CBIZ, Inc. (NYSE:CBZ) Shares Sold by Schneider Downs Wealth Management Advisors LP

Schneider Downs Wealth Management Advisors LP reduced its position in shares of CBIZ, Inc. (NYSE:CBZ) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,643 shares of the business services provider’s stock after selling 355 shares during the quarter. Schneider Downs Wealth Management Advisors LP’s holdings in CBIZ were worth $1,591,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in CBIZ by 36.3% during the first quarter. Vanguard Group Inc. now owns 3,705,090 shares of the business services provider’s stock worth $290,850,000 after acquiring an additional 986,774 shares during the period. Capital Research Global Investors grew its stake 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 purchasing an additional 2,364,545 shares during the last quarter. Burgundy Asset Management Ltd. raised its holdings in shares of CBIZ by 1.8% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,220,013 shares of the business services provider’s stock worth $164,503,000 after purchasing an additional 40,215 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in CBIZ by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,125,766 shares of the business services provider’s stock valued at $75,753,000 after purchasing an additional 11,401 shares during the last quarter. Finally, Capital World Investors bought a new stake in CBIZ during the first quarter worth approximately $40,590,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

CBIZ Price Performance

CBZ stock opened at $76.48 on Friday. The firm has a 50-day moving average of $68.76 and a two-hundred day moving average of $72.92. The firm has a market capitalization of $3.84 billion, a PE ratio of 32.41 and a beta of 0.91. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.36. CBIZ, Inc. has a one year low of $56.64 and a one year high of $86.36.

CBIZ (NYSE:CBZ) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $438.90 million for the quarter, compared to analysts’ expectations of $440.16 million. CBIZ had a net margin of 7.08% and a return on equity of 15.12%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 EPS. On average, analysts forecast that CBIZ, Inc. will post 2.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com upgraded CBIZ from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Sidoti raised CBIZ from a “neutral” rating to a “buy” rating and boosted their target price for the stock 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.