Advisors Capital Management LLC Takes $237,000 Position in CBIZ, Inc. (NYSE:CBZ)

Advisors Capital Management LLC bought a new stake in CBIZ, Inc. (NYSE:CBZ) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,900 shares of the business services provider’s stock, valued at approximately $237,000.

Several other institutional investors also recently bought and sold shares of CBZ. Stifel Financial Corp increased its stake in CBIZ by 52.3% in the 3rd quarter. Stifel Financial Corp now owns 13,789 shares of the business services provider’s stock worth $928,000 after purchasing an additional 4,738 shares during the period. State Street Corp increased its stake in shares of CBIZ by 0.9% in the third quarter. State Street Corp now owns 1,130,848 shares of the business services provider’s stock worth $76,095,000 after buying an additional 10,555 shares during the period. Barclays PLC raised its holdings 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 buying an additional 61,679 shares during the last quarter. Geode Capital Management LLC boosted its position in CBIZ by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,109,074 shares of the business services provider’s stock valued at $74,644,000 after buying an additional 11,615 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in CBIZ in the 3rd quarter worth $262,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CBZ. StockNews.com downgraded shares of CBIZ from a “hold” rating to a “sell” rating in a research note on Tuesday, February 25th. William Blair reaffirmed an “outperform” rating on shares of CBIZ in a research report on Thursday, February 27th.

Insider Transactions at CBIZ

In other CBIZ news, Director Benaree Pratt Wiley sold 6,526 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $71.75, for a total transaction of $468,240.50. Following the transaction, the director now owns 41,759 shares in the company, valued at approximately $2,996,208.25. This represents a 13.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.40% of the company’s stock.

CBIZ Stock Performance

Shares of CBZ stock opened at $79.48 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average of $77.31 and a 200 day moving average of $77.47. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 33.68 and a beta of 0.90. CBIZ, Inc. has a 52 week low of $62.66 and a 52 week high of $90.13.

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.