Fmr LLC Has $40.02 Million Stake in CBIZ, Inc. (NYSE:CBZ)

Fmr LLC grew its stake in shares of CBIZ, Inc. (NYSE:CBZ) by 27.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 594,660 shares of the business services provider’s stock after buying an additional 127,822 shares during the period. Fmr LLC owned approximately 1.18% of CBIZ worth $40,015,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. AQR Capital Management LLC increased its holdings in CBIZ by 1.2% in the 2nd quarter. AQR Capital Management LLC now owns 14,960 shares of the business services provider’s stock valued at $1,109,000 after buying an additional 176 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in CBIZ by 1.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,235 shares of the business services provider’s stock valued at $1,203,000 after acquiring an additional 185 shares during the period. Inspire Investing LLC raised its position in CBIZ by 4.2% in the second quarter. Inspire Investing LLC now owns 4,757 shares of the business services provider’s stock worth $352,000 after purchasing an additional 190 shares in the last quarter. US Bancorp DE lifted its stake in CBIZ by 16.1% during the third quarter. US Bancorp DE now owns 1,796 shares of the business services provider’s stock worth $121,000 after purchasing an additional 249 shares during the period. Finally, Arizona State Retirement System boosted its holdings in CBIZ by 2.2% during the second quarter. Arizona State Retirement System now owns 12,603 shares of the business services provider’s stock valued at $934,000 after purchasing an additional 275 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

CBZ has been the topic of a number of analyst reports. StockNews.com cut CBIZ from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Sidoti raised shares of CBIZ from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $86.00 in a report on Monday, August 12th.

CBIZ Price Performance

CBIZ stock opened at $78.90 on Monday. The business’s fifty day moving average is $72.92 and its two-hundred day moving average is $73.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a market cap of $3.96 billion, a P/E ratio of 33.43 and a beta of 0.95. CBIZ, Inc. has a 52 week low of $57.44 and a 52 week high of $86.36.

CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. CBIZ had a net margin of 7.08% and a return on equity of 15.12%. The business had revenue of $438.90 million for the quarter, compared to the consensus estimate of $440.16 million. During the same quarter in the prior year, the company earned $0.66 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that CBIZ, Inc. will post 2.65 earnings per share for the current fiscal 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.