Fmr LLC Acquires 127,822 Shares of CBIZ, Inc. (NYSE:CBZ)

FMR LLC lifted its holdings in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 27.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 594,660 shares of the business services provider's stock after acquiring an additional 127,822 shares during the quarter. FMR LLC owned approximately 1.18% of CBIZ worth $40,015,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Comerica Bank boosted its stake in CBIZ by 17.8% in the 1st quarter. Comerica Bank now owns 3,719 shares of the business services provider's stock valued at $292,000 after purchasing an additional 563 shares during the period. SG Americas Securities LLC raised its holdings in CBIZ by 688.2% in the 2nd quarter. SG Americas Securities LLC now owns 13,321 shares of the business services provider's stock valued at $987,000 after acquiring an additional 11,631 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in CBIZ by 1.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,235 shares of the business services provider's stock valued at $1,203,000 after acquiring an additional 185 shares in the last quarter. Yarbrough Capital LLC raised its holdings in CBIZ by 34.6% in the 2nd quarter. Yarbrough Capital LLC now owns 8,884 shares of the business services provider's stock valued at $658,000 after acquiring an additional 2,283 shares in the last quarter. Finally, Retirement Systems of Alabama raised its holdings in CBIZ by 20.7% in the 2nd quarter. Retirement Systems of Alabama now owns 78,162 shares of the business services provider's stock valued at $5,792,000 after acquiring an additional 13,424 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CBZ has been the subject of several analyst reports. StockNews.com cut CBIZ from a "hold" rating to a "sell" rating in a report on Wednesday, November 20th. Sidoti raised CBIZ from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $80.00 to $86.00 in a report on Monday, August 12th.

CBIZ Price Performance

CBZ stock traded down $0.89 during midday trading on Monday, reaching $78.01. 569,493 shares of the stock were exchanged, compared to its average volume of 317,068. The stock has a market capitalization of $3.92 billion, a PE ratio of 33.43 and a beta of 0.95. CBIZ, Inc. has a 52 week low of $57.79 and a 52 week high of $86.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 1.49. The company has a fifty day moving average price of $72.92 and a 200 day moving average price of $73.38.

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

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.