Bank of New York Mellon Corp trimmed its stake in shares of CBIZ, Inc. (NYSE:CBZ – Free Report) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 215,910 shares of the business services provider’s stock after selling 10,676 shares during the quarter. Bank of New York Mellon Corp owned 0.43% of CBIZ worth $10,685,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new stake in CBIZ during the first quarter valued at approximately $36,000. Federated Hermes Inc. boosted its holdings in CBIZ by 56.4% during the third quarter. Federated Hermes Inc. now owns 1,117 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 403 shares in the last quarter. Advisor Group Holdings Inc. boosted its holdings in CBIZ by 127.1% during the fourth quarter. Advisor Group Holdings Inc. now owns 1,206 shares of the business services provider’s stock valued at $57,000 after purchasing an additional 675 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in shares of CBIZ by 113.6% in the 2nd quarter. Macquarie Group Ltd. now owns 1,566 shares of the business services provider’s stock worth $62,000 after acquiring an additional 833 shares in the last quarter. Finally, Money Concepts Capital Corp acquired a new position in shares of CBIZ in the 4th quarter worth approximately $65,000. 88.06% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, StockNews.com initiated coverage on CBIZ in a report on Thursday, August 17th. They issued a “hold” rating on the stock.
Insiders Place Their Bets
In other CBIZ news, insider Ware H. Grove sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $54.55, for a total transaction of $1,091,000.00. Following the transaction, the insider now owns 274,524 shares of the company’s stock, valued at approximately $14,975,284.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other CBIZ news, Director Joseph S. Dimartino sold 5,000 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $52.35, for a total transaction of $261,750.00. Following the completion of the sale, the director now owns 15,999 shares in the company, valued at approximately $837,547.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ware H. Grove sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $54.55, for a total transaction of $1,091,000.00. Following the sale, the insider now owns 274,524 shares of the company’s stock, valued at approximately $14,975,284.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,519 shares of company stock valued at $1,758,851. 5.40% of the stock is currently owned by corporate insiders.
CBIZ Stock Up 0.8 %
Shares of CBZ opened at $56.55 on Friday. The company has a market capitalization of $2.82 billion, a P/E ratio of 24.89 and a beta of 0.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.37 and a quick ratio of 1.37. CBIZ, Inc. has a one year low of $42.23 and a one year high of $56.96. The business’s 50 day simple moving average is $53.95 and its 200-day simple moving average is $51.61.
CBIZ (NYSE:CBZ – Get Free Report) last announced its earnings results on Thursday, July 27th. The business services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.13). The business had revenue of $398.50 million during the quarter, compared to analyst estimates of $392.37 million. CBIZ had a return on equity of 15.52% and a net margin of 7.67%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 earnings per share. As a group, sell-side analysts predict that CBIZ, Inc. will post 2.4 EPS for the current fiscal year.
CBIZ Company Profile
CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through three segments: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.
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