Public Employees Retirement Association of Colorado Purchases 37,028 Shares of CBIZ, Inc. (NYSE:CBZ)

Public Employees Retirement Association of Colorado lifted its position in shares of CBIZ, Inc. (NYSE:CBZ) by 12.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 340,124 shares of the business services provider’s stock after purchasing an additional 37,028 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.68% of CBIZ worth $25,203,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in shares of CBIZ by 12.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 507,824 shares of the business services provider’s stock valued at $31,785,000 after purchasing an additional 54,573 shares during the last quarter. Capital World Investors purchased a new position in shares of CBIZ in the 1st quarter worth about $40,590,000. Artemis Investment Management LLP bought a new position in CBIZ in the 1st quarter worth about $17,148,000. Vanguard Group Inc. grew its position in CBIZ by 36.3% during the 1st quarter. Vanguard Group Inc. now owns 3,705,090 shares of the business services provider’s stock valued at $290,850,000 after purchasing an additional 986,774 shares during the last quarter. Finally, Norges Bank bought a new stake in CBIZ during the 4th quarter valued at about $19,874,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CBZ. StockNews.com cut shares of CBIZ from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. Sidoti raised CBIZ from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $86.00 in a report on Monday, August 12th.

CBIZ Trading Up 0.3 %

Shares of CBZ stock opened at $67.61 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43. CBIZ, Inc. has a 12-month low of $49.15 and a 12-month high of $86.36. The stock has a market capitalization of $3.39 billion, a P/E ratio of 27.37 and a beta of 0.92. The firm’s 50 day moving average is $73.01 and its 200 day moving average is $74.75.

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 firm had revenue of $420.00 million during 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% on a year-over-year basis. During the same quarter last year, the business earned $0.55 earnings per share. Research analysts expect that CBIZ, Inc. will post 2.64 earnings per share for the current year.

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.