Laurus Investment Counsel Inc. Reduces Position in CBIZ, Inc. (NYSE:CBZ)

Laurus Investment Counsel Inc. lessened its holdings in shares of CBIZ, Inc. (NYSE:CBZ) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,600 shares of the business services provider’s stock after selling 2,600 shares during the period. CBIZ comprises approximately 1.7% of Laurus Investment Counsel Inc.’s investment portfolio, making the stock its 17th biggest position. Laurus Investment Counsel Inc. owned 0.11% of CBIZ worth $3,543,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. MetLife Investment Management LLC boosted its holdings in shares of CBIZ by 60.8% in the first quarter. MetLife Investment Management LLC now owns 26,273 shares of the business services provider’s stock valued at $1,103,000 after purchasing an additional 9,933 shares during the period. Aviva PLC purchased a new stake in shares of CBIZ in the first quarter valued at approximately $1,557,000. Vanguard Group Inc. boosted its holdings in shares of CBIZ by 0.9% in the first quarter. Vanguard Group Inc. now owns 2,551,939 shares of the business services provider’s stock valued at $107,105,000 after purchasing an additional 23,498 shares during the period. Prudential Financial Inc. purchased a new stake in CBIZ during the first quarter worth $1,203,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in CBIZ by 2.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 495,903 shares of the business services provider’s stock worth $20,814,000 after buying an additional 13,262 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

Separately, Sidoti downgraded CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 target price on the stock. in a research report on Tuesday, January 2nd.

CBIZ Stock Down 0.2 %

CBZ stock opened at $77.92 on Thursday. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 32.74 and a beta of 0.83. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.39. CBIZ, Inc. has a 12 month low of $48.10 and a 12 month high of $78.91. The firm has a 50-day moving average of $71.08 and a two-hundred day moving average of $61.79.

CBIZ (NYSE:CBZ) last announced 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 company had revenue of $327.50 million for the quarter, compared to analyst estimates of $308.87 million. CBIZ had a return on equity of 15.49% and a net margin of 7.60%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.21) earnings per share. As a group, analysts forecast that CBIZ, Inc. will post 2.74 earnings per share for the current fiscal year.

CBIZ 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.