Schwab Charles Investment Management Inc. raised its position in shares of CBIZ, Inc. (NYSE:CBZ) by 7.8% during the first quarter, Holdings Channel reports. The fund owned 291,982 shares of the business services provider’s stock after buying an additional 21,209 shares during the period. Schwab Charles Investment Management Inc.’s holdings in CBIZ were worth $3,957,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd purchased a new stake in shares of CBIZ during the first quarter worth about $215,000. American International Group Inc. increased its position in CBIZ by 7.1% in the first quarter. American International Group Inc. now owns 30,401 shares of the business services provider’s stock valued at $412,000 after buying an additional 2,013 shares during the last quarter. Prudential Financial Inc. increased its position in CBIZ by 348.2% in the first quarter. Prudential Financial Inc. now owns 55,992 shares of the business services provider’s stock valued at $759,000 after buying an additional 43,500 shares during the last quarter. Nordea Investment Management AB increased its position in CBIZ by 210.7% in the first quarter. Nordea Investment Management AB now owns 301,400 shares of the business services provider’s stock valued at $4,084,000 after buying an additional 204,400 shares during the last quarter. Finally, Martingale Asset Management L P increased its position in CBIZ by 1.9% in the first quarter. Martingale Asset Management L P now owns 176,234 shares of the business services provider’s stock valued at $2,388,000 after buying an additional 3,300 shares during the last quarter. Institutional investors and hedge funds own 85.12% of the company’s stock.

CBIZ, Inc. (CBZ) traded up 0.34% during midday trading on Wednesday, reaching $14.85. The company’s stock had a trading volume of 12,794 shares. CBIZ, Inc. has a 52-week low of $10.73 and a 52-week high of $15.90. The stock has a market capitalization of $806.76 million, a price-to-earnings ratio of 17.57 and a beta of 0.91. The firm has a 50-day moving average price of $14.97 and a 200 day moving average price of $14.50.

CBIZ (NYSE:CBZ) last posted its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The company had revenue of $211 million during the quarter, compared to analyst estimates of $207.42 million. CBIZ had a net margin of 5.54% and a return on equity of 9.42%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.16 earnings per share. Equities research analysts predict that CBIZ, Inc. will post $0.87 EPS for the current fiscal year.

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CBZ has been the subject of several recent research reports. Zacks Investment Research raised CBIZ from a “hold” rating to a “strong-buy” rating and set a $17.00 price target for the company in a research report on Friday, August 4th. BidaskClub lowered CBIZ from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Finally, ValuEngine raised CBIZ from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd.

In other CBIZ news, insider Michael W. Gleespen sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $15.01, for a total value of $120,080.00. Following the transaction, the insider now directly owns 101,712 shares of the company’s stock, valued at $1,526,697.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ware H. Grove sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $15.10, for a total transaction of $377,500.00. Following the completion of the transaction, the insider now directly owns 258,272 shares in the company, valued at $3,899,907.20. The disclosure for this sale can be found here. Insiders have sold 55,927 shares of company stock worth $847,217 over the last three months. 7.20% of the stock is owned by insiders.

CBIZ Company Profile

CBIZ, Inc (CBIZ) is engaged in the professional services business. The Company operates its professional services business through acquiring and integrating accounting and financial service providers, group health benefits consulting firms, property and casualty brokerage firms, payroll service providers, and valuation and other service firms throughout the United States.

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Institutional Ownership by Quarter for CBIZ (NYSE:CBZ)

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