Thoroughbred Financial Services LLC Purchases New Shares in CBIZ, Inc. (NYSE:CBZ)

Thoroughbred Financial Services LLC acquired a new position in shares of CBIZ, Inc. (NYSE:CBZ) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,342 shares of the business services provider’s stock, valued at approximately $247,000.

Other institutional investors also recently bought and sold shares of the company. Quest Partners LLC boosted its stake 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 buying an additional 447 shares during the period. Whittier Trust Co. acquired a new stake in CBIZ during the 1st quarter worth approximately $54,000. Covestor Ltd grew its stake in shares of CBIZ by 45.5% in the 1st quarter. Covestor Ltd now owns 707 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 221 shares during the last quarter. Assetmark Inc. increased its holdings in shares of CBIZ by 24.8% in the fourth quarter. Assetmark Inc. now owns 905 shares of the business services provider’s stock valued at $57,000 after purchasing an additional 180 shares during the period. Finally, Johnson Financial Group Inc. purchased a new stake in shares of CBIZ during the fourth quarter worth approximately $63,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CBZ shares. StockNews.com lowered shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Sidoti upgraded shares of CBIZ from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $86.00 in a research note on Monday, August 12th.

CBIZ Stock Performance

Shares of CBZ stock opened at $67.78 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $73.61 and a 200-day simple moving average of $74.99. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 27.44 and a beta of 0.92. CBIZ, Inc. has a 12-month low of $49.15 and a 12-month high of $86.36.

CBIZ (NYSE:CBZ) last released its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.39 earnings per share (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 business had revenue of $420.00 million during the quarter, compared to analysts’ expectations of $430.38 million. During the same quarter in the previous year, the company posted $0.55 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts forecast that CBIZ, Inc. will post 2.64 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.