Arizona State Retirement System Reduces Holdings in CBIZ, Inc. (NYSE:CBZ)

Arizona State Retirement System decreased its position in shares of CBIZ, Inc. (NYSE:CBZ) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,535 shares of the business services provider’s stock after selling 310 shares during the period. Arizona State Retirement System’s holdings in CBIZ were worth $785,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CBZ. Deutsche Bank AG increased its position in shares of CBIZ by 53.9% in the 3rd quarter. Deutsche Bank AG now owns 125,341 shares of the business services provider’s stock worth $6,505,000 after purchasing an additional 43,897 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in shares of CBIZ in the 3rd quarter worth about $536,000. Vanguard Group Inc. increased its position in shares of CBIZ by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,667,189 shares of the business services provider’s stock worth $138,427,000 after purchasing an additional 31,477 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of CBIZ in the 3rd quarter worth about $1,560,000. Finally, Burgundy Asset Management Ltd. increased its position in shares of CBIZ by 8.2% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 2,039,382 shares of the business services provider’s stock worth $105,844,000 after purchasing an additional 154,498 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Sidoti lowered shares of CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 price target for the company. in a report on Tuesday, January 2nd.

CBIZ Trading Down 1.4 %

CBIZ stock opened at $73.71 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $74.50 and a two-hundred day moving average price of $64.18. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 30.97 and a beta of 0.83. CBIZ, Inc. has a 52-week low of $49.13 and a 52-week high of $79.55.

CBIZ (NYSE:CBZ) last posted its earnings results on Thursday, February 15th. The business services provider reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.01. The firm had revenue of $327.50 million during the quarter, compared to analyst estimates of $308.87 million. CBIZ had a net margin of 7.60% and a return on equity of 15.49%. CBIZ’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.21) EPS. Sell-side analysts expect that CBIZ, Inc. will post 2.74 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.