Mackenzie Financial Corp Acquires Shares of 3,720 CBIZ, Inc. (NYSE:CBZ)

Mackenzie Financial Corp acquired a new position in CBIZ, Inc. (NYSE:CBZ) during the fourth quarter, Holdings Channel.com reports. The firm acquired 3,720 shares of the business services provider’s stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Simplicity Solutions LLC purchased a new stake in CBIZ in the fourth quarter valued at $238,000. Bleakley Financial Group LLC purchased a new position in shares of CBIZ during the 4th quarter valued at approximately $238,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of CBIZ by 6.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,229 shares of the business services provider’s stock valued at $1,454,000 after purchasing an additional 1,325 shares during the period. Assenagon Asset Management S.A. boosted its holdings in CBIZ by 167.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 93,543 shares of the business services provider’s stock worth $5,855,000 after buying an additional 58,549 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in CBIZ during the fourth quarter valued at $384,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

CBIZ Stock Performance

NYSE:CBZ opened at $72.76 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market capitalization of $3.65 billion, a PE ratio of 29.46 and a beta of 0.83. CBIZ, Inc. has a fifty-two week low of $49.13 and a fifty-two week high of $79.55. The company has a fifty day moving average of $75.74 and a two-hundred day moving average of $65.37.

CBIZ (NYSE:CBZ) last released its quarterly earnings results on Thursday, April 25th. The business services provider reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.03). The company had revenue of $494.30 million for the quarter, compared to analyst estimates of $490.88 million. CBIZ had a return on equity of 15.79% and a net margin of 7.65%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $1.46 EPS. As a group, research analysts forecast that CBIZ, Inc. will post 2.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CBZ. Sidoti lowered shares of CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 target price on the stock. in a research note on Tuesday, January 2nd. StockNews.com lowered CBIZ from a “hold” rating to a “sell” rating in a report on Friday.

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.