Victory Capital Management Inc. Has $3.23 Million Position in CBIZ, Inc. (NYSE:CBZ)

Victory Capital Management Inc. lifted its position in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 22.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,943 shares of the business services provider's stock after acquiring an additional 8,695 shares during the period. Victory Capital Management Inc. owned about 0.10% of CBIZ worth $3,226,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Quest Partners LLC grew its stake in CBIZ by 2,980.0% during the 2nd quarter. Quest Partners LLC now owns 462 shares of the business services provider's stock worth $34,000 after buying an additional 447 shares during the last quarter. Signaturefd LLC raised its holdings in shares of CBIZ by 55.8% during the third quarter. Signaturefd LLC now owns 961 shares of the business services provider's stock valued at $65,000 after buying an additional 344 shares during the last quarter. Picton Mahoney Asset Management bought a new position in shares of CBIZ in the second quarter worth $82,000. US Bancorp DE increased its holdings in shares of CBIZ by 16.1% during the third quarter. US Bancorp DE now owns 1,796 shares of the business services provider's stock valued at $121,000 after purchasing an additional 249 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in shares of CBIZ during the second quarter valued at about $137,000. Institutional investors and hedge funds own 87.44% of the company's stock.

CBIZ Price Performance

CBIZ stock traded up $1.36 during midday trading on Friday, hitting $80.79. The company's stock had a trading volume of 330,760 shares, compared to its average volume of 362,909. CBIZ, Inc. has a 12 month low of $57.01 and a 12 month high of $86.36. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $4.05 billion, a PE ratio of 34.23 and a beta of 0.91. The stock's 50-day moving average price is $70.00 and its 200-day moving average price is $73.07.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Sidoti raised shares of CBIZ from a "neutral" rating to a "buy" rating and upped their price target for the stock from $80.00 to $86.00 in a research note on Monday, August 12th. StockNews.com downgraded CBIZ from a "hold" rating to a "sell" rating in a research report on Wednesday.

CBIZ Company 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.