CBIZ, Inc. (NYSE:CBZ) Shares Purchased by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. boosted its position in shares of CBIZ, Inc. (NYSE:CBZ) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,220,013 shares of the business services provider’s stock after acquiring an additional 40,215 shares during the period. CBIZ comprises 1.7% of Burgundy Asset Management Ltd.’s investment portfolio, making the stock its 19th biggest holding. Burgundy Asset Management Ltd. owned about 4.43% of CBIZ worth $164,503,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CBZ. Capital Research Global Investors raised its stake in CBIZ by 309.4% in the first quarter. Capital Research Global Investors now owns 3,128,738 shares of the business services provider’s stock valued at $245,606,000 after buying an additional 2,364,545 shares in the last quarter. Vanguard Group Inc. raised its position in shares of CBIZ by 36.3% during the 1st quarter. Vanguard Group Inc. now owns 3,705,090 shares of the business services provider’s stock worth $290,850,000 after acquiring an additional 986,774 shares in the last quarter. Capital World Investors purchased a new stake in CBIZ during the first quarter worth approximately $40,590,000. Norges Bank acquired a new position in CBIZ in the fourth quarter valued at approximately $19,874,000. Finally, Public Employees Retirement Association of Colorado purchased a new position in CBIZ in the fourth quarter valued at approximately $17,804,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

CBIZ Stock Down 0.9 %

Shares of NYSE:CBZ opened at $67.18 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market cap of $3.37 billion, a P/E ratio of 27.20 and a beta of 0.92. CBIZ, Inc. has a 1-year low of $49.15 and a 1-year high of $86.36. The firm has a fifty day moving average price of $73.35 and a 200 day moving average price of $74.87.

CBIZ (NYSE:CBZ) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.29). The company had revenue of $420.00 million for the quarter, compared to analysts’ expectations of $430.38 million. CBIZ had a return on equity of 14.58% and a net margin of 7.12%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 EPS. Sell-side analysts predict that CBIZ, Inc. will post 2.64 EPS for the current year.

Analysts Set New Price Targets

CBZ has been the subject of several research analyst reports. Sidoti upgraded shares of CBIZ from a “neutral” rating to a “buy” rating and upped their target price for the company from $80.00 to $86.00 in a report on Monday, August 12th. StockNews.com downgraded CBIZ from a “hold” rating to a “sell” rating in a report on Thursday, September 5th.

About CBIZ

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.