Artemis Investment Management LLP Purchases New Position in CBIZ, Inc. (NYSE:CBZ)

Artemis Investment Management LLP acquired a new position in shares of CBIZ, Inc. (NYSE:CBZ) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 218,531 shares of the business services provider’s stock, valued at approximately $17,148,000. Artemis Investment Management LLP owned approximately 0.44% of CBIZ at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of CBIZ by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 2,718,316 shares of the business services provider’s stock valued at $170,139,000 after acquiring an additional 51,127 shares in the last quarter. Burgundy Asset Management Ltd. raised its position in CBIZ by 5.5% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,151,499 shares of the business services provider’s stock valued at $134,662,000 after purchasing an additional 112,117 shares during the last quarter. GW&K Investment Management LLC boosted its stake in shares of CBIZ by 7.6% during the fourth quarter. GW&K Investment Management LLC now owns 1,105,210 shares of the business services provider’s stock valued at $69,175,000 after purchasing an additional 78,515 shares in the last quarter. BloombergSen Inc. boosted its stake in shares of CBIZ by 5.9% during the fourth quarter. BloombergSen Inc. now owns 1,088,951 shares of the business services provider’s stock valued at $68,157,000 after purchasing an additional 60,838 shares in the last quarter. Finally, Capital Research Global Investors bought a new stake in shares of CBIZ during the fourth quarter worth about $47,831,000. Institutional investors own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of CBIZ from a “sell” rating to a “hold” rating in a research report on Thursday.

CBIZ Stock Performance

NYSE CBZ opened at $74.10 on Friday. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 30.00 and a beta of 0.91. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.50. CBIZ, Inc. has a twelve month low of $49.15 and a twelve month high of $80.42. The stock has a fifty day simple moving average of $75.71 and a 200 day simple moving average of $71.52.

CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Thursday, April 25th. The business services provider reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.03). The company had revenue of $494.30 million during the quarter, compared to analyst estimates of $490.88 million. CBIZ had a net margin of 7.65% and a return on equity of 15.43%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 EPS. Sell-side analysts expect that CBIZ, Inc. will post 2.74 EPS for the current 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.