Handelsbanken Fonder AB Sells 1,100 Shares of CBIZ, Inc. (NYSE:CBZ)

Handelsbanken Fonder AB trimmed its holdings in shares of CBIZ, Inc. (NYSE:CBZ) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,300 shares of the business services provider’s stock after selling 1,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in CBIZ were worth $770,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CBZ. Premier Fund Managers Ltd grew its stake in shares of CBIZ by 596.0% in the third quarter. Premier Fund Managers Ltd now owns 615,942 shares of the business services provider’s stock worth $32,442,000 after purchasing an additional 527,448 shares during the last quarter. Burgundy Asset Management Ltd. increased its stake in shares of CBIZ by 8.2% in the third quarter. Burgundy Asset Management Ltd. now owns 2,039,382 shares of the business services provider’s stock valued at $105,844,000 after buying an additional 154,498 shares during the period. Fiera Capital Corp raised its position in shares of CBIZ by 94.0% during the third quarter. Fiera Capital Corp now owns 186,950 shares of the business services provider’s stock worth $9,703,000 after acquiring an additional 90,600 shares during the last quarter. Manatuck Hill Partners LLC acquired a new position in shares of CBIZ in the third quarter worth approximately $3,529,000. Finally, Qube Research & Technologies Ltd boosted its holdings in CBIZ by 327.6% in the third quarter. Qube Research & Technologies Ltd now owns 78,412 shares of the business services provider’s stock valued at $4,070,000 after acquiring an additional 60,073 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

CBIZ Stock Down 1.1 %

Shares of CBIZ stock opened at $71.98 on Tuesday. The stock’s 50-day moving average is $75.75 and its 200 day moving average is $65.49. CBIZ, Inc. has a one year low of $49.13 and a one year high of $79.55. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 29.14 and a beta of 0.83. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.54 and a quick ratio of 1.54.

CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Thursday, April 25th. The business services provider reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.03). The business had revenue of $494.30 million during the quarter, compared to analyst estimates of $490.88 million. CBIZ had a net margin of 7.65% and a return on equity of 15.43%. CBIZ’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. Equities research analysts anticipate that CBIZ, Inc. will post 2.74 EPS for the current year.

Analysts Set New Price Targets

CBZ has been the subject of several analyst reports. StockNews.com lowered shares of CBIZ from a “hold” rating to a “sell” rating in a report on Friday. Sidoti downgraded shares of CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 target price for the company. in a research note on Tuesday, January 2nd.

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.