Kavar Capital Partners LLC Purchases Shares of 11,798 CBIZ, Inc. (CBZ)
Kavar Capital Partners LLC purchased a new position in shares of CBIZ, Inc. (NYSE:CBZ) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,798 shares of the business services provider’s stock, valued at approximately $280,000.
Several other hedge funds have also modified their holdings of CBZ. Ramsey Quantitative Systems boosted its position in CBIZ by 38.6% in the third quarter. Ramsey Quantitative Systems now owns 8,850 shares of the business services provider’s stock valued at $210,000 after buying an additional 2,467 shares during the last quarter. First Quadrant L P CA purchased a new stake in CBIZ in the third quarter valued at approximately $221,000. Bowling Portfolio Management LLC purchased a new stake in CBIZ in the second quarter valued at approximately $222,000. Macquarie Group Ltd. boosted its position in CBIZ by 89.6% in the second quarter. Macquarie Group Ltd. now owns 9,976 shares of the business services provider’s stock valued at $229,000 after buying an additional 4,715 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in CBIZ in the third quarter valued at approximately $354,000. Institutional investors and hedge funds own 88.94% of the company’s stock.
In other CBIZ news, insider Chris Spurio sold 35,841 shares of the business’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $23.81, for a total value of $853,374.21. Following the completion of the transaction, the insider now directly owns 209,917 shares of the company’s stock, valued at $4,998,123.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael W. Gleespen sold 27,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $23.42, for a total value of $632,340.00. Following the completion of the transaction, the insider now directly owns 118,880 shares of the company’s stock, valued at $2,784,169.60. The disclosure for this sale can be found here. Insiders sold 82,841 shares of company stock valued at $1,960,914 over the last three months. 7.20% of the stock is currently owned by corporate insiders.
Shares of NYSE:CBZ opened at $20.47 on Wednesday. CBIZ, Inc. has a 12-month low of $14.35 and a 12-month high of $24.38. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 17.95 and a beta of 0.62. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.50 and a quick ratio of 1.50.
CBIZ (NYSE:CBZ) last announced its quarterly earnings results on Wednesday, October 31st. The business services provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. CBIZ had a return on equity of 11.30% and a net margin of 7.34%. The company had revenue of $224.25 million during the quarter, compared to the consensus estimate of $218.67 million. During the same period in the previous year, the company posted $0.18 earnings per share. CBIZ’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, sell-side analysts anticipate that CBIZ, Inc. will post 1.08 EPS for the current year.
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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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