Schwab Charles Investment Management Inc. Raises Holdings in CBIZ, Inc. (CBZ)
Schwab Charles Investment Management Inc. boosted its holdings in shares of CBIZ, Inc. (NYSE:CBZ) by 18.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 346,768 shares of the business services provider’s stock after purchasing an additional 54,786 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.65% of CBIZ worth $5,202,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Karp Capital Management Corp purchased a new position in CBIZ during the 1st quarter worth $289,000. American International Group Inc. grew its position in CBIZ by 7.1% during the 1st quarter. American International Group Inc. now owns 30,401 shares of the business services provider’s stock worth $412,000 after purchasing an additional 2,013 shares during the last quarter. Ameriprise Financial Inc. grew its position in CBIZ by 2.6% during the 1st quarter. Ameriprise Financial Inc. now owns 13,710 shares of the business services provider’s stock worth $186,000 after purchasing an additional 350 shares during the last quarter. Geode Capital Management LLC grew its position in CBIZ by 3.3% during the 1st quarter. Geode Capital Management LLC now owns 430,679 shares of the business services provider’s stock worth $5,835,000 after purchasing an additional 13,680 shares during the last quarter. Finally, Gotham Asset Management LLC purchased a new position in CBIZ during the 1st quarter worth $151,000. 85.55% of the stock is currently owned by institutional investors.
Shares of CBIZ, Inc. (NYSE:CBZ) opened at 16.85 on Friday. The company has a 50 day moving average of $15.69 and a 200 day moving average of $15.10. CBIZ, Inc. has a 52 week low of $10.73 and a 52 week high of $17.00. The firm has a market cap of $915.41 million, a PE ratio of 19.94 and a beta of 0.90.
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, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. CBIZ had a net margin of 5.54% and a return on equity of 9.42%. The company had revenue of $211.00 million during the quarter, compared to analyst estimates of $207.42 million. During the same quarter last year, the firm posted $0.16 EPS. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts anticipate that CBIZ, Inc. will post $0.87 EPS for the current fiscal year.
In other news, insider Ware H. Grove sold 25,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $15.06, for a total value of $376,500.00. Following the completion of the sale, the insider now directly owns 282,172 shares of the company’s stock, valued at $4,249,510.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Spurio sold 16,250 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $15.18, for a total transaction of $246,675.00. Following the completion of the sale, the insider now directly owns 191,293 shares of the company’s stock, valued at $2,903,827.74. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.
Several brokerages have recently weighed in on CBZ. BidaskClub downgraded shares of CBIZ from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Zacks Investment Research raised shares of CBIZ from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a report on Friday, August 4th. Finally, ValuEngine upgraded shares of CBIZ from a “hold” rating to a “buy” rating in a research note on Friday, September 1st.
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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