Envestnet Asset Management Inc. Acquires 41,257 Shares of CBIZ, Inc. (NYSE:CBZ)

Envestnet Asset Management Inc. lifted its position in shares of CBIZ, Inc. (NYSE:CBZ) by 98.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,263 shares of the business services provider’s stock after purchasing an additional 41,257 shares during the quarter. Envestnet Asset Management Inc.’s holdings in CBIZ were worth $6,170,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Thoroughbred Financial Services LLC acquired a new stake in shares of CBIZ during the 2nd quarter worth approximately $247,000. Quest Partners LLC raised its position in shares of CBIZ by 2,980.0% during the second quarter. Quest Partners LLC now owns 462 shares of the business services provider’s stock worth $34,000 after acquiring an additional 447 shares during the last quarter. Summit Creek Advisors LLC raised its position in shares of CBIZ by 103.3% during the second quarter. Summit Creek Advisors LLC now owns 216,768 shares of the business services provider’s stock worth $16,063,000 after acquiring an additional 110,153 shares during the last quarter. Arizona State Retirement System raised its position in shares of CBIZ by 2.2% during the second quarter. Arizona State Retirement System now owns 12,603 shares of the business services provider’s stock worth $934,000 after acquiring an additional 275 shares during the last quarter. Finally, Chase Investment Counsel Corp increased its holdings in shares of CBIZ by 3.9% in the second quarter. Chase Investment Counsel Corp now owns 33,103 shares of the business services provider’s stock worth $2,297,000 after acquiring an additional 1,236 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. StockNews.com cut CBIZ from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Sidoti raised CBIZ from a “neutral” rating to a “buy” rating and raised their target price for the company from $80.00 to $86.00 in a report on Monday, August 12th.

CBIZ Stock Up 0.2 %

Shares of CBIZ stock opened at $66.82 on Monday. CBIZ, Inc. has a one year low of $49.15 and a one year high of $86.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.48. The stock’s 50-day moving average is $71.43 and its 200 day moving average is $74.46. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 27.05 and a beta of 0.92.

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

About CBIZ

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.