CBIZ (NYSE:CBZ) Shares Down 3.8% - Here's What Happened

CBIZ, Inc. (NYSE:CBZ - Get Free Report) fell 3.8% on Wednesday . The stock traded as low as $74.76 and last traded at $74.08. 39,388 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 318,648 shares. The stock had previously closed at $76.98.

Wall Street Analysts Forecast Growth

CBZ has been the topic of several analyst reports. StockNews.com lowered 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.

CBIZ Trading Down 1.8 %

The firm's 50-day simple moving average is $79.31 and its 200 day simple moving average is $77.10. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 30.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 1.49.

Insider Activity at CBIZ

In other news, Director Benaree Pratt Wiley sold 6,526 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $71.75, for a total value of $468,240.50. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CBIZ

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. McIlrath & Eck LLC increased its holdings in shares of CBIZ by 193.2% during the fourth quarter. McIlrath & Eck LLC now owns 557 shares of the business services provider's stock worth $46,000 after buying an additional 367 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in CBIZ by 75.0% in the 4th 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 in the last quarter. VisionPoint Advisory Group LLC bought a new position in CBIZ in the fourth quarter valued at about $60,000. Quarry LP boosted its stake in shares of CBIZ by 6,335.3% during the third quarter. Quarry LP now owns 1,094 shares of the business services provider's stock valued at $74,000 after purchasing an additional 1,077 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in shares of CBIZ during the fourth quarter worth about $110,000. Institutional investors own 87.44% of the company's stock.

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.