CBIZ, Inc. $CBZ Shares Sold by Summit Creek Advisors LLC

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

A number of other large investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of CBIZ in the 2nd quarter valued at about $27,000. North Point Portfolio Managers Corp OH acquired a new position in shares of CBIZ during the third quarter worth about $27,000. Public Employees Retirement System of Ohio acquired a new position in shares of CBIZ during the second quarter worth about $31,000. EverSource Wealth Advisors LLC boosted its position in shares of CBIZ by 667.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,512 shares of the business services provider’s stock worth $41,000 after buying an additional 1,315 shares during the period. Finally, Montgomery Financial Services LLC bought a new position in shares of CBIZ during the second quarter worth about $48,000. Institutional investors own 87.44% of the company’s stock.

CBIZ Stock Performance

CBIZ stock opened at $54.98 on Friday. The firm has a 50-day moving average of $54.75 and a 200-day moving average of $40.44. CBIZ, Inc. has a one year low of $24.29 and a one year 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 company has a market cap of $2.98 billion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 1.30 and a beta of 0.91.

CBIZ (NYSE:CBZ) last announced its quarterly earnings data on Monday, October 19th. The business services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate 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%. CBIZ’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 EPS. On average, equities analysts expect that CBIZ, Inc. will post 4.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CBZ shares. Weiss Ratings raised CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. US Capital Advisors set a $55.00 target price on CBIZ in a research note on Thursday, July 30th. William Blair downgraded CBIZ from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 23rd. Barrington Research cut shares of CBIZ from an “outperform” rating to a “hold” rating in a research note on Wednesday, September 16th. Finally, CJS Securities downgraded 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 report on Thursday, July 30th. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $44.50.

CBIZ Company Profile

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.