Geode Capital Management LLC increased its position in CBIZ, Inc. (NYSE:CBZ) by 3.3% during the first quarter, Holdings Channel reports. The institutional investor owned 430,679 shares of the business services provider’s stock after buying an additional 13,680 shares during the period. Geode Capital Management LLC’s holdings in CBIZ were worth $5,835,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in shares of CBIZ by 2.6% in the first quarter. Ameriprise Financial Inc. now owns 13,710 shares of the business services provider’s stock worth $186,000 after buying an additional 350 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of CBIZ during the first quarter worth approximately $215,000. Karp Capital Management Corp bought a new position in shares of CBIZ during the first quarter worth approximately $289,000. American International Group Inc. boosted its position in shares of CBIZ by 7.1% in the first quarter. American International Group Inc. now owns 30,401 shares of the business services provider’s stock worth $412,000 after buying an additional 2,013 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of CBIZ by 6.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 35,615 shares of the business services provider’s stock worth $488,000 after buying an additional 2,057 shares in the last quarter. 84.77% of the stock is currently owned by institutional investors.
CBIZ, Inc. (CBZ) opened at 14.45 on Thursday. The company has a 50-day moving average price of $15.03 and a 200-day moving average price of $14.44. The company has a market capitalization of $785.03 million, a PE ratio of 17.10 and a beta of 0.91. CBIZ, Inc. has a one year low of $10.73 and a one year high of $15.90.
CBIZ (NYSE:CBZ) last posted its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. CBIZ had a net margin of 5.54% and a return on equity of 9.42%. The company had revenue of $211 million for the quarter, compared to analyst estimates of $207.42 million. During the same period in the prior year, the company earned $0.16 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. Analysts expect that CBIZ, Inc. will post $0.87 earnings per share for the current fiscal year.
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A number of brokerages recently commented on CBZ. Zacks Investment Research raised CBIZ from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a report on Friday, August 4th. BidaskClub cut CBIZ from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, ValuEngine raised CBIZ from a “hold” rating to a “buy” rating in a report on Friday, June 2nd.
In other news, insider Michael W. Gleespen sold 8,000 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $15.01, for a total transaction of $120,080.00. Following the sale, the insider now directly owns 101,712 shares of the company’s stock, valued at approximately $1,526,697.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ware H. Grove sold 12,000 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $15.24, for a total transaction of $182,880.00. Following the sale, the insider now directly owns 265,100 shares in the company, valued at $4,040,124. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,927 shares of company stock worth $1,182,297. 7.20% of the stock is owned by corporate insiders.
CBIZ Company Profile
CBIZ, Inc (CBIZ) is engaged in the professional services business. The Company operates its professional services business through acquiring and integrating accounting and financial service providers, group health benefits consulting firms, property and casualty brokerage firms, payroll service providers, and valuation and other service firms throughout the United States.
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