Wellington Management Group LLP Purchases New Stake in CBIZ, Inc. (NYSE:CBZ)

Wellington Management Group LLP bought a new position in CBIZ, Inc. (NYSE:CBZ - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 401,552 shares of the business services provider's stock, valued at approximately $32,859,000. Wellington Management Group LLP owned 0.75% of CBIZ at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CBZ. McIlrath & Eck LLC lifted its position in CBIZ by 193.2% in the fourth quarter. McIlrath & Eck LLC now owns 557 shares of the business services provider's stock worth $46,000 after purchasing an additional 367 shares during the period. Smartleaf Asset Management LLC lifted its position in CBIZ by 75.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 644 shares of the business services provider's stock worth $53,000 after purchasing an additional 276 shares during the period. VisionPoint Advisory Group LLC acquired a new position in CBIZ during the fourth quarter worth $60,000. Venturi Wealth Management LLC acquired a new position in CBIZ during the fourth quarter worth $110,000. Finally, KBC Group NV raised its stake in CBIZ by 30.1% during the fourth quarter. KBC Group NV now owns 2,021 shares of the business services provider's stock worth $165,000 after acquiring an additional 468 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CBZ. Wall Street Zen lowered CBIZ from a "hold" rating to a "sell" rating in a research note on Tuesday, February 25th. William Blair restated an "outperform" rating on shares of CBIZ in a research note on Friday, April 25th.

CBIZ Trading Up 0.3%

CBZ traded up $0.25 during midday trading on Wednesday, reaching $72.25. 94,440 shares of the company were exchanged, compared to its average volume of 350,483. 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, Inc. has a one year low of $62.66 and a one year high of $90.13. The stock has a market capitalization of $3.93 billion, a P/E ratio of 30.61 and a beta of 0.91. The stock's 50-day simple moving average is $73.29 and its 200 day simple moving average is $78.18.

CBIZ (NYSE:CBZ - Get Free Report) last issued its earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.11 by $0.18. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. The firm had revenue of $838.01 million for the quarter, compared to analysts' expectations of $860.25 million. During the same quarter last year, the business earned $1.54 earnings per share. The company's revenue was up 69.5% compared to the same quarter last year. As a group, analysts forecast that CBIZ, Inc. will post 2.65 earnings per share for the current fiscal year.

Insider Activity at CBIZ

In other CBIZ 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 value of $468,240.50. Following the sale, the director now owns 41,759 shares in the company, valued at approximately $2,996,208.25. The trade was a 13.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.95% of the stock is owned by insiders.

CBIZ Company 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.