CBIZ, Inc. (NYSE:CBZ) Position Raised by Royal Bank of Canada

Royal Bank of Canada raised its stake in CBIZ, Inc. (NYSE:CBZ – Get Rating) by 1.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 241,564 shares of the business services provider’s stock after buying an additional 3,118 shares during the quarter. Royal Bank of Canada owned approximately 0.48% of CBIZ worth $10,334,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in CBIZ by 8.4% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,749 shares of the business services provider’s stock valued at $332,000 after buying an additional 600 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of CBIZ by 179.9% during the third quarter. Rockefeller Capital Management L.P. now owns 1,198 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 770 shares during the period. Macquarie Group Ltd. increased its holdings in shares of CBIZ by 113.6% during the second quarter. Macquarie Group Ltd. now owns 1,566 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 833 shares during the period. Legal & General Group Plc increased its holdings in shares of CBIZ by 2.9% during the second quarter. Legal & General Group Plc now owns 45,412 shares of the business services provider’s stock valued at $1,814,000 after purchasing an additional 1,301 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of CBIZ by 66.3% during the third quarter. Tower Research Capital LLC TRC now owns 3,304 shares of the business services provider’s stock valued at $142,000 after purchasing an additional 1,317 shares during the period. 88.74% of the stock is currently owned by institutional investors.

CBIZ Price Performance

Shares of CBZ opened at $48.63 on Friday. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 24.32 and a beta of 0.76. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.11 and a current ratio of 1.11. CBIZ, Inc. has a one year low of $37.01 and a one year high of $51.85. The stock’s fifty day moving average is $48.19 and its 200-day moving average is $47.08.

CBIZ (NYSE:CBZ – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The business services provider reported ($0.21) EPS for the quarter, meeting analysts’ consensus estimates of ($0.21). The company had revenue of $295.00 million for the quarter, compared to analyst estimates of $281.56 million. CBIZ had a return on equity of 14.76% and a net margin of 7.46%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the company earned ($0.19) earnings per share. Equities analysts anticipate that CBIZ, Inc. will post 2.4 EPS for the current year.

Insider Buying and Selling

In related news, insider Michael P. Kouzelos sold 47,125 shares of CBIZ stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $51.23, for a total transaction of $2,414,213.75. Following the transaction, the insider now directly owns 313,003 shares of the company’s stock, valued at $16,035,143.69. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 6.80% of the stock is owned by corporate insiders.

CBIZ Profile

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CBIZ, Inc engages in the provision of financial, insurance, and advisory services. It operates through the following segments: Financial Services, Benefits and Insurance Services, National Practices, and Corporate and Other. The Financial Services segment offers accounting, tax, government health care consulting, financial advisory, valuation, and risk advisory services.