Edgestream Partners L.P. Acquires New Shares in CBIZ, Inc. (NYSE:CBZ)

Edgestream Partners L.P. bought a new position in shares of CBIZ, Inc. (NYSE:CBZ) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 84,936 shares of the business services provider’s stock, valued at approximately $6,294,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital Research Global Investors grew its holdings in shares of 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 worth $245,606,000 after purchasing an additional 2,364,545 shares during the period. Vanguard Group Inc. boosted its stake 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 buying an additional 986,774 shares during the period. Capital World Investors acquired a new stake in shares of CBIZ during the first quarter valued at about $40,590,000. Norges Bank purchased a new stake in shares of CBIZ in the 4th quarter valued at approximately $19,874,000. Finally, Public Employees Retirement Association of Colorado purchased a new stake in shares of CBIZ in the 4th quarter valued at approximately $17,804,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on CBZ shares. StockNews.com downgraded shares of CBIZ from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. Sidoti raised CBIZ from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $86.00 in a research note on Monday, August 12th.

CBIZ Stock Up 0.3 %

Shares of NYSE:CBZ opened at $67.96 on Tuesday. The firm has a market capitalization of $3.41 billion, a PE ratio of 27.51 and a beta of 0.92. CBIZ, Inc. has a 1 year low of $49.15 and a 1 year 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 firm’s 50-day moving average is $73.61 and its two-hundred day moving average is $74.99.

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

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.