Shell Asset Management Co. lowered its stake in CBIZ Inc. (NYSE:CBZ) by 5.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 147,239 shares of the company’s stock after selling 8,358 shares during the period. Shell Asset Management Co.’s holdings in CBIZ were worth $1,533,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. TIAA CREF Investment Management LLC raised its position in CBIZ by 69.9% in the first quarter. TIAA CREF Investment Management LLC now owns 375,584 shares of the company’s stock valued at $3,790,000 after buying an additional 154,562 shares during the last quarter. Barclays PLC raised its position in CBIZ by 278.2% in the first quarter. Barclays PLC now owns 207,670 shares of the company’s stock valued at $2,076,000 after buying an additional 152,754 shares during the last quarter. Dalton Greiner Hartman Maher & Co. raised its position in CBIZ by 43.8% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 210,345 shares of the company’s stock valued at $2,190,000 after buying an additional 64,056 shares during the last quarter. First Manhattan Co. raised its position in CBIZ by 1.8% in the second quarter. First Manhattan Co. now owns 2,894,930 shares of the company’s stock valued at $30,136,000 after buying an additional 52,029 shares during the last quarter. Finally, Magnetar Financial LLC bought a new position in CBIZ during the first quarter valued at about $290,000. 84.62% of the stock is owned by hedge funds and other institutional investors.
Shares of CBIZ Inc. (NYSE:CBZ) traded up 1.18% during trading on Friday, hitting $11.19. The company had a trading volume of 225,198 shares. The stock has a market capitalization of $587.48 million, a price-to-earnings ratio of 15.76 and a beta of 0.67. CBIZ Inc. has a 12-month low of $9.30 and a 12-month high of $11.82. The stock has a 50-day moving average of $11.32 and a 200 day moving average of $10.65.
CBIZ (NYSE:CBZ) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by $0.01. The business earned $197 million during the quarter, compared to analyst estimates of $198.70 million. CBIZ had a net margin of 4.94% and a return on equity of 11.75%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business earned $0.13 earnings per share. On average, analysts predict that CBIZ Inc. will post $0.75 EPS for the current fiscal year.
Several research firms have recently issued reports on CBZ. Zacks Investment Research lowered CBIZ from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Sidoti began coverage on CBIZ in a research report on Tuesday, July 19th. They set a “buy” rating for the company.
In related news, Director Steven L. Gerard sold 46,216 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $11.35, for a total value of $524,551.60. Following the sale, the director now directly owns 385,756 shares of the company’s stock, valued at $4,378,330.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jerome P. Grisko sold 9,090 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $11.08, for a total value of $100,717.20. Following the completion of the sale, the chief executive officer now directly owns 519,074 shares in the company, valued at $5,751,339.92. The disclosure for this sale can be found here. 7.20% of the stock is owned by corporate insiders.
CBIZ, Inc is engaged in providing professional business services, products and solutions to businesses, as well as individuals, governmental entities and not-for-profit enterprises, throughout the United States and parts of Canada. The Company’s business units are aggregated into three practice groups: Financial Services, National Practices and Employee Services.
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