Ridgewood Investments LLC Makes New $137,000 Investment in CBIZ, Inc. (NYSE:CBZ)

Ridgewood Investments LLC purchased a new position in shares of CBIZ, Inc. (NYSE:CBZ) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,850 shares of the business services provider’s stock, valued at approximately $137,000.

Several other large investors have also made changes to their positions in the company. Capital Research Global Investors increased its holdings in shares of CBIZ by 309.4% in the 1st quarter. Capital Research Global Investors now owns 3,128,738 shares of the business services provider’s stock worth $245,606,000 after acquiring an additional 2,364,545 shares during the period. Vanguard Group Inc. increased its holdings in CBIZ by 36.3% in the first quarter. Vanguard Group Inc. now owns 3,705,090 shares of the business services provider’s stock worth $290,850,000 after buying an additional 986,774 shares during the last quarter. Capital World Investors acquired a new stake in shares of CBIZ in the 1st quarter valued at $40,590,000. Norges Bank bought a new position in shares of CBIZ in the fourth quarter valued at approximately $19,874,000. Finally, Public Employees Retirement Association of Colorado acquired a new stake in CBIZ in the 4th quarter valued at approximately $17,804,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

CBIZ Price Performance

Shares of CBZ stock traded up $0.45 on Thursday, hitting $71.21. 218,569 shares of the company’s stock were exchanged, compared to its average volume of 312,636. The company has a 50 day moving average of $74.90 and a 200 day moving average of $75.18. CBIZ, Inc. has a 12 month low of $49.15 and a 12 month high of $86.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market cap of $3.57 billion, a P/E ratio of 28.65 and a beta of 0.93.

CBIZ (NYSE:CBZ) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.29). CBIZ had a net margin of 7.12% and a return on equity of 14.58%. The business had revenue of $420.00 million during the quarter, compared to analyst estimates of $430.38 million. During the same quarter last year, the company posted $0.55 earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that CBIZ, Inc. will post 2.64 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. StockNews.com cut shares of CBIZ from a “hold” rating to a “sell” rating in a research note on Tuesday. Sidoti raised shares of CBIZ from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $86.00 in a research report on Monday, August 12th.

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.