Laurus Investment Counsel Inc. Cuts Holdings in CBIZ, Inc. (NYSE:CBZ)

Laurus Investment Counsel Inc. lessened its stake in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 49.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,890 shares of the business services provider's stock after selling 27,710 shares during the quarter. CBIZ makes up 1.0% of Laurus Investment Counsel Inc.'s holdings, making the stock its 24th biggest holding. Laurus Investment Counsel Inc. owned approximately 0.06% of CBIZ worth $1,944,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CBZ. Quest Partners LLC increased its position in CBIZ by 2,980.0% in the 2nd quarter. Quest Partners LLC now owns 462 shares of the business services provider's stock valued at $34,000 after acquiring an additional 447 shares during the period. Whittier Trust Co. bought a new stake in CBIZ in the first quarter worth approximately $54,000. Covestor Ltd lifted its stake in CBIZ by 45.5% in the first quarter. Covestor Ltd now owns 707 shares of the business services provider's stock valued at $56,000 after buying an additional 221 shares during the period. Picton Mahoney Asset Management bought a new position in shares of CBIZ during the 2nd quarter worth approximately $82,000. Finally, Ridgewood Investments LLC bought a new position in shares of CBIZ during the 2nd quarter worth approximately $137,000. Institutional investors own 87.44% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Sidoti upgraded shares of CBIZ from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $80.00 to $86.00 in a research note on Monday, August 12th. StockNews.com downgraded shares of CBIZ from a "hold" rating to a "sell" rating in a research note on Thursday, September 5th.

CBIZ Stock Up 1.0 %

NYSE:CBZ traded up $0.64 on Friday, hitting $67.99. The stock had a trading volume of 239,734 shares, compared to its average volume of 312,917. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. CBIZ, Inc. has a 52 week low of $49.15 and a 52 week high of $86.36. The business's fifty day moving average is $68.22 and its 200 day moving average is $73.33. The company has a market cap of $3.41 billion, a PE ratio of 29.18 and a beta of 0.92.

CBIZ (NYSE:CBZ - Get Free Report) last issued its earnings results on Thursday, August 1st. The business services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.68 by ($0.29). The firm had revenue of $420.00 million during the quarter, compared to the consensus estimate of $430.38 million. CBIZ had a return on equity of 14.58% and a net margin of 7.12%. CBIZ's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 earnings per share. On average, equities research analysts expect that CBIZ, Inc. will post 2.64 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.