CBIZ, Inc. (NYSE:CBZ) Position Trimmed by Granite Investment Partners LLC

Granite Investment Partners LLC cut its position in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 561,249 shares of the business services provider's stock after selling 23,129 shares during the period. CBIZ makes up 2.0% of Granite Investment Partners LLC's portfolio, making the stock its 4th largest holding. Granite Investment Partners LLC owned about 1.12% of CBIZ worth $45,927,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in CBIZ by 75.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 644 shares of the business services provider's stock worth $53,000 after purchasing an additional 276 shares during the period. VisionPoint Advisory Group LLC purchased a new position in shares of CBIZ during the fourth quarter worth approximately $60,000. Venturi Wealth Management LLC purchased a new stake in shares of CBIZ in the fourth quarter valued at approximately $110,000. KBC Group NV boosted its holdings in shares of CBIZ by 30.1% in the fourth quarter. KBC Group NV now owns 2,021 shares of the business services provider's stock valued at $165,000 after purchasing an additional 468 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in CBIZ by 31.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,227 shares of the business services provider's stock worth $182,000 after purchasing an additional 529 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CBIZ

In other news, Director Benaree Pratt Wiley sold 6,526 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $71.75, for a total transaction of $468,240.50. Following the transaction, the director now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CBZ. StockNews.com downgraded CBIZ from a "hold" rating to a "sell" rating in a research report on Tuesday, February 25th. William Blair reissued an "outperform" rating on shares of CBIZ in a research report on Thursday, February 27th.

CBIZ Stock Down 1.6 %

Shares of NYSE:CBZ traded down $1.24 on Friday, reaching $77.45. The company had a trading volume of 456,438 shares, compared to its average volume of 330,619. The firm has a market capitalization of $4.19 billion, a PE ratio of 32.82 and a beta of 0.90. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.36. CBIZ, Inc. has a 52-week low of $62.66 and a 52-week high of $90.13. The firm's 50 day simple moving average is $76.92 and its 200-day simple moving average is $77.55.

About CBIZ

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.