Taylor Frigon Capital Management LLC Acquires New Position in CBIZ, Inc. (NYSE:CBZ)

Taylor Frigon Capital Management LLC purchased a new position in shares of CBIZ, Inc. (NYSE:CBZ) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,043 shares of the business services provider’s stock, valued at approximately $1,416,000.

A number of other hedge funds also recently made changes to their positions in CBZ. Capital Research Global Investors boosted its stake 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 acquiring an additional 2,364,545 shares in the last quarter. Vanguard Group Inc. lifted its position in 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 acquiring an additional 986,774 shares during the last quarter. Capital World Investors acquired a new stake in CBIZ in the 1st quarter valued at approximately $40,590,000. Handelsbanken Fonder AB increased its position in CBIZ by 2,333.3% during the third quarter. Handelsbanken Fonder AB now owns 292,000 shares of the business services provider’s stock worth $19,649,000 after acquiring an additional 280,000 shares during the period. Finally, Artemis Investment Management LLP acquired a new stake in shares of CBIZ during the 1st quarter worth approximately $17,148,000. Institutional investors own 87.44% of the company’s stock.

CBIZ Stock Performance

CBIZ stock traded up $0.33 during mid-day trading on Thursday, hitting $66.31. 186,729 shares of the company’s stock traded hands, compared to its average volume of 311,560. CBIZ, Inc. has a fifty-two week low of $49.15 and a fifty-two week high of $86.36. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 26.98 and a beta of 0.92. The firm has a 50 day simple moving average of $68.09 and a two-hundred day simple moving average of $73.10. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.48.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on CBZ. StockNews.com cut shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Sidoti raised CBIZ from a “neutral” rating to a “buy” rating and boosted their target price for the company from $80.00 to $86.00 in a research note 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.