First Trust Advisors LP Has $1.67 Million Stock Position in CBIZ, Inc. $CBZ

First Trust Advisors LP raised its stake in CBIZ, Inc. (NYSE:CBZ) by 236.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,286 shares of the business services provider’s stock after acquiring an additional 43,758 shares during the quarter. First Trust Advisors LP owned about 0.12% of CBIZ worth $1,672,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its position in shares of CBIZ by 377.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 559 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 442 shares during the last quarter. Strategic Wealth Investment Group LLC bought a new position in shares of CBIZ during the second quarter worth approximately $37,000. Danske Bank A S acquired a new stake in CBIZ during the 3rd quarter worth approximately $42,000. Torren Management LLC acquired a new stake in CBIZ during the 4th quarter worth approximately $48,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in CBIZ by 165.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 722 shares of the business services provider’s stock worth $52,000 after purchasing an additional 450 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

CBIZ Stock Up 0.1%

NYSE CBZ opened at $54.52 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.63 and a debt-to-equity ratio of 0.74. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 1.14 and a beta of 0.93. The company has a 50 day moving average of $39.00 and a 200-day moving average of $33.81. CBIZ, Inc. has a 1-year low of $24.29 and a 1-year high of $67.24.

CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.19. CBIZ had a return on equity of 12.33% and a net margin of 4.73%.The business had revenue of $682.21 million for the quarter, compared to the consensus estimate of $697.96 million. During the same quarter in the prior year, the business posted $0.95 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities research analysts expect that CBIZ, Inc. will post 4.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on CBZ shares. US Capital Advisors set a $55.00 price objective on CBIZ in a report on Thursday, July 30th. Barrington Research began coverage on CBIZ in a report on Wednesday, June 24th. They set an “outperform” rating and a $45.00 target price for the company. Stephens set a $37.00 target price on CBIZ in a report on Friday, May 1st. Weiss Ratings raised shares of CBIZ from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $42.00 price target on shares of CBIZ in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $44.50.

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.