First Trust Advisors LP Cuts Holdings in CBIZ, Inc. (NYSE:CBZ)

First Trust Advisors LP decreased its stake in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 64.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 18,107 shares of the business services provider's stock after selling 33,532 shares during the period. First Trust Advisors LP's holdings in CBIZ were worth $1,482,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. boosted its holdings in CBIZ by 157.2% in the 4th 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 during the period. Wellington Management Group LLP bought a new stake in shares of CBIZ during the 4th quarter worth approximately $32,859,000. Norges Bank bought a new stake in CBIZ during the 4th quarter worth $12,096,000. Geneva Capital Management LLC grew its position 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 worth $34,647,000 after acquiring an additional 140,493 shares during the last quarter. Finally, Barclays PLC grew its position in CBIZ by 362.1% during the 3rd quarter. Barclays PLC now owns 78,711 shares of the business services provider's stock worth $5,298,000 after acquiring an additional 61,679 shares during the last quarter. Institutional investors own 87.44% of the company's stock.

CBIZ Trading Up 1.1%

Shares of CBZ traded up $0.77 during trading hours on Monday, hitting $73.20. 12,658 shares of the stock were exchanged, compared to its average volume of 343,951. CBIZ, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $90.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 1.49. The business has a 50-day moving average of $72.94 and a 200-day moving average of $78.30. The firm has a market capitalization of $3.98 billion, a P/E ratio of 30.97 and a beta of 0.91.

CBIZ (NYSE:CBZ - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.11 by $0.18. The company had revenue of $838.01 million for the quarter, compared to the consensus estimate of $860.25 million. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. The firm's revenue was up 69.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.54 EPS. On average, research analysts expect that CBIZ, Inc. will post 2.65 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CBZ. StockNews.com downgraded shares of CBIZ from a "hold" rating to a "sell" rating in a research note on Tuesday, February 25th. William Blair reaffirmed an "outperform" rating on shares of CBIZ in a research note on Friday, April 25th.

Insider Activity

In other CBIZ news, Director Benaree Pratt Wiley sold 6,526 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $71.75, for a total value of $468,240.50. Following the completion of the sale, the director now directly owns 41,759 shares in the company, valued at approximately $2,996,208.25. This trade represents a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.95% of the stock is owned by company insiders.

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.