Bank of America Corp DE Increases Stake in CBIZ, Inc. (NYSE:CBZ)

Bank of America Corp DE boosted its position in shares of CBIZ, Inc. (NYSE:CBZ) by 3.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 431,750 shares of the business services provider’s stock after purchasing an additional 14,006 shares during the quarter. Bank of America Corp DE owned about 0.86% of CBIZ worth $35,330,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CBZ. Barclays PLC grew its position in CBIZ by 362.1% during the 3rd quarter. Barclays PLC now owns 78,711 shares of the business services provider’s stock valued at $5,298,000 after purchasing an additional 61,679 shares during the last quarter. Argent Capital Management LLC grew its position in CBIZ by 13.3% during the 4th quarter. Argent Capital Management LLC now owns 86,079 shares of the business services provider’s stock valued at $7,044,000 after purchasing an additional 10,098 shares during the last quarter. Artemis Investment Management LLP grew its position in CBIZ by 18.5% during the 4th quarter. Artemis Investment Management LLP now owns 393,910 shares of the business services provider’s stock valued at $32,234,000 after purchasing an additional 61,376 shares during the last quarter. Nisa Investment Advisors LLC grew its position in CBIZ by 31.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,227 shares of the business services provider’s stock valued at $182,000 after purchasing an additional 529 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in CBIZ by 7.2% during the 4th quarter. SG Americas Securities LLC now owns 2,536 shares of the business services provider’s stock valued at $208,000 after purchasing an additional 170 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CBIZ

In other news, Director Benaree Pratt Wiley sold 6,526 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $71.75, for a total value of $468,240.50. Following the transaction, the director now owns 41,759 shares in the company, valued at $2,996,208.25. This represents a 13.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.95% of the company’s stock.

CBIZ Price Performance

CBZ opened at $72.94 on Friday. 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 stock has a market capitalization of $3.97 billion, a P/E ratio of 30.91 and a beta of 0.91. The company’s 50-day simple moving average is $73.06 and its two-hundred day simple moving average is $78.32. CBIZ, Inc. has a 52-week low of $62.66 and a 52-week high of $90.13.

CBIZ (NYSE:CBZ) last posted its earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.18. CBIZ had a net margin of 7.08% and a return on equity of 15.12%. The business had revenue of $838.01 million for the quarter, compared to analysts’ expectations of $860.25 million. During the same quarter in the prior year, the business earned $1.54 EPS. The business’s revenue for the quarter was up 69.5% compared to the same quarter last year. As a group, analysts predict that CBIZ, Inc. will post 2.65 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. StockNews.com cut shares of CBIZ from a “hold” rating to a “sell” rating in a research note on Tuesday, February 25th. William Blair restated an “outperform” rating on shares of CBIZ in a research note on Friday, April 25th.

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.