Sanders Morris Harris LLC Invests $267,000 in CBIZ, Inc. (NYSE:CBZ)

Sanders Morris Harris LLC purchased a new stake in shares of CBIZ, Inc. (NYSE:CBZ) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,400 shares of the business services provider’s stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CBZ. Charles Schwab Investment Management Inc. boosted its stake in CBIZ by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 495,356 shares of the business services provider’s stock valued at $25,709,000 after buying an additional 11,634 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of CBIZ by 7.1% in the 3rd quarter. HighTower Advisors LLC now owns 15,169 shares of the business services provider’s stock valued at $789,000 after purchasing an additional 1,000 shares during the last quarter. UBS Group AG lifted its stake in shares of CBIZ by 1.9% in the 3rd quarter. UBS Group AG now owns 68,482 shares of the business services provider’s stock valued at $3,554,000 after purchasing an additional 1,266 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of CBIZ by 53.9% in the 3rd quarter. Deutsche Bank AG now owns 125,341 shares of the business services provider’s stock valued at $6,505,000 after purchasing an additional 43,897 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of CBIZ by 4.5% in the 3rd quarter. Rhumbline Advisers now owns 72,851 shares of the business services provider’s stock valued at $3,781,000 after purchasing an additional 3,156 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded CBIZ from a “hold” rating to a “sell” rating in a report on Friday, April 26th.

CBIZ Stock Down 0.7 %

Shares of CBZ traded down $0.54 during trading hours on Friday, hitting $75.02. The company had a trading volume of 612,956 shares, compared to its average volume of 268,451. The company has a market capitalization of $3.76 billion, a PE ratio of 30.37 and a beta of 0.91. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. CBIZ, Inc. has a one year low of $49.15 and a one year high of $80.42. The company’s fifty day moving average price is $75.73 and its two-hundred day moving average price is $71.05.

CBIZ (NYSE:CBZ) last announced its earnings results on Thursday, April 25th. The business services provider reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.03). CBIZ had a net margin of 7.65% and a return on equity of 15.43%. The business had revenue of $494.30 million for the quarter, compared to analyst estimates of $490.88 million. During the same period in the prior year, the company earned $1.46 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities analysts forecast that CBIZ, Inc. will post 2.74 earnings per share for the current fiscal year.

CBIZ Profile

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.