First Trust Advisors LP Takes $3.21 Million Position in CBIZ, Inc. (CBZ)

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First Trust Advisors LP purchased a new position in CBIZ, Inc. (NYSE:CBZ) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 162,788 shares of the business services provider’s stock, valued at approximately $3,207,000. First Trust Advisors LP owned 0.29% of CBIZ at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FMR LLC raised its position in CBIZ by 17.4% in the third quarter. FMR LLC now owns 7,928,680 shares of the business services provider’s stock worth $187,909,000 after acquiring an additional 1,172,628 shares during the period. BlackRock Inc. raised its position in CBIZ by 1.3% in the third quarter. BlackRock Inc. now owns 3,748,929 shares of the business services provider’s stock worth $88,849,000 after acquiring an additional 47,750 shares during the period. Vanguard Group Inc raised its position in CBIZ by 0.7% in the third quarter. Vanguard Group Inc now owns 2,439,155 shares of the business services provider’s stock worth $57,809,000 after acquiring an additional 15,817 shares during the period. Vanguard Group Inc. raised its position in CBIZ by 0.7% in the third quarter. Vanguard Group Inc. now owns 2,439,155 shares of the business services provider’s stock worth $57,809,000 after acquiring an additional 15,817 shares during the period. Finally, Granite Investment Partners LLC raised its position in CBIZ by 4.1% in the third quarter. Granite Investment Partners LLC now owns 864,777 shares of the business services provider’s stock worth $20,495,000 after acquiring an additional 33,933 shares during the period. Institutional investors and hedge funds own 86.91% of the company’s stock.

CBZ opened at $20.06 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 1.32. CBIZ, Inc. has a 1-year low of $17.98 and a 1-year high of $24.38. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 18.40 and a beta of 0.51.

CBIZ (NYSE:CBZ) last released its quarterly earnings results on Wednesday, February 13th. The business services provider reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.02. The business had revenue of $199.00 million for the quarter, compared to the consensus estimate of $202.33 million. CBIZ had a net margin of 6.68% and a return on equity of 10.45%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $0.04 earnings per share. On average, equities analysts anticipate that CBIZ, Inc. will post 1.2 EPS for the current year.

Several research analysts have weighed in on CBZ shares. Zacks Investment Research upgraded shares of CBIZ from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Friday, February 15th. ValuEngine downgraded shares of CBIZ from a “buy” rating to a “hold” rating in a research report on Tuesday.

In other news, insider Michael W. Gleespen sold 44,010 shares of the stock in a transaction on Friday, January 4th. The shares were sold at an average price of $20.01, for a total value of $880,640.10. Following the completion of the sale, the insider now directly owns 65,870 shares of the company’s stock, valued at $1,318,058.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph S. Dimartino sold 3,488 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $20.63, for a total transaction of $71,957.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 120,380 shares of company stock valued at $2,433,898. Corporate insiders own 7.20% of the company’s stock.

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CBIZ Profile

CBIZ, Inc provides professional business services that help its clients manage their finances, employees, and insurance needs. It offers its services through three practice groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services practice group provides accounting, tax, financial advisory, government healthcare consulting, and risk advisory and valuation services.

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Institutional Ownership by Quarter for CBIZ (NYSE:CBZ)

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