Russell Investments Group Ltd. Increases Position in CBIZ, Inc. (NYSE:CBZ)

Russell Investments Group Ltd. grew its holdings in CBIZ, Inc. (NYSE:CBZ – Get Rating) by 29.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 103,272 shares of the business services provider’s stock after buying an additional 23,529 shares during the period. Russell Investments Group Ltd. owned 0.20% of CBIZ worth $4,838,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Eaton Vance Management increased its stake in shares of CBIZ by 14.3% during the first quarter. Eaton Vance Management now owns 2,923,896 shares of the business services provider’s stock worth $122,716,000 after acquiring an additional 364,887 shares during the period. Vanguard Group Inc. increased its stake in shares of CBIZ by 0.9% during the first quarter. Vanguard Group Inc. now owns 2,551,939 shares of the business services provider’s stock worth $107,105,000 after acquiring an additional 23,498 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of CBIZ by 317.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,237,443 shares of the business services provider’s stock worth $51,935,000 after acquiring an additional 941,076 shares during the period. State Street Corp increased its stake in shares of CBIZ by 0.3% during the third quarter. State Street Corp now owns 1,001,956 shares of the business services provider’s stock worth $42,864,000 after acquiring an additional 3,392 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of CBIZ by 9.9% during the third quarter. Price T Rowe Associates Inc. MD now owns 595,580 shares of the business services provider’s stock worth $25,480,000 after acquiring an additional 53,565 shares during the period. 88.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CBIZ news, insider Michael P. Kouzelos sold 47,125 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were 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 in the company, valued at $16,035,143.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other CBIZ news, insider Michael P. Kouzelos sold 47,125 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $51.23, for a total value of $2,414,213.75. Following the sale, the insider now owns 313,003 shares of the company’s stock, valued at $16,035,143.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ware H. Grove sold 1,515 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $52.85, for a total transaction of $80,067.75. Following the completion of the sale, the insider now directly owns 274,524 shares in the company, valued at approximately $14,508,593.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,125 shares of company stock worth $3,474,726. 5.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of CBIZ in a research note on Thursday, March 16th. They set a “hold” rating on the stock.

CBIZ Trading Down 0.1 %

Shares of CBZ opened at $49.58 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average is $49.73 and its two-hundred day moving average is $48.79. CBIZ, Inc. has a twelve month low of $37.01 and a twelve month high of $53.47. The firm has a market capitalization of $2.50 billion, a P/E ratio of 21.19 and a beta of 0.76.

CBIZ (NYSE:CBZ – Get Rating) last issued its earnings results on Thursday, April 27th. The business services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.17. CBIZ had a net margin of 8.16% and a return on equity of 16.24%. The company had revenue of $454.60 million for the quarter, compared to analyst estimates of $432.66 million. During the same period in the prior year, the business posted $1.18 earnings per share. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, research analysts predict that CBIZ, Inc. will post 2.41 earnings per share for the current fiscal year.

CBIZ Company 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.