Capital World Investors Acquires New Position in CBIZ, Inc. (NYSE:CBZ)

Capital World Investors acquired a new stake in shares of CBIZ, Inc. (NYSE:CBZ) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 517,064 shares of the business services provider’s stock, valued at approximately $40,590,000. Capital World Investors owned about 1.03% of CBIZ as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of CBIZ by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,667,189 shares of the business services provider’s stock valued at $138,427,000 after buying an additional 31,477 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of CBIZ in the fourth quarter worth $384,000. Assenagon Asset Management S.A. grew its position in shares of CBIZ by 167.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 93,543 shares of the business services provider’s stock valued at $5,855,000 after purchasing an additional 58,549 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of CBIZ by 6.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,229 shares of the business services provider’s stock valued at $1,454,000 after purchasing an additional 1,325 shares in the last quarter. Finally, Bleakley Financial Group LLC bought a new stake in shares of CBIZ during the 4th quarter valued at $238,000. Institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered CBIZ from a “hold” rating to a “sell” rating in a report on Tuesday, July 16th.

CBIZ Stock Performance

CBIZ stock opened at $85.66 on Friday. The firm’s 50 day simple moving average is $77.21 and its 200 day simple moving average is $74.03. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. CBIZ, Inc. has a 1-year low of $49.15 and a 1-year high of $86.04. The firm has a market capitalization of $4.29 billion, a PE ratio of 34.68 and a beta of 0.93.

CBIZ (NYSE:CBZ) last released its quarterly earnings results on Thursday, April 25th. The business services provider reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.03). The firm had revenue of $494.30 million during the quarter, compared to the consensus estimate of $490.88 million. CBIZ had a return on equity of 15.43% and a net margin of 7.65%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 EPS. As a group, analysts expect that CBIZ, Inc. will post 2.74 earnings per share for the current fiscal 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.