Bank of America Corp DE decreased its position in shares of CBIZ, Inc. (NYSE:CBZ) by 9.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,718 shares of the business services provider’s stock after selling 3,096 shares during the quarter. Bank of America Corp DE owned approximately 0.06% of CBIZ worth $706,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CBZ. FMR LLC boosted its holdings in shares of CBIZ by 49.4% during the 2nd quarter. FMR LLC now owns 6,756,052 shares of the business services provider’s stock valued at $155,389,000 after acquiring an additional 2,234,269 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of CBIZ by 11.0% during the 2nd quarter. BlackRock Inc. now owns 3,701,179 shares of the business services provider’s stock valued at $85,129,000 after acquiring an additional 366,511 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of CBIZ by 20.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,007,126 shares of the business services provider’s stock valued at $23,164,000 after acquiring an additional 170,200 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of CBIZ during the 2nd quarter valued at $3,013,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of CBIZ during the 2nd quarter valued at $2,502,000. 88.94% of the stock is currently owned by institutional investors.

Several equities research analysts recently weighed in on CBZ shares. William Blair started coverage on CBIZ in a report on Monday, September 17th. They set an “outperform” rating on the stock. Zacks Investment Research raised CBIZ from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd.

In other CBIZ news, insider Ware H. Grove sold 10,000 shares of CBIZ stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $23.75, for a total transaction of $237,500.00. Following the transaction, the insider now directly owns 263,096 shares of the company’s stock, valued at approximately $6,248,530. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael W. Gleespen sold 27,000 shares of CBIZ stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $23.42, for a total value of $632,340.00. Following the transaction, the insider now directly owns 118,880 shares in the company, valued at $2,784,169.60. The disclosure for this sale can be found here. Insiders have sold a total of 82,841 shares of company stock worth $1,960,914 over the last ninety days. Company insiders own 7.20% of the company’s stock.

Shares of CBZ opened at $20.47 on Wednesday. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 23.53 and a beta of 0.62. CBIZ, Inc. has a 12 month low of $14.35 and a 12 month high of $24.38. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.50 and a current ratio of 1.50.

CBIZ (NYSE:CBZ) last announced its earnings results on Wednesday, October 31st. The business services provider reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The firm had revenue of $224.25 million for the quarter, compared to the consensus estimate of $218.67 million. CBIZ had a return on equity of 11.30% and a net margin of 7.34%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. On average, equities research analysts forecast that CBIZ, Inc. will post 1.08 EPS for the current year.

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CBIZ Profile

CBIZ, Inc, through its subsidiaries, provides professional business services, products, and solutions in the United States and Canada. It offers its services through three practice groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services practice group provides accounting and tax compliance and consulting, litigation support, federal and state governmental healthcare compliance, valuation services, real estate consulting, and internal audit outsourcing services.

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Institutional Ownership by Quarter for CBIZ (NYSE:CBZ)

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