CBIZ, Inc. (NYSE:CBZ) Shares Sold by Cynosure Group LLC

Cynosure Group LLC lessened its holdings in CBIZ, Inc. (NYSE:CBZ - Free Report) by 53.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,486 shares of the business services provider's stock after selling 8,547 shares during the period. Cynosure Group LLC's holdings in CBIZ were worth $613,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Royce & Associates LP increased its position in shares of CBIZ by 7.0% during the 4th quarter. Royce & Associates LP now owns 208,919 shares of the business services provider's stock worth $17,096,000 after purchasing an additional 13,738 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in CBIZ by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 535,880 shares of the business services provider's stock valued at $43,851,000 after purchasing an additional 10,550 shares during the period. Retirement Systems of Alabama raised its position in shares of CBIZ by 10.3% in the 3rd quarter. Retirement Systems of Alabama now owns 86,194 shares of the business services provider's stock valued at $5,800,000 after buying an additional 8,032 shares in the last quarter. Principal Financial Group Inc. grew its position in CBIZ by 13.1% during the 4th quarter. Principal Financial Group Inc. now owns 31,523 shares of the business services provider's stock worth $2,580,000 after acquiring an additional 3,663 shares during the last quarter. Finally, King Luther Capital Management Corp increased its position in CBIZ by 11.3% during the 4th quarter. King Luther Capital Management Corp now owns 82,135 shares of the business services provider's stock valued at $6,721,000 after purchasing an additional 8,365 shares during the period. Institutional investors and hedge funds own 87.44% of the company's stock.

CBIZ Stock Down 2.0 %

CBIZ stock traded down $1.48 on Monday, hitting $70.72. 149,479 shares of the stock traded hands, compared to its average volume of 328,862. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.36. The business's fifty day simple moving average is $79.31 and its 200 day simple moving average is $77.10. CBIZ, Inc. has a 1 year low of $62.65 and a 1 year high of $90.13. The firm has a market cap of $3.80 billion, a P/E ratio of 29.97 and a beta of 0.90.

Insiders Place Their Bets

In other news, Director Benaree Pratt Wiley sold 6,526 shares of CBIZ stock in a transaction that occurred on Thursday, March 6th. The stock was 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 in the company, valued at approximately $2,996,208.25. The trade was a 13.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.40% of the company's stock.

Analysts Set New Price Targets

CBZ has been the subject of a number of research reports. William Blair reissued an "outperform" rating on shares of CBIZ in a research note on Thursday, February 27th. StockNews.com lowered CBIZ from a "hold" rating to a "sell" rating in a research note on Tuesday, February 25th.

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.