Select Equity Group L.P. Reduces Stock Position in CBIZ, Inc. (NYSE:CBZ)

Select Equity Group L.P. cut its holdings in CBIZ, Inc. (NYSE:CBZ) by 10.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,130,568 shares of the business services provider’s stock after selling 131,103 shares during the period. Select Equity Group L.P.’s holdings in CBIZ were worth $83,775,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Quest Partners LLC raised its position in shares of CBIZ by 2,980.0% during the 2nd quarter. Quest Partners LLC now owns 462 shares of the business services provider’s stock worth $34,000 after acquiring an additional 447 shares in the last quarter. Whittier Trust Co. purchased a new stake in shares of CBIZ during the 1st quarter worth approximately $54,000. Covestor Ltd boosted its holdings 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 buying an additional 221 shares in the last quarter. Assetmark Inc. grew its position in shares of CBIZ by 24.8% in the 4th quarter. Assetmark Inc. now owns 905 shares of the business services provider’s stock valued at $57,000 after buying an additional 180 shares during the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in shares of CBIZ in the 2nd quarter valued at $82,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

CBIZ Price Performance

CBZ stock opened at $66.69 on Friday. The business has a 50 day simple moving average of $71.78 and a 200-day simple moving average of $74.51. The company has a market capitalization of $3.34 billion, a P/E ratio of 27.00 and a beta of 0.92. CBIZ, Inc. has a twelve month low of $49.15 and a twelve month high of $86.36. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43.

CBIZ (NYSE:CBZ) last issued 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). The business had revenue of $420.00 million for the quarter, compared to analysts’ expectations of $430.38 million. CBIZ had a return on equity of 14.58% and a net margin of 7.12%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. As a group, equities analysts anticipate that CBIZ, Inc. will post 2.64 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com cut shares of 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 boosted their target price for the company from $80.00 to $86.00 in a report on Monday, August 12th.

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.