CBIZ, Inc. $CBZ Stake Reduced by Summit Creek Advisors LLC

Summit Creek Advisors LLC trimmed its holdings in CBIZ, Inc. (NYSE:CBZ) by 63.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,133 shares of the business services provider’s stock after selling 78,418 shares during the quarter. Summit Creek Advisors LLC owned 0.08% of CBIZ worth $2,468,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its position in shares of CBIZ by 4.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 23,271 shares of the business services provider’s stock valued at $1,273,000 after acquiring an additional 1,070 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of CBIZ by 99.1% during the third quarter. ProShare Advisors LLC now owns 12,830 shares of the business services provider’s stock valued at $702,000 after purchasing an additional 6,386 shares during the last quarter. Vise Technologies Inc. lifted its holdings in shares of CBIZ by 2.6% during the third quarter. Vise Technologies Inc. now owns 7,364 shares of the business services provider’s stock valued at $403,000 after purchasing an additional 187 shares during the last quarter. MGO One Seven LLC acquired a new position in shares of CBIZ in the 3rd quarter valued at $295,000. Finally, Transmarket Holdings LP acquired a new position in shares of CBIZ in the third quarter worth about $1,909,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CBZ. Weiss Ratings raised CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. William Blair lowered shares of CBIZ from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 23rd. Barrington Research lowered shares of CBIZ from an “outperform” rating to a “hold” rating in a research note on Wednesday, September 16th. CJS Securities lowered shares of CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 price objective on the stock. in a research note on Thursday, July 30th. Finally, US Capital Advisors set a $55.00 target price on shares of CBIZ in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $44.50.

CBIZ Stock Performance

Shares of NYSE CBZ opened at $54.98 on Friday. CBIZ, Inc. has a fifty-two week low of $24.29 and a fifty-two week high of $55.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.50 and a quick ratio of 1.47. The firm has a market capitalization of $2.98 billion, a P/E ratio of 22.44, a P/E/G ratio of 1.30 and a beta of 0.91. The company’s 50 day simple moving average is $54.75 and its 200 day simple moving average is $40.44.

CBIZ (NYSE:CBZ) last released its quarterly earnings data on Monday, October 19th. The business services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.07). The company had revenue of $702.24 million during the quarter, compared to the consensus estimate of $727.08 million. CBIZ had a net margin of 5.33% and a return on equity of 12.74%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.01 EPS. On average, analysts predict that CBIZ, Inc. will post 4.22 EPS for the current year.

About CBIZ

CBIZ, Inc is a professional services company that provides accounting, tax, advisory and business consulting services to businesses, individuals and nonprofit organizations. Its offerings include financial reporting, tax planning and compliance, valuation, transaction support, internal audit and risk-management consulting.

The company has also provided employee and insurance services, including employee benefits consulting, payroll and human resources support, property and casualty insurance brokerage, retirement plan services and risk-management solutions.