Mirae Asset Global Investments Co. Ltd. Grows Stock Position in CBIZ, Inc. (NYSE:CBZ)

Mirae Asset Global Investments Co. Ltd. increased its holdings in CBIZ, Inc. (NYSE:CBZ) by 6.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,229 shares of the business services provider’s stock after buying an additional 1,325 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in CBIZ were worth $1,454,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Comerica Bank purchased a new stake in shares of CBIZ in the 3rd quarter worth about $41,000. Fortis Group Advisors LLC acquired a new position in CBIZ in the 3rd quarter valued at about $45,000. Federated Hermes Inc. raised its stake 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. raised its stake 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. 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. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

CBIZ Trading Up 0.9 %

Shares of CBZ stock opened at $74.92 on Monday. The firm has a 50-day moving average price of $74.86 and a 200 day moving average price of $64.59. CBIZ, Inc. has a twelve month low of $49.13 and a twelve month high of $79.55. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 31.48 and a beta of 0.83. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.39.

CBIZ (NYSE:CBZ) last announced its earnings results on Thursday, February 15th. The business services provider reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.01. CBIZ had a net margin of 7.60% and a return on equity of 15.49%. The firm had revenue of $327.50 million during the quarter, compared to the consensus estimate of $308.87 million. During the same quarter in the previous year, the company posted ($0.21) EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts forecast that CBIZ, Inc. will post 2.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Sidoti downgraded shares of CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 target price for the company. in a research note on Tuesday, January 2nd.

CBIZ Profile

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through Financial Services, Benefits and Insurance Services, and National Practices segments. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.