Algert Global LLC Sells 6,424 Shares of CBIZ, Inc. (NYSE:CBZ)

Algert Global LLC reduced its position in CBIZ, Inc. (NYSE:CBZ) by 58.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,536 shares of the business services provider’s stock after selling 6,424 shares during the period. Algert Global LLC’s holdings in CBIZ were worth $336,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted 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 period. Capital Research Global Investors raised its stake in shares of CBIZ by 309.4% during the first quarter. Capital Research Global Investors now owns 3,128,738 shares of the business services provider’s stock worth $245,606,000 after buying an additional 2,364,545 shares during the last quarter. Burgundy Asset Management Ltd. lifted its holdings in CBIZ by 1.8% in the second quarter. Burgundy Asset Management Ltd. now owns 2,220,013 shares of the business services provider’s stock valued at $164,503,000 after buying an additional 40,215 shares during the period. Capital World Investors bought a new position in CBIZ in the first quarter valued at approximately $40,590,000. Finally, Goldman Sachs Group Inc. boosted its stake in CBIZ by 12.0% in 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 acquiring an additional 54,573 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com lowered CBIZ from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Sidoti upgraded CBIZ from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $86.00 in a research report on Monday, August 12th.

CBIZ Trading Up 0.2 %

Shares of NYSE CBZ opened at $64.73 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. CBIZ, Inc. has a twelve month low of $49.15 and a twelve month high of $86.36. The company’s fifty day moving average is $68.77 and its 200-day moving average is $73.93. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 26.21 and a beta of 0.92.

CBIZ (NYSE:CBZ) last posted its 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 business had revenue of $420.00 million during the quarter, compared to analyst estimates of $430.38 million. CBIZ had a net margin of 7.12% and a return on equity of 14.58%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 earnings per share. Equities research analysts predict that CBIZ, Inc. will post 2.64 EPS for the current 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.