Principal Financial Group Inc. Boosts Stock Position in CBIZ, Inc. (NYSE:CBZ)

Principal Financial Group Inc. grew its holdings in shares of CBIZ, Inc. (NYSE:CBZ) by 25.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,860 shares of the business services provider’s stock after buying an additional 5,717 shares during the period. Principal Financial Group Inc. owned 0.06% of CBIZ worth $1,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in CBZ. Quest Partners LLC increased its stake in CBIZ by 2,980.0% in the second quarter. Quest Partners LLC now owns 462 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 447 shares during the last quarter. Covestor Ltd lifted its position in CBIZ by 45.5% in the first quarter. Covestor Ltd now owns 707 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 221 shares during the last quarter. Signaturefd LLC boosted its stake in CBIZ by 55.8% in the third quarter. Signaturefd LLC now owns 961 shares of the business services provider’s stock valued at $65,000 after acquiring an additional 344 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in shares of CBIZ during the second quarter worth about $82,000. Finally, US Bancorp DE lifted its holdings in shares of CBIZ by 16.1% in the 3rd quarter. US Bancorp DE now owns 1,796 shares of the business services provider’s stock valued at $121,000 after purchasing an additional 249 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

CBIZ Stock Performance

Shares of CBZ stock opened at $80.79 on Friday. CBIZ, Inc. has a 52-week low of $57.01 and a 52-week high of $86.36. The stock’s 50-day moving average price is $69.74 and its 200 day moving average price is $73.07. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $4.05 billion, a PE ratio of 34.23 and a beta of 0.91.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CBZ. StockNews.com downgraded CBIZ from a “hold” rating to a “sell” rating in a research note on Wednesday. Sidoti upgraded 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.

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.