CenterBook Partners LP Buys New Position in CBIZ, Inc. $CBZ

CenterBook Partners LP acquired a new stake in shares of CBIZ, Inc. (NYSE:CBZ) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 98,406 shares of the business services provider’s stock, valued at approximately $5,212,000.

Other hedge funds have also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in CBIZ during the second quarter worth approximately $35,000. Strategic Wealth Investment Group LLC purchased a new stake in shares of CBIZ during the 2nd quarter valued at $37,000. EverSource Wealth Advisors LLC increased its holdings in shares of 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 buying an additional 450 shares during the last quarter. AlphaQuest LLC raised its position in shares of CBIZ by 6,847.1% in the 3rd quarter. AlphaQuest LLC now owns 1,181 shares of the business services provider’s stock worth $63,000 after buying an additional 1,164 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in CBIZ in the second quarter valued at $132,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

CBIZ Stock Performance

Shares of CBZ opened at $29.85 on Thursday. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 19.64 and a beta of 0.92. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $45.44 and its two-hundred day moving average is $52.18. CBIZ, Inc. has a 52-week low of $27.17 and a 52-week high of $90.13.

Insider Activity at CBIZ

In other CBIZ news, Director Benaree Pratt Wiley sold 8,288 shares of CBIZ stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $49.54, for a total value of $410,587.52. Following the completion of the transaction, the director directly owned 35,956 shares in the company, valued at $1,781,260.24. The trade was a 18.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brad S. Lakhia acquired 2,060 shares of CBIZ stock in a transaction that occurred on Wednesday, November 26th. The shares were bought at an average price of $48.51 per share, with a total value of $99,930.60. Following the transaction, the chief financial officer directly owned 40,584 shares in the company, valued at approximately $1,968,729.84. This trade represents a 5.35% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 4.95% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of CBIZ in a report on Wednesday, January 21st. CJS Securities raised shares of CBIZ to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of CBIZ in a research note on Monday, January 12th. They issued a “hold” rating and a $60.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, CBIZ presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

CBIZ Company 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.