Burgundy Asset Management Ltd. boosted its position in shares of CBIZ, Inc. (NYSE:CBZ – Free Report) 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.
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.
Read Our Latest Analysis on CBIZ
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.
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