Bank of New York Mellon Corp Decreases Position in CBIZ, Inc. (NYSE:CBZ)

Bank of New York Mellon Corp decreased its holdings in CBIZ, Inc. (NYSE:CBZ) by 0.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,558 shares of the business services provider’s stock after selling 524 shares during the quarter. Bank of New York Mellon Corp owned about 0.28% of CBIZ worth $11,345,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Olde Wealth Management LLC purchased a new stake in shares of CBIZ in the 1st quarter valued at $55,000. Principal Financial Group Inc. lifted its position in CBIZ by 0.8% during the first quarter. Principal Financial Group Inc. now owns 31,766 shares of the business services provider’s stock valued at $2,410,000 after purchasing an additional 243 shares during the period. Teacher Retirement System of Texas boosted its holdings in CBIZ by 11.6% in the first quarter. Teacher Retirement System of Texas now owns 6,604 shares of the business services provider’s stock valued at $501,000 after purchasing an additional 685 shares during the last quarter. Taylor Frigon Capital Management LLC grew its position in CBIZ by 67.4% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 31,891 shares of the business services provider’s stock worth $2,419,000 after purchasing an additional 12,839 shares during the period. Finally, Artemis Investment Management LLP raised its stake in shares of CBIZ by 60.4% during the 1st quarter. Artemis Investment Management LLP now owns 631,893 shares of the business services provider’s stock valued at $47,935,000 after buying an additional 237,983 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

CBIZ Stock Performance

Shares of CBIZ stock opened at $74.72 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.52 and a current ratio of 1.52. CBIZ, Inc. has a one year low of $62.66 and a one year high of $90.13. The company has a market cap of $4.06 billion, a PE ratio of 50.83 and a beta of 0.91. The business has a 50-day simple moving average of $72.12 and a 200-day simple moving average of $76.06.

CBIZ (NYSE:CBZ) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.18. CBIZ had a return on equity of 14.83% and a net margin of 4.03%. The company had revenue of $838.01 million for the quarter, compared to analyst estimates of $860.25 million. During the same quarter in the previous year, the company earned $1.54 EPS. The firm’s revenue for the quarter was up 69.5% compared to the same quarter last year. On average, equities research analysts forecast that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, William Blair reissued an “outperform” rating on shares of CBIZ in a research note on Friday, April 25th.

CBIZ Company 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.