CBIZ, Inc. (NYSE:CBZ) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its holdings in shares of CBIZ, Inc. (NYSE:CBZ) by 58.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,193 shares of the business services provider’s stock after acquiring an additional 12,238 shares during the period. Exchange Traded Concepts LLC’s holdings in CBIZ were worth $2,234,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CBZ. Vanguard Group Inc. increased its stake in shares of CBIZ by 36.3% during the 1st quarter. Vanguard Group Inc. now owns 3,705,090 shares of the business services provider’s stock worth $290,850,000 after purchasing an additional 986,774 shares in the last quarter. Capital Research Global Investors grew its holdings in CBIZ by 309.4% during the 1st quarter. Capital Research Global Investors now owns 3,128,738 shares of the business services provider’s stock valued at $245,606,000 after buying an additional 2,364,545 shares during the last quarter. Burgundy Asset Management Ltd. increased its position in CBIZ by 1.8% during the second quarter. Burgundy Asset Management Ltd. now owns 2,220,013 shares of the business services provider’s stock worth $164,503,000 after buying an additional 40,215 shares in the last quarter. Capital World Investors acquired a new position in shares of CBIZ in the first quarter worth $40,590,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of CBIZ by 12.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 507,824 shares of the business services provider’s stock valued at $31,785,000 after acquiring an additional 54,573 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

CBIZ Price Performance

CBZ stock opened at $65.40 on Tuesday. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 26.48 and a beta of 0.92. The stock’s fifty day simple moving average is $68.31 and its 200-day simple moving average is $73.56. CBIZ, Inc. has a 52-week low of $49.15 and a 52-week high of $86.36. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. StockNews.com cut CBIZ from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. 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.

About CBIZ

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.