Capital Research Global Investors Sells 405,687 Shares of CBIZ, Inc. (NYSE:CBZ)

Capital Research Global Investors lowered its position in CBIZ, Inc. (NYSE:CBZ - Free Report) by 10.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,526,288 shares of the business services provider's stock after selling 405,687 shares during the period. Capital Research Global Investors owned 7.03% of CBIZ worth $288,556,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in CBIZ by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 4,716,456 shares of the business services provider's stock valued at $385,948,000 after purchasing an additional 43,784 shares during the last quarter. Capital World Investors grew its holdings in CBIZ by 37.6% during the 4th quarter. Capital World Investors now owns 1,134,585 shares of the business services provider's stock worth $92,843,000 after acquiring an additional 309,785 shares during the last quarter. Geode Capital Management LLC increased its position in CBIZ by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,109,074 shares of the business services provider's stock valued at $74,644,000 after acquiring an additional 11,615 shares in the last quarter. Invesco Ltd. raised its stake in shares of CBIZ by 157.2% in the fourth quarter. Invesco Ltd. now owns 769,209 shares of the business services provider's stock worth $62,944,000 after acquiring an additional 470,095 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of CBIZ by 7.5% during the third quarter. JPMorgan Chase & Co. now owns 704,888 shares of the business services provider's stock worth $47,432,000 after purchasing an additional 48,979 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

CBIZ Trading Up 1.9 %

Shares of NYSE CBZ traded up $1.40 during mid-day trading on Tuesday, hitting $75.89. The company's stock had a trading volume of 516,126 shares, compared to its average volume of 332,678. CBIZ, Inc. has a one year low of $62.66 and a one year high of $90.13. The company's fifty day simple moving average is $76.21 and its 200-day simple moving average is $77.84. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 32.16 and a beta of 0.90.

Insider Activity at CBIZ

In other CBIZ news, Director Benaree Pratt Wiley sold 6,526 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $71.75, for a total value of $468,240.50. Following the transaction, the director now owns 41,759 shares of the company's stock, valued at approximately $2,996,208.25. This represents a 13.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.95% of the stock is currently owned by company insiders.

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.