Retirement Systems of Alabama Raises Position in CBIZ, Inc. (NYSE:CBZ)

Retirement Systems of Alabama lifted its position in CBIZ, Inc. (NYSE:CBZ - Free Report) by 10.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,194 shares of the business services provider's stock after purchasing an additional 8,032 shares during the quarter. Retirement Systems of Alabama owned 0.17% of CBIZ worth $5,800,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Burgundy Asset Management Ltd. raised its position in CBIZ by 1.8% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,220,013 shares of the business services provider's stock worth $164,503,000 after purchasing an additional 40,215 shares during the period. State Street Corp increased its holdings in shares of CBIZ by 0.9% in the third quarter. State Street Corp now owns 1,130,848 shares of the business services provider's stock worth $76,095,000 after buying an additional 10,555 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of CBIZ by 1.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,125,766 shares of the business services provider's stock valued at $75,753,000 after acquiring an additional 11,401 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 during the last quarter. Finally, Premier Fund Managers Ltd boosted its holdings in CBIZ by 14.0% during the 3rd quarter. Premier Fund Managers Ltd now owns 813,698 shares of the business services provider's stock valued at $54,375,000 after acquiring an additional 100,000 shares during the period. 87.44% of the stock is currently owned by institutional investors.

CBIZ Trading Up 1.3 %

NYSE:CBZ traded up $1.04 during midday trading on Thursday, reaching $80.43. 396,465 shares of the stock traded hands, compared to its average volume of 318,395. The stock has a market capitalization of $4.04 billion, a P/E ratio of 34.08 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.49 and a current ratio of 1.49. The company has a fifty day moving average of $75.48 and a 200 day moving average of $73.59. CBIZ, Inc. has a 12 month low of $60.59 and a 12 month high of $86.36.

CBIZ (NYSE:CBZ - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $438.90 million during the quarter, compared to the consensus estimate of $440.16 million. CBIZ had a net margin of 7.08% and a return on equity of 15.12%. The company's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. On average, research analysts predict that CBIZ, Inc. will post 2.65 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised CBIZ from a "sell" rating to a "hold" rating in a research note on Thursday.

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.