Cannon Global Investment Management LLC Sells 7,100 Shares of CBIZ, Inc. (NYSE:CBZ)

Cannon Global Investment Management LLC cut its stake in CBIZ, Inc. (NYSE:CBZ - Free Report) by 64.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,900 shares of the business services provider's stock after selling 7,100 shares during the quarter. Cannon Global Investment Management LLC's holdings in CBIZ were worth $319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CBZ. Arizona State Retirement System raised its stake in CBIZ by 1.0% in the fourth quarter. Arizona State Retirement System now owns 13,112 shares of the business services provider's stock worth $1,073,000 after buying an additional 125 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of CBIZ by 1.4% during the 4th quarter. Corient Private Wealth LLC now owns 9,510 shares of the business services provider's stock worth $778,000 after acquiring an additional 128 shares during the period. Kensington Investment Counsel LLC grew its position in shares of CBIZ by 0.7% in the 4th quarter. Kensington Investment Counsel LLC now owns 20,211 shares of the business services provider's stock worth $1,654,000 after buying an additional 132 shares during the period. SG Americas Securities LLC increased its stake in shares of CBIZ by 7.2% in the 4th quarter. SG Americas Securities LLC now owns 2,536 shares of the business services provider's stock worth $208,000 after acquiring an additional 170 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in CBIZ by 75.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 644 shares of the business services provider's stock valued at $53,000 after acquiring an additional 276 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CBZ. StockNews.com cut shares of CBIZ from a "hold" rating to a "sell" rating in a report on Tuesday, February 25th. William Blair reaffirmed an "outperform" rating on shares of CBIZ in a research report on Thursday, February 27th.

Insiders Place Their Bets

In related news, Director Benaree Pratt Wiley sold 6,526 shares of CBIZ stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $71.75, for a total value of $468,240.50. Following the completion of the sale, the director now owns 41,759 shares of the company's stock, valued at $2,996,208.25. The trade was a 13.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.40% of the stock is currently owned by insiders.

CBIZ Stock Performance

Shares of CBZ traded down $0.14 during mid-day trading on Friday, hitting $75.05. 280,765 shares of the company traded hands, compared to its average volume of 317,538. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 31.80 and a beta of 0.99. The stock has a 50-day moving average price of $80.27 and a two-hundred day moving average price of $76.68. CBIZ, Inc. has a 1 year low of $62.66 and a 1 year high of $90.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.49 and a current ratio of 1.49.

CBIZ 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.