Waters Parkerson & CO. LLC Takes Position in CBIZ, Inc. (NYSE:CBZ)

Waters Parkerson & CO. LLC bought a new stake in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 285,755 shares of the business services provider's stock, valued at approximately $23,383,000. CBIZ makes up 1.2% of Waters Parkerson & CO. LLC's holdings, making the stock its 29th largest position. Waters Parkerson & CO. LLC owned 0.57% of CBIZ as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its holdings in shares of CBIZ by 75.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 644 shares of the business services provider's stock valued at $53,000 after buying an additional 276 shares in the last quarter. VisionPoint Advisory Group LLC bought a new stake in shares of CBIZ during the 4th quarter valued at $60,000. Venturi Wealth Management LLC bought a new stake in shares of CBIZ during the 4th quarter valued at $110,000. KBC Group NV boosted its holdings in shares of CBIZ by 30.1% during the 4th quarter. KBC Group NV now owns 2,021 shares of the business services provider's stock valued at $165,000 after buying an additional 468 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of CBIZ by 31.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,227 shares of the business services provider's stock valued at $182,000 after buying an additional 529 shares in the last quarter. Institutional investors own 87.44% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CBZ shares. Wall Street Zen cut shares of CBIZ from a "hold" rating to a "sell" rating in a research note on Tuesday, February 25th. William Blair reiterated an "outperform" rating on shares of CBIZ in a research note on Friday, April 25th.

Insider Activity

In other news, Director Benaree Pratt Wiley sold 6,526 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were 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 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 document filed with the Securities & Exchange Commission, which is available through this link. 4.95% of the stock is owned by corporate insiders.

CBIZ Stock Performance

Shares of CBZ traded down $0.24 during mid-day trading on Friday, hitting $72.01. 309,555 shares of the company traded hands, compared to its average volume of 347,170. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a 50-day moving average price of $73.42 and a two-hundred day moving average price of $78.42. CBIZ, Inc. has a 1 year low of $62.66 and a 1 year high of $90.13. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 30.51 and a beta of 0.91.

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 for the quarter, beating the consensus estimate of $2.11 by $0.18. CBIZ had a net margin of 7.08% and a return on equity of 15.12%. The firm had revenue of $838.01 million during the quarter, compared to analysts' expectations of $860.25 million. During the same period in the previous year, the company earned $1.54 earnings per share. The firm's quarterly revenue was up 69.5% on a year-over-year basis. Equities analysts anticipate that CBIZ, Inc. will post 2.65 earnings per share for the current 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.