State of New Jersey Common Pension Fund D Takes $1.87 Million Position in CBIZ, Inc. (NYSE:CBZ)

State of New Jersey Common Pension Fund D purchased a new stake in shares of CBIZ, Inc. (NYSE:CBZ) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,711 shares of the business services provider’s stock, valued at approximately $1,865,000.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC grew its holdings in 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 during the period. Covestor Ltd grew its stake in shares of CBIZ by 45.5% during the first quarter. Covestor Ltd now owns 707 shares of the business services provider’s stock worth $56,000 after purchasing an additional 221 shares during the period. Signaturefd LLC increased its holdings in CBIZ by 55.8% in the third quarter. Signaturefd LLC now owns 961 shares of the business services provider’s stock valued at $65,000 after purchasing an additional 344 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in CBIZ in the second quarter valued at about $82,000. Finally, US Bancorp DE boosted its holdings in CBIZ by 16.1% during the third quarter. US Bancorp DE now owns 1,796 shares of the business services provider’s stock worth $121,000 after buying an additional 249 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CBZ shares. StockNews.com raised CBIZ from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Sidoti upgraded shares of CBIZ from a “neutral” rating to a “buy” rating and increased their target price for the stock from $80.00 to $86.00 in a report on Monday, August 12th.

CBIZ Stock Up 0.7 %

NYSE:CBZ opened at $77.00 on Tuesday. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 32.63 and a beta of 0.91. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average price of $68.99 and a two-hundred day moving average price of $72.96. CBIZ, Inc. has a 1 year low of $57.01 and a 1 year high of $86.36.

CBIZ (NYSE:CBZ) last posted its earnings results on Tuesday, October 29th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. The business had revenue of $438.90 million during the quarter, compared to analysts’ expectations of $440.16 million. During the same period in the prior year, the business earned $0.66 EPS. CBIZ’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts expect that CBIZ, Inc. will post 2.65 earnings per share 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.