WCM Investment Management LLC Buys Shares of 278,955 CBIZ, Inc. $CBZ

WCM Investment Management LLC purchased a new stake in shares of CBIZ, Inc. (NYSE:CBZ) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 278,955 shares of the business services provider’s stock, valued at approximately $15,011,000.

A number of other institutional investors have also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in CBIZ in the 2nd quarter worth about $35,000. Strategic Wealth Investment Group LLC acquired a new stake in shares of CBIZ during the 2nd quarter valued at about $37,000. EverSource Wealth Advisors LLC grew its stake in shares of CBIZ by 165.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 722 shares of the business services provider’s stock valued at $52,000 after buying an additional 450 shares in the last quarter. AlphaQuest LLC increased its holdings in CBIZ by 6,847.1% in the third quarter. AlphaQuest LLC now owns 1,181 shares of the business services provider’s stock worth $63,000 after buying an additional 1,164 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in CBIZ in the second quarter worth approximately $132,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CBZ. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CBIZ in a research report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft started coverage on shares of CBIZ in a research note on Monday, January 12th. They set a “hold” rating and a $60.00 price target on the stock. Finally, CJS Securities raised shares of CBIZ to a “strong-buy” rating in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, CBIZ has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

CBIZ Trading Down 9.1%

Shares of CBZ stock opened at $36.91 on Wednesday. CBIZ, Inc. has a 12 month low of $36.01 and a 12 month high of $90.13. The company has a market cap of $2.01 billion, a PE ratio of 24.29 and a beta of 0.92. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $49.47 and its two-hundred day moving average is $55.17.

Insider Buying and Selling at CBIZ

In other news, CFO Brad S. Lakhia bought 2,060 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were acquired at an average cost of $48.51 per share, for a total transaction of $99,930.60. Following the purchase, the chief financial officer owned 40,584 shares of the company’s stock, valued at $1,968,729.84. This represents a 5.35% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benaree Pratt Wiley sold 8,288 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $49.54, for a total transaction of $410,587.52. Following the transaction, the director directly owned 35,956 shares of the company’s stock, valued at approximately $1,781,260.24. This represents a 18.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.95% of the stock is currently owned by corporate insiders.

CBIZ Company Profile

CBIZ, Inc (NYSE: CBZ), founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.

Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.