Rhumbline Advisers Raises Stock Holdings in CBIZ, Inc. (NYSE:CBZ)

Rhumbline Advisers raised its holdings in shares of CBIZ, Inc. (NYSE:CBZ) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,298 shares of the business services provider’s stock after purchasing an additional 2,620 shares during the quarter. Rhumbline Advisers owned 0.14% of CBIZ worth $5,357,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CBZ. Goldman Sachs Group Inc. raised its holdings in CBIZ by 12.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 507,824 shares of the business services provider’s stock worth $31,785,000 after purchasing an additional 54,573 shares in the last quarter. Capital World Investors acquired a new stake in CBIZ during the 1st quarter valued at approximately $40,590,000. Artemis Investment Management LLP purchased a new stake in CBIZ in the first quarter valued at $17,148,000. Vanguard Group Inc. lifted its holdings in CBIZ by 36.3% in the first quarter. Vanguard Group Inc. now owns 3,705,090 shares of the business services provider’s stock valued at $290,850,000 after acquiring an additional 986,774 shares during the period. Finally, Norges Bank acquired a new position in shares of CBIZ in the 4th quarter valued at $19,874,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. StockNews.com lowered CBIZ from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Sidoti raised shares of CBIZ from a “neutral” rating to a “buy” rating and raised their price objective for the company from $80.00 to $86.00 in a research note on Monday, August 12th.

CBIZ Stock Up 1.3 %

CBZ stock opened at $67.75 on Friday. The company’s 50 day moving average price is $73.73 and its 200 day moving average price is $75.04. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 27.43 and a beta of 0.92. CBIZ, Inc. has a fifty-two week low of $49.15 and a fifty-two week high of $86.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.48 and a current ratio of 1.48.

CBIZ (NYSE:CBZ) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.29). The business had revenue of $420.00 million during the quarter, compared to analyst estimates of $430.38 million. CBIZ had a net margin of 7.12% and a return on equity of 14.58%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. On average, equities research analysts anticipate that CBIZ, Inc. will post 2.64 EPS 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.