CBIZ, Inc. (NYSE:CBZ) Shares Sold by Select Equity Group L.P.

Select Equity Group L.P. lessened its stake in CBIZ, Inc. (NYSE:CBZ) by 10.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,130,568 shares of the business services provider’s stock after selling 131,103 shares during the quarter. Select Equity Group L.P. owned approximately 2.26% of CBIZ worth $83,775,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CBZ. Goldman Sachs Group Inc. raised its position in shares of CBIZ by 12.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 507,824 shares of the business services provider’s stock worth $31,785,000 after purchasing an additional 54,573 shares during the last quarter. Capital World Investors purchased a new stake in shares of CBIZ during the first quarter worth approximately $40,590,000. Artemis Investment Management LLP purchased a new stake in shares of CBIZ during the first quarter worth approximately $17,148,000. Vanguard Group Inc. raised its stake in CBIZ by 36.3% in the 1st quarter. Vanguard Group Inc. now owns 3,705,090 shares of the business services provider’s stock valued at $290,850,000 after purchasing an additional 986,774 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of CBIZ during the fourth quarter worth $19,874,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CBZ shares. Sidoti raised shares of CBIZ from a “neutral” rating to a “buy” rating and raised their price target for the stock from $80.00 to $86.00 in a research note on Monday, August 12th. StockNews.com cut CBIZ from a “hold” rating to a “sell” rating in a report on Thursday, September 5th.

CBIZ Stock Up 0.2 %

Shares of NYSE:CBZ opened at $66.69 on Friday. CBIZ, Inc. has a 52-week low of $49.15 and a 52-week high of $86.36. The stock has a market cap of $3.34 billion, a P/E ratio of 27.00 and a beta of 0.92. The business has a fifty day moving average of $71.78 and a two-hundred day moving average of $74.51. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43.

CBIZ (NYSE:CBZ) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.29). CBIZ had a net margin of 7.12% and a return on equity of 14.58%. The firm had revenue of $420.00 million during the quarter, compared to analysts’ expectations of $430.38 million. During the same period in the prior year, the company posted $0.55 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, research analysts expect that CBIZ, Inc. will post 2.64 earnings per share for the current year.

About CBIZ

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.