First Manhattan CO. LLC. Lowers Stake in CBIZ, Inc. (NYSE:CBZ)

First Manhattan CO. LLC. decreased its stake in shares of CBIZ, Inc. (NYSE:CBZ) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,580 shares of the business services provider’s stock after selling 550 shares during the quarter. First Manhattan CO. LLC.’s holdings in CBIZ were worth $11,913,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. raised its holdings in CBIZ by 157.2% in the 4th quarter. Invesco Ltd. now owns 769,209 shares of the business services provider’s stock worth $62,944,000 after acquiring an additional 470,095 shares during the last quarter. Wellington Management Group LLP bought a new stake in CBIZ in the 4th quarter worth about $32,859,000. Capital World Investors raised its position in CBIZ by 37.6% in the 4th quarter. Capital World Investors now owns 1,134,585 shares of the business services provider’s stock worth $92,843,000 after buying an additional 309,785 shares during the last quarter. Norges Bank bought a new position in CBIZ during the 4th quarter valued at about $12,096,000. Finally, Geneva Capital Management LLC boosted its holdings in shares of CBIZ by 49.7% during the 4th quarter. Geneva Capital Management LLC now owns 423,407 shares of the business services provider’s stock valued at $34,647,000 after acquiring an additional 140,493 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

CBIZ Price Performance

NYSE CBZ opened at $72.42 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.49 and a current ratio of 1.49. The business’s fifty day moving average is $72.94 and its 200 day moving average is $78.13. The company has a market capitalization of $3.94 billion, a PE ratio of 30.69 and a beta of 0.91. CBIZ, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $90.13.

CBIZ (NYSE:CBZ) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.18. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. The company had revenue of $838.01 million during the quarter, compared to the consensus estimate of $860.25 million. During the same period in the previous year, the company posted $1.54 EPS. The firm’s revenue was up 69.5% on a year-over-year basis. Sell-side analysts predict that CBIZ, Inc. will post 2.65 earnings per share for the current year.

Insider Transactions at CBIZ

In other CBIZ news, Director Benaree Pratt Wiley sold 6,526 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $71.75, for a total value of $468,240.50. Following the completion of the sale, the director now owns 41,759 shares in the company, valued at approximately $2,996,208.25. This represents a 13.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.95% of the company’s stock.

Analyst Upgrades and Downgrades

CBZ has been the topic of a number of research analyst reports. William Blair restated an “outperform” rating on shares of CBIZ in a research report on Friday, April 25th. StockNews.com lowered shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th.

About CBIZ

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through Financial Services, Benefits and Insurance Services, and National Practices segments. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.