CBIZ, Inc. (CBZ) Stake Lessened by Arrowstreet Capital Limited Partnership
Arrowstreet Capital Limited Partnership cut its stake in CBIZ, Inc. (NYSE:CBZ) by 23.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,219 shares of the business services provider’s stock after selling 35,020 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.21% of CBIZ worth $1,728,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Two Sigma Securities LLC bought a new position in shares of CBIZ in the first quarter valued at approximately $141,000. BNP Paribas Arbitrage SA boosted its holdings in shares of CBIZ by 147.0% in the second quarter. BNP Paribas Arbitrage SA now owns 9,637 shares of the business services provider’s stock valued at $145,000 after acquiring an additional 5,735 shares in the last quarter. Gotham Asset Management LLC bought a new position in shares of CBIZ in the first quarter valued at approximately $151,000. Ameriprise Financial Inc. boosted its holdings in shares of CBIZ by 2.6% in the first quarter. Ameriprise Financial Inc. now owns 13,710 shares of the business services provider’s stock valued at $186,000 after acquiring an additional 350 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of CBIZ in the second quarter valued at approximately $272,000. Institutional investors and hedge funds own 85.55% of the company’s stock.
Several analysts recently commented on the stock. BidaskClub lowered shares of CBIZ from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research raised shares of CBIZ from a “hold” rating to a “strong-buy” rating and set a $17.00 target price for the company in a research note on Friday, August 4th. Finally, ValuEngine raised shares of CBIZ from a “hold” rating to a “buy” rating in a research note on Friday, September 1st.
Shares of CBIZ, Inc. (NYSE:CBZ) opened at 16.80 on Friday. CBIZ, Inc. has a 1-year low of $10.73 and a 1-year high of $17.05. The firm has a market capitalization of $912.69 million, a price-to-earnings ratio of 19.88 and a beta of 0.90. The company’s 50-day moving average is $15.99 and its 200 day moving average is $15.22.
CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. CBIZ had a net margin of 5.54% and a return on equity of 9.42%. The company had revenue of $211.00 million during the quarter, compared to analysts’ expectations of $207.42 million. During the same quarter in the previous year, the company earned $0.16 EPS. CBIZ’s revenue was up 7.1% on a year-over-year basis. On average, analysts expect that CBIZ, Inc. will post $0.87 EPS for the current fiscal year.
In other news, insider Ware H. Grove sold 25,000 shares of CBIZ stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $15.06, for a total transaction of $376,500.00. Following the completion of the sale, the insider now owns 282,172 shares in the company, valued at approximately $4,249,510.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Chris Spurio sold 16,250 shares of CBIZ stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $15.18, for a total transaction of $246,675.00. Following the sale, the insider now owns 191,293 shares of the company’s stock, valued at approximately $2,903,827.74. The disclosure for this sale can be found here. 6.90% of the stock is owned by insiders.
CBIZ, Inc (CBIZ) is engaged in the professional services business. The Company operates its professional services business through acquiring and integrating accounting and financial service providers, group health benefits consulting firms, property and casualty brokerage firms, payroll service providers, and valuation and other service firms throughout the United States.
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