Geneva Capital Management LLC Takes $19.04 Million Position in CBIZ, Inc. (NYSE:CBZ)

Geneva Capital Management LLC purchased a new stake in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 282,914 shares of the business services provider's stock, valued at approximately $19,037,000. Geneva Capital Management LLC owned about 0.56% of CBIZ at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in shares of CBIZ by 22.2% in the 3rd quarter. Victory Capital Management Inc. now owns 47,943 shares of the business services provider's stock valued at $3,226,000 after acquiring an additional 8,695 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in shares of CBIZ in the 3rd quarter valued at approximately $1,865,000. Fiera Capital Corp raised its stake in shares of CBIZ by 2.0% in the 3rd quarter. Fiera Capital Corp now owns 178,355 shares of the business services provider's stock valued at $12,002,000 after acquiring an additional 3,475 shares during the period. Principal Financial Group Inc. raised its stake in shares of CBIZ by 25.8% in the 3rd quarter. Principal Financial Group Inc. now owns 27,860 shares of the business services provider's stock valued at $1,875,000 after acquiring an additional 5,717 shares during the period. Finally, Cannon Global Investment Management LLC purchased a new stake in shares of CBIZ in the 3rd quarter valued at approximately $740,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

CBIZ Stock Up 0.8 %

CBZ traded up $0.65 during trading hours on Wednesday, hitting $78.67. 96,087 shares of the company's stock were exchanged, compared to its average volume of 315,670. CBIZ, Inc. has a 12-month low of $56.64 and a 12-month high of $86.36. The firm has a 50 day moving average of $68.36 and a 200 day moving average of $72.80. The firm has a market cap of $3.95 billion, a P/E ratio of 33.56 and a beta of 0.91. 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 (NYSE:CBZ - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. CBIZ had a net margin of 7.08% and a return on equity of 15.12%. The company had revenue of $438.90 million during the quarter, compared to analysts' expectations of $440.16 million. During the same quarter in the previous year, the business posted $0.66 EPS. The firm's revenue was up 6.9% on a year-over-year basis. Analysts predict that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CBZ. Sidoti raised shares of CBIZ from a "neutral" rating to a "buy" rating and boosted their price target for the company from $80.00 to $86.00 in a research note on Monday, August 12th. StockNews.com raised shares of CBIZ from a "sell" rating to a "hold" rating in a research note on Tuesday.

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.