Truist Financial Corp Increases Holdings in CBIZ, Inc. (NYSE:CBZ)

Truist Financial Corp increased its stake in CBIZ, Inc. (NYSE:CBZ) by 7.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,978 shares of the business services provider’s stock after acquiring an additional 723 shares during the period. Truist Financial Corp’s holdings in CBIZ were worth $813,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of CBIZ by 36.3% in the 1st quarter. Vanguard Group Inc. now owns 3,705,090 shares of the business services provider’s stock valued at $290,850,000 after purchasing an additional 986,774 shares during the last quarter. Capital Research Global Investors boosted its stake in CBIZ by 309.4% during the first quarter. Capital Research Global Investors now owns 3,128,738 shares of the business services provider’s stock worth $245,606,000 after buying an additional 2,364,545 shares during the period. Burgundy Asset Management Ltd. increased its position in CBIZ by 1.8% during the second quarter. Burgundy Asset Management Ltd. now owns 2,220,013 shares of the business services provider’s stock valued at $164,503,000 after acquiring an additional 40,215 shares during the last quarter. Capital World Investors purchased a new stake in shares of CBIZ in the first quarter valued at $40,590,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of CBIZ by 12.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 507,824 shares of the business services provider’s stock worth $31,785,000 after acquiring an additional 54,573 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CBZ has been the topic of a number of recent analyst reports. StockNews.com lowered shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Sidoti upgraded CBIZ from a “neutral” rating to a “buy” rating and increased their price target for the stock from $80.00 to $86.00 in a report on Monday, August 12th.

CBIZ Trading Up 0.1 %

NYSE CBZ opened at $65.40 on Tuesday. The stock has a market cap of $3.28 billion, a PE ratio of 26.48 and a beta of 0.92. CBIZ, Inc. has a 12 month low of $49.15 and a 12 month high of $86.36. The company’s 50-day moving average price is $68.31 and its 200-day moving average price is $73.56. 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 earnings results on Thursday, August 1st. The business services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.29). CBIZ had a return on equity of 14.58% and a net margin of 7.12%. The company had revenue of $420.00 million during the quarter, compared to the consensus estimate of $430.38 million. During the same quarter in the prior year, the company earned $0.55 earnings per share. CBIZ’s revenue was up 5.4% on a year-over-year basis. Equities research analysts forecast that CBIZ, Inc. will post 2.64 earnings per share for the current year.

CBIZ Company 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.