Suntrust Banks Inc. lessened its stake in CBIZ, Inc. (NYSE:CBZ) by 29.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,458 shares of the business services provider’s stock after selling 6,122 shares during the period. Suntrust Banks Inc.’s holdings in CBIZ were worth $222,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Citadel Advisors LLC bought a new stake in shares of CBIZ in the fourth quarter valued at about $234,000. Arrowstreet Capital Limited Partnership lifted its stake in CBIZ by 35.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 105,040 shares of the business services provider’s stock worth $1,623,000 after purchasing an additional 27,600 shares during the period. BlackRock Inc. lifted its stake in CBIZ by 1.1% during the fourth quarter. BlackRock Inc. now owns 3,355,981 shares of the business services provider’s stock worth $51,851,000 after purchasing an additional 35,187 shares during the period. Wells Fargo & Company MN lifted its stake in CBIZ by 22.8% during the fourth quarter. Wells Fargo & Company MN now owns 330,061 shares of the business services provider’s stock worth $5,099,000 after purchasing an additional 61,315 shares during the period. Finally, Swiss National Bank lifted its stake in CBIZ by 6.4% during the fourth quarter. Swiss National Bank now owns 88,700 shares of the business services provider’s stock worth $1,370,000 after purchasing an additional 5,300 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.
In other CBIZ news, insider Michael P. Kouzelos sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $14.95, for a total transaction of $523,250.00. Following the completion of the transaction, the insider now owns 287,972 shares in the company, valued at $4,305,181.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ware H. Grove sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $18.35, for a total transaction of $458,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 230,101 shares of company stock valued at $3,879,116. Corporate insiders own 6.90% of the company’s stock.
CBIZ, Inc. (NYSE:CBZ) opened at $19.40 on Monday. The company has a market cap of $1,067.17, a PE ratio of 22.30 and a beta of 0.70. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.34 and a current ratio of 1.34. CBIZ, Inc. has a one year low of $13.40 and a one year high of $19.60.
CBIZ (NYSE:CBZ) last announced its quarterly earnings results on Thursday, February 15th. The business services provider reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $195.00 million during the quarter, compared to analysts’ expectations of $191.40 million. CBIZ had a net margin of 5.89% and a return on equity of 9.28%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) earnings per share. equities analysts expect that CBIZ, Inc. will post 1.05 EPS for the current year.
CBIZ declared that its board has initiated a share repurchase plan on Wednesday, February 14th that permits the company to repurchase 5,000,000 shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
A number of research analysts have commented on CBZ shares. Zacks Investment Research cut shares of CBIZ from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. ValuEngine cut shares of CBIZ from a “buy” rating to a “hold” rating in a research note on Friday, December 1st.
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CBIZ, Inc (CBIZ) is engaged in the professional services business. The Company operates its professional services business through acquiring and integrating accounting and financial service providers, group health benefits consulting firms, property and casualty brokerage firms, payroll service providers, and valuation and other service firms throughout the United States.
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