Man Group plc Takes $968,000 Position in CBIZ, Inc. (NYSE:CBZ)

Man Group plc purchased a new stake in CBIZ, Inc. (NYSE:CBZ) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,825 shares of the business services provider’s stock, valued at approximately $968,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in CBIZ by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 4,716,456 shares of the business services provider’s stock worth $385,948,000 after acquiring an additional 43,784 shares during the last quarter. Capital World Investors boosted its position in CBIZ by 37.6% during the fourth quarter. Capital World Investors now owns 1,134,585 shares of the business services provider’s stock worth $92,843,000 after acquiring an additional 309,785 shares during the last quarter. Northern Trust Corp boosted its position in CBIZ by 0.7% during the fourth quarter. Northern Trust Corp now owns 940,717 shares of the business services provider’s stock worth $76,979,000 after acquiring an additional 6,540 shares during the last quarter. Invesco Ltd. boosted its position in CBIZ by 157.2% during the fourth quarter. Invesco Ltd. now owns 769,209 shares of the business services provider’s stock worth $62,944,000 after acquiring an additional 470,095 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in CBIZ by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 535,880 shares of the business services provider’s stock worth $43,851,000 after acquiring an additional 10,550 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CBIZ news, Director Benaree Pratt Wiley sold 6,526 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $71.75, for a total transaction of $468,240.50. Following the transaction, the director now owns 41,759 shares of the company’s stock, valued at $2,996,208.25. This trade represents a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.95% of the stock is currently owned by insiders.

CBIZ Stock Performance

NYSE:CBZ opened at $72.01 on Friday. 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 company has a market cap of $3.92 billion, a P/E ratio of 30.51 and a beta of 0.91. CBIZ, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $90.13. The firm’s 50 day moving average is $73.42 and its two-hundred day moving average is $78.42.

CBIZ (NYSE:CBZ) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.18. The company had revenue of $838.01 million for the quarter, compared to the consensus estimate of $860.25 million. CBIZ had a net margin of 7.08% and a return on equity of 15.12%. CBIZ’s revenue was up 69.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.54 earnings per share. Analysts expect that CBIZ, Inc. will post 2.65 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CBZ. William Blair restated an “outperform” rating on shares of CBIZ in a research report on Friday, April 25th. Wall Street Zen lowered shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th.

CBIZ Company 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.