CBIZ, Inc. (NYSE:CBZ) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in shares of CBIZ, Inc. (NYSE:CBZ) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 525,330 shares of the business services provider’s stock after buying an additional 9,872 shares during the period. Charles Schwab Investment Management Inc. owned about 1.05% of CBIZ worth $35,349,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Quest Partners LLC lifted its holdings in shares of CBIZ by 2,980.0% during the 2nd quarter. Quest Partners LLC now owns 462 shares of the business services provider’s stock worth $34,000 after acquiring an additional 447 shares during the period. Signaturefd LLC increased its position in shares of CBIZ by 55.8% during the 3rd quarter. Signaturefd LLC now owns 961 shares of the business services provider’s stock worth $65,000 after purchasing an additional 344 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in CBIZ in the second quarter valued at approximately $82,000. KBC Group NV boosted its holdings in shares of CBIZ by 29.7% during the 3rd quarter. KBC Group NV now owns 1,553 shares of the business services provider’s stock worth $105,000 after buying an additional 356 shares during the period. Finally, US Bancorp DE raised its stake in CBIZ by 16.1% in the 3rd quarter. US Bancorp DE now owns 1,796 shares of the business services provider’s stock worth $121,000 after purchasing an additional 249 shares in the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CBZ has been the topic of several research reports. Sidoti upgraded CBIZ from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $86.00 in a report on Monday, August 12th. StockNews.com downgraded shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th.

CBIZ Stock Performance

CBIZ stock opened at $81.78 on Tuesday. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 34.89 and a beta of 0.91. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.49 and a current ratio of 1.49. CBIZ, Inc. has a fifty-two week low of $57.44 and a fifty-two week high of $86.36. The stock’s 50 day simple moving average is $71.49 and its two-hundred day simple moving average is $73.27.

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