CBIZ, Inc. (NYSE:CBZ) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its stake in CBIZ, Inc. (NYSE:CBZ) 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.

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

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.

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.