Janney Montgomery Scott LLC Takes $389,000 Position in CBIZ, Inc. (NYSE:CBZ)

Janney Montgomery Scott LLC purchased a new stake in CBIZ, Inc. (NYSE:CBZ) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 7,299 shares of the business services provider’s stock, valued at approximately $389,000.

Several other hedge funds and other institutional investors have also modified their holdings of CBZ. Assetmark Inc. bought a new stake in CBIZ in the 1st quarter valued at about $36,000. Federated Hermes Inc. lifted its position in CBIZ by 56.4% in the 3rd 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 during the last quarter. Advisor Group Holdings Inc. lifted its position in CBIZ by 127.1% in the 4th 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 during the last quarter. Money Concepts Capital Corp bought a new stake in CBIZ in the 4th quarter valued at about $65,000. Finally, Macquarie Group Ltd. lifted its position in CBIZ by 113.6% in the 2nd 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 last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CBIZ

In other news, Director Benaree Pratt Wiley sold 7,519 shares of CBIZ stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $54.01, for a total value of $406,101.19. Following the transaction, the director now directly owns 45,252 shares of the company’s stock, valued at $2,444,060.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. StockNews.com assumed coverage on shares of CBIZ in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Sidoti upgraded shares of CBIZ from a “neutral” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Monday.

CBIZ Stock Up 1.0 %

NYSE CBZ opened at $51.98 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.40 and a quick ratio of 1.40. The company’s 50 day simple moving average is $53.33 and its 200 day simple moving average is $52.85. CBIZ, Inc. has a 12 month low of $45.22 and a 12 month high of $56.96. The company has a market capitalization of $2.59 billion, a P/E ratio of 21.57 and a beta of 0.76.

CBIZ (NYSE:CBZ) last released its earnings results on Thursday, October 26th. The business services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.08. The business had revenue of $410.54 million for the quarter, compared to the consensus estimate of $395.53 million. CBIZ had a net margin of 7.84% and a return on equity of 16.22%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS. Equities research analysts expect that CBIZ, Inc. will post 2.4 earnings per share for the current fiscal year.

About CBIZ

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.