Assenagon Asset Management S.A. Has $2.48 Million Holdings in CBIZ, Inc. (NYSE:CBZ)

Assenagon Asset Management S.A. increased its holdings in CBIZ, Inc. (NYSE:CBZ) by 70.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,800 shares of the business services provider’s stock after purchasing an additional 15,200 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.07% of CBIZ worth $2,476,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of CBIZ by 36.3% in the first quarter. Vanguard Group Inc. now owns 3,705,090 shares of the business services provider’s stock worth $290,850,000 after purchasing an additional 986,774 shares during the last quarter. Capital Research Global Investors grew its stake in shares of 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 worth $245,606,000 after purchasing an additional 2,364,545 shares during the last quarter. Burgundy Asset Management Ltd. grew its stake in shares of 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 worth $164,503,000 after purchasing an additional 40,215 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of CBIZ by 1.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,125,766 shares of the business services provider’s stock worth $75,753,000 after purchasing an additional 11,401 shares during the last quarter. Finally, Capital World Investors bought a new stake in CBIZ during the first quarter valued at $40,590,000. Institutional investors own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

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

CBIZ Stock Performance

Shares of CBZ opened at $68.93 on Friday. The stock has a market capitalization of $3.46 billion, a P/E ratio of 29.21 and a beta of 0.92. The firm’s fifty day simple moving average is $67.89 and its two-hundred day simple moving average is $72.86. 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 $51.16 and a 12 month high of $86.36.

CBIZ (NYSE:CBZ) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $440.16 million. CBIZ had a net margin of 7.12% and a return on equity of 14.58%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. As a group, 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.