Mackenzie Financial Corp decreased its stake in CBIZ, Inc. (NYSE:CBZ – Free Report) by 74.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,670 shares of the business services provider’s stock after selling 13,613 shares during the quarter. Mackenzie Financial Corp’s holdings in CBIZ were worth $251,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of CBZ. Assetmark Inc. purchased a new position in CBIZ in the 1st quarter valued at about $36,000. Federated Hermes Inc. lifted its position in shares of CBIZ by 56.4% in the third quarter. Federated Hermes Inc. now owns 1,117 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 403 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in shares of CBIZ by 127.1% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,206 shares of the business services provider’s stock worth $57,000 after acquiring an additional 675 shares during the last quarter. Money Concepts Capital Corp purchased a new stake in shares of CBIZ during the fourth quarter worth approximately $65,000. Finally, Macquarie Group Ltd. raised its stake 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. Hedge funds and other institutional investors own 88.06% of the company’s stock.
CBIZ Stock Performance
Shares of CBIZ stock opened at $55.89 on Thursday. The business’s 50 day moving average price is $53.31 and its 200 day moving average price is $52.97. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 23.19 and a beta of 0.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.40 and a current ratio of 1.40. CBIZ, Inc. has a one year low of $45.22 and a one year high of $56.96.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on CBZ shares. Sidoti raised shares of CBIZ from a “neutral” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Monday, October 30th. StockNews.com started coverage on shares of CBIZ in a research note on Thursday, October 5th. They set a “hold” rating for the company.
Insider Transactions at CBIZ
In related news, insider Ware H. Grove sold 3,911 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $55.21, for a total value of $215,926.31. Following the completion of the transaction, the insider now directly owns 274,524 shares in the company, valued at $15,156,470.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other CBIZ news, insider Ware H. Grove sold 3,911 shares of CBIZ stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $55.21, for a total transaction of $215,926.31. Following the completion of the sale, the insider now directly owns 274,524 shares in the company, valued at $15,156,470.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ware H. Grove sold 1,159 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $55.23, for a total transaction of $64,011.57. Following the completion of the transaction, the insider now owns 274,524 shares in the company, valued at $15,161,960.52. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.
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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