CenterBook Partners LP Invests $5.21 Million in CBIZ, Inc. $CBZ

CenterBook Partners LP acquired a new position in shares of CBIZ, Inc. (NYSE:CBZ) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 98,406 shares of the business services provider’s stock, valued at approximately $5,212,000. CenterBook Partners LP owned approximately 0.18% of CBIZ as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CBZ. PNC Financial Services Group Inc. raised its position in shares of CBIZ by 5.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,798 shares of the business services provider’s stock valued at $254,000 after buying an additional 227 shares during the period. Balyasny Asset Management L.P. increased its stake in CBIZ by 4.9% during the second quarter. Balyasny Asset Management L.P. now owns 4,969 shares of the business services provider’s stock worth $356,000 after acquiring an additional 230 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in CBIZ by 0.8% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,529 shares of the business services provider’s stock valued at $2,117,000 after purchasing an additional 235 shares during the period. Ethic Inc. lifted its stake in shares of CBIZ by 7.5% in the 3rd quarter. Ethic Inc. now owns 4,050 shares of the business services provider’s stock valued at $214,000 after purchasing an additional 283 shares during the last quarter. Finally, Huntington National Bank increased its position in shares of CBIZ by 15.7% during the 2nd quarter. Huntington National Bank now owns 2,228 shares of the business services provider’s stock worth $160,000 after purchasing an additional 302 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity at CBIZ

In related news, Director Benaree Pratt Wiley sold 8,288 shares of CBIZ stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $49.54, for a total value of $410,587.52. Following the transaction, the director directly owned 35,956 shares in the company, valued at $1,781,260.24. This trade represents a 18.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brad S. Lakhia bought 2,060 shares of the stock in a transaction dated Wednesday, November 26th. The stock was purchased at an average cost of $48.51 per share, for a total transaction of $99,930.60. Following the acquisition, the chief financial officer owned 40,584 shares of the company’s stock, valued at approximately $1,968,729.84. This represents a 5.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 4.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CBZ. Deutsche Bank Aktiengesellschaft started coverage on shares of CBIZ in a research note on Monday, January 12th. They issued a “hold” rating and a $60.00 price target on the stock. CJS Securities raised CBIZ to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of CBIZ in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $60.00.

CBIZ Stock Up 6.5%

Shares of NYSE CBZ opened at $29.85 on Thursday. The business has a 50-day moving average of $45.44 and a two-hundred day moving average of $52.18. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 19.64 and a beta of 0.92. CBIZ, Inc. has a 1 year low of $27.17 and a 1 year high of $90.13. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.57 and a quick ratio of 1.57.

CBIZ 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.