Commerce Bank Reduces Stock Position in CBIZ, Inc. (NYSE:CBZ)

Commerce Bank decreased its position in shares of CBIZ, Inc. (NYSE:CBZ) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,023 shares of the business services provider’s stock after selling 240 shares during the quarter. Commerce Bank’s holdings in CBIZ were worth $473,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Quest Partners LLC boosted its position in 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 purchasing an additional 447 shares in the last quarter. Signaturefd LLC raised its stake in shares of CBIZ by 55.8% during the 3rd quarter. Signaturefd LLC now owns 961 shares of the business services provider’s stock worth $65,000 after buying an additional 344 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of CBIZ in the 2nd quarter worth about $82,000. KBC Group NV grew its stake in CBIZ by 29.7% in the 3rd quarter. KBC Group NV now owns 1,553 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 356 shares during the last quarter. Finally, US Bancorp DE increased its holdings in CBIZ by 16.1% during the 3rd quarter. US Bancorp DE now owns 1,796 shares of the business services provider’s stock valued at $121,000 after acquiring an additional 249 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

CBZ has been the topic of several research reports. StockNews.com lowered shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Sidoti raised CBIZ from a “neutral” rating to a “buy” rating and raised their price target for the stock from $80.00 to $86.00 in a research report on Monday, August 12th.

CBIZ Price Performance

NYSE:CBZ opened at $83.00 on Wednesday. CBIZ, Inc. has a 12-month low of $57.01 and a 12-month high of $86.36. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 35.17 and a beta of 0.91. The company’s 50-day moving average is $70.28 and its two-hundred day moving average is $73.11. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.36.

CBIZ (NYSE:CBZ) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. The business had revenue of $438.90 million for the quarter, compared to the consensus estimate of $440.16 million. CBIZ had a net margin of 7.08% and a return on equity of 15.12%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 earnings per share. Research analysts expect that CBIZ, Inc. will post 2.65 EPS for the current 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.