Geode Capital Management LLC Raises Position in CBIZ, Inc. (NYSE:CBZ)

Geode Capital Management LLC boosted its stake in CBIZ, Inc. (NYSE:CBZ - Free Report) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,109,074 shares of the business services provider's stock after purchasing an additional 11,615 shares during the quarter. Geode Capital Management LLC owned about 2.21% of CBIZ worth $74,644,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CBZ. Retirement Systems of Alabama lifted its holdings in shares of CBIZ by 20.7% during the 2nd quarter. Retirement Systems of Alabama now owns 78,162 shares of the business services provider's stock worth $5,792,000 after acquiring an additional 13,424 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of CBIZ by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 187,498 shares of the business services provider's stock worth $13,894,000 after buying an additional 4,602 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of CBIZ during the 2nd quarter worth $137,000. Panagora Asset Management Inc. boosted its stake in CBIZ by 5.6% in the second quarter. Panagora Asset Management Inc. now owns 33,060 shares of the business services provider's stock valued at $2,450,000 after buying an additional 1,749 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in CBIZ by 13.8% in the second quarter. Principal Financial Group Inc. now owns 22,143 shares of the business services provider's stock valued at $1,641,000 after buying an additional 2,684 shares in the last quarter. Institutional investors own 87.44% of the company's stock.

CBIZ Stock Up 1.0 %

CBIZ stock traded up $0.82 during midday trading on Friday, reaching $81.25. The stock had a trading volume of 564,315 shares, compared to its average volume of 319,395. The company has a fifty day moving average price of $75.48 and a two-hundred day moving average price of $73.59. The company has a market capitalization of $4.08 billion, a P/E ratio of 34.43 and a beta of 0.95. 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, Inc. has a 12 month low of $60.59 and a 12 month high of $86.36.

CBIZ (NYSE:CBZ - Get Free Report) last issued its earnings results 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. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. The company had revenue of $438.90 million for the quarter, compared to analyst estimates of $440.16 million. During the same period in the prior year, the firm earned $0.66 earnings per share. CBIZ's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities analysts expect that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded CBIZ from a "sell" rating to a "hold" rating in a research report on Thursday.

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.