Simplicity Solutions LLC acquired a new stake in shares of CBIZ, Inc. (NYSE:CBZ – Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,625 shares of the business services provider’s stock, valued at approximately $278,000.
Several other institutional investors have also recently modified their holdings of the company. Morgan Stanley increased its position in shares of CBIZ by 853.9% during the 4th quarter. Morgan Stanley now owns 3,871,416 shares of the business services provider’s stock valued at $181,376,000 after purchasing an additional 3,465,585 shares during the last quarter. Eaton Vance Management grew its position in CBIZ by 14.3% during the 1st quarter. Eaton Vance Management now owns 2,923,896 shares of the business services provider’s stock worth $122,716,000 after acquiring an additional 364,887 shares during the last quarter. Vanguard Group Inc. grew its position in CBIZ by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 2,551,939 shares of the business services provider’s stock worth $107,105,000 after acquiring an additional 23,498 shares during the last quarter. Goldman Sachs Group Inc. grew its position in CBIZ by 317.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,237,443 shares of the business services provider’s stock worth $51,935,000 after acquiring an additional 941,076 shares during the last quarter. Finally, State Street Corp grew its position in CBIZ by 0.3% during the 3rd quarter. State Street Corp now owns 1,001,956 shares of the business services provider’s stock worth $42,864,000 after acquiring an additional 3,392 shares during the last quarter. 88.27% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Separately, StockNews.com started coverage on CBIZ in a research report on Thursday, May 18th. They set a “hold” rating on the stock.
CBIZ Price Performance
CBZ opened at $53.74 on Friday. The stock’s 50 day simple moving average is $52.56 and its 200 day simple moving average is $50.26. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.41 and a quick ratio of 1.41. CBIZ, Inc. has a 1 year low of $41.68 and a 1 year high of $55.15. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 22.97 and a beta of 0.75.
CBIZ (NYSE:CBZ – Get Free Report) last released its quarterly earnings data on Thursday, April 27th. The business services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.17. CBIZ had a return on equity of 16.24% and a net margin of 8.16%. The business had revenue of $454.60 million during the quarter, compared to analysts’ expectations of $432.66 million. During the same quarter last year, the business posted $1.18 EPS. The business’s revenue was up 16.1% on a year-over-year basis. As a group, analysts predict that CBIZ, Inc. will post 2.41 earnings per share for the current year.
Insiders Place Their Bets
In other CBIZ news, insider Ware H. Grove sold 18,485 shares of the stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $53.04, for a total value of $980,444.40. Following the completion of the sale, the insider now owns 274,524 shares in the company, valued at approximately $14,560,752.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other CBIZ news, insider Ware H. Grove sold 18,485 shares of the stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $53.04, for a total value of $980,444.40. Following the completion of the sale, the insider now owns 274,524 shares in the company, valued at approximately $14,560,752.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joseph S. Dimartino sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $49.82, for a total value of $498,200.00. Following the completion of the transaction, the director now owns 30,872 shares of the company’s stock, valued at approximately $1,538,043.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,873 shares of company stock worth $2,317,413. 5.40% of the stock is currently owned by company insiders.
CBIZ Company Profile
CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through three segments: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.
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