CBIZ, Inc. (NYSE:CBZ) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in shares of CBIZ, Inc. (NYSE:CBZ) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,707 shares of the business services provider’s stock after selling 572 shares during the period. The Manufacturers Life Insurance Company’s holdings in CBIZ were worth $1,797,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC lifted its holdings in shares of CBIZ by 2,980.0% in the 2nd quarter. Quest Partners LLC now owns 462 shares of the business services provider’s stock valued at $34,000 after buying an additional 447 shares during the period. Signaturefd LLC raised its position in CBIZ by 55.8% in the third quarter. Signaturefd LLC now owns 961 shares of the business services provider’s stock worth $65,000 after acquiring an additional 344 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in CBIZ in the second quarter valued at $82,000. KBC Group NV boosted its position in shares of CBIZ by 29.7% during the 3rd quarter. KBC Group NV now owns 1,553 shares of the business services provider’s stock worth $105,000 after purchasing an additional 356 shares in the last quarter. Finally, US Bancorp DE grew its stake in shares of CBIZ by 16.1% during the 3rd quarter. US Bancorp DE now owns 1,796 shares of the business services provider’s stock worth $121,000 after purchasing an additional 249 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

CBIZ Stock Down 1.1 %

CBZ opened at $78.01 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 33.06 and a beta of 0.95. CBIZ, Inc. has a one year low of $57.79 and a one year high of $86.36. The business’s fifty day moving average is $73.14 and its two-hundred day moving average is $73.37.

CBIZ (NYSE:CBZ) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. CBIZ had a net margin of 7.08% and a return on equity of 15.12%. The business had revenue of $438.90 million for the quarter, compared to analyst estimates of $440.16 million. During the same period in the previous year, the firm earned $0.66 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts anticipate that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com cut shares of CBIZ from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Sidoti raised shares of CBIZ from a “neutral” rating to a “buy” rating and increased their target price for the company from $80.00 to $86.00 in a report on Monday, August 12th.

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.