Key Points

• Victory Capital Management Inc. reduced its position in CBIZ, Inc. by 11.5%, selling 6,783 shares to hold 52,115 shares, valued at approximately $3.95 million as of their latest SEC filing.
• CBIZ reported a quarterly earnings per share of $2.29, outperforming estimates by $0.18, and had a revenue of $838.01 million, below the expected $860.25 million.
• Analyst firm William Blair reissued an "outperform" rating for CBIZ, indicating positive expectations for the stock's performance.

Victory Capital Management Inc. trimmed its holdings in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 11.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,115 shares of the business services provider's stock after selling 6,783 shares during the period. Victory Capital Management Inc. owned approximately 0.10% of CBIZ worth $3,953,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of CBZ. Teacher Retirement System of Texas bought a new position in shares of CBIZ in the 4th quarter worth $484,000. Sei Investments Co. lifted its holdings in shares of CBIZ by 1.5% in the 4th quarter. Sei Investments Co. now owns 37,401 shares of the business services provider's stock worth $3,061,000 after purchasing an additional 549 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of CBIZ in the 4th quarter worth $769,000. Vanguard Group Inc. lifted its holdings in shares of CBIZ by 0.9% in the 4th 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 in the last quarter. Finally, Norges Bank purchased a new stake in CBIZ in the 4th quarter valued at $12,096,000. 87.44% of the stock is currently owned by institutional investors.

CBIZ Trading Up 1.5%

Shares of CBIZ stock opened at $77.72 on Monday. CBIZ, Inc. has a 1 year low of $62.65 and a 1 year high of $90.13. The firm has a market cap of $4.23 billion, a PE ratio of 52.87 and a beta of 0.91. The stock has a fifty day moving average price of $72.28 and a 200-day moving average price of $75.83. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.52 and a quick ratio of 1.52.

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

Analyst Upgrades and Downgrades

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

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.

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