Legal & General Group Plc Invests $1.48 Million in CBIZ, Inc. $CBZ

Legal & General Group Plc bought a new position in CBIZ, Inc. (NYSE:CBZ) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 45,973 shares of the business services provider’s stock, valued at approximately $1,475,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CBZ. BlackRock Inc. purchased a new stake in shares of CBIZ during the second quarter valued at $159,495,000. Durable Capital Partners LP purchased a new position in CBIZ in the 3rd quarter worth about $207,872,000. 22C Capital LLC acquired a new stake in CBIZ during the 4th quarter worth about $161,554,000. Bank of Montreal Can purchased a new stake in CBIZ during the fourth quarter valued at about $113,596,000. Finally, Royce & Associates LP lifted its stake in CBIZ by 389.3% during the fourth quarter. Royce & Associates LP now owns 659,140 shares of the business services provider’s stock valued at $33,254,000 after buying an additional 524,438 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on CBZ shares. Barrington Research began coverage on shares of CBIZ in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $45.00 target price on the stock. Weiss Ratings upgraded shares of CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. CJS Securities lowered shares of CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 price objective for the company. in a research note on Thursday, July 30th. Finally, US Capital Advisors set a $55.00 price objective on shares of CBIZ in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $44.50.

CBIZ Stock Up 0.0%

Shares of CBIZ stock opened at $54.86 on Monday. The stock has a 50-day moving average price of $47.78 and a 200 day moving average price of $36.15. The company has a market cap of $2.98 billion, a P/E ratio of 25.64, a P/E/G ratio of 1.15 and a beta of 0.92. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.74. CBIZ, Inc. has a 1 year low of $24.29 and a 1 year high of $60.19.

CBIZ (NYSE:CBZ) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.19. CBIZ had a return on equity of 12.33% and a net margin of 4.73%.The firm had revenue of $682.21 million during the quarter, compared to analyst estimates of $697.96 million. During the same period last year, the company posted $0.95 EPS. The business’s quarterly revenue was down .2% compared to the same quarter last year. As a group, analysts expect that CBIZ, Inc. will post 4.1 EPS for the current fiscal year.

CBIZ Company Profile

CBIZ, Inc (NYSE: CBZ), founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.

Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.