State of New Jersey Common Pension Fund D Makes New $1.87 Million Investment in CBIZ, Inc. (NYSE:CBZ)

State of New Jersey Common Pension Fund D bought a new stake in shares of CBIZ, Inc. (NYSE:CBZ) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 27,711 shares of the business services provider’s stock, valued at approximately $1,865,000. State of New Jersey Common Pension Fund D owned about 0.06% of CBIZ at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. lifted its position in shares of CBIZ by 3.5% during the first quarter. Russell Investments Group Ltd. now owns 71,167 shares of the business services provider’s stock worth $5,587,000 after purchasing an additional 2,380 shares during the last quarter. ProShare Advisors LLC grew its position in shares of CBIZ by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 8,617 shares of the business services provider’s stock worth $676,000 after acquiring an additional 678 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of CBIZ by 23.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,848 shares of the business services provider’s stock valued at $1,323,000 after acquiring an additional 3,160 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of CBIZ by 36.3% in 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 acquiring an additional 986,774 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of CBIZ by 45.5% during the 1st quarter. Covestor Ltd now owns 707 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 221 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. StockNews.com upgraded shares of CBIZ from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Sidoti raised shares of CBIZ from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $86.00 in a research report on Monday, August 12th.

CBIZ Trading Up 0.7 %

NYSE:CBZ opened at $77.00 on Tuesday. CBIZ, Inc. has a 12-month low of $57.01 and a 12-month high of $86.36. The firm has a market capitalization of $3.86 billion, a P/E ratio of 32.63 and a beta of 0.91. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 1.49. The business has a 50 day simple moving average of $68.99 and a 200 day simple moving average of $72.96.

CBIZ (NYSE:CBZ) last released its earnings results on Tuesday, October 29th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $438.90 million during the quarter, compared to the consensus estimate of $440.16 million. CBIZ had a net margin of 7.08% and a return on equity of 15.12%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. Equities research analysts predict that CBIZ, Inc. will post 2.65 EPS for the current year.

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.