Allspring Global Investments Holdings LLC Increases Holdings in CBIZ, Inc. (NYSE:CBZ)

Allspring Global Investments Holdings LLC lifted its position in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,125,766 shares of the business services provider's stock after buying an additional 11,401 shares during the period. Allspring Global Investments Holdings LLC owned about 2.24% of CBIZ worth $75,753,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CBZ. Vanguard Group Inc. raised its position in CBIZ by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 2,718,316 shares of the business services provider's stock valued at $170,139,000 after purchasing an additional 51,127 shares during the last quarter. Artemis Investment Management LLP bought a new stake in shares of CBIZ during the 1st quarter valued at about $17,148,000. Chatham Capital Group Inc. increased its position in shares of CBIZ by 12.4% during the first quarter. Chatham Capital Group Inc. now owns 51,457 shares of the business services provider's stock valued at $4,039,000 after buying an additional 5,690 shares during the period. Principal Financial Group Inc. raised its stake in CBIZ by 19.5% in the first quarter. Principal Financial Group Inc. now owns 19,459 shares of the business services provider's stock worth $1,528,000 after buying an additional 3,179 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in CBIZ by 2.7% in the first quarter. Private Advisor Group LLC now owns 43,465 shares of the business services provider's stock worth $3,412,000 after buying an additional 1,130 shares during the period. 87.44% of the stock is currently owned by institutional investors.

CBIZ Stock Down 1.1 %

NYSE:CBZ traded down $0.72 during trading hours on Tuesday, reaching $66.04. 218,555 shares of the company traded hands, compared to its average volume of 312,002. CBIZ, Inc. has a 1 year low of $49.15 and a 1 year high of $86.36. The stock has a market capitalization of $3.32 billion, a P/E ratio of 28.24 and a beta of 0.92. The business's 50-day moving average price is $68.18 and its two-hundred day moving average price is $73.22. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43.

CBIZ (NYSE:CBZ - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.29). The firm had revenue of $420.00 million for the quarter, compared to analysts' expectations of $430.38 million. CBIZ had a net margin of 7.12% and a return on equity of 14.58%. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $0.55 earnings per share. Analysts predict that CBIZ, Inc. will post 2.64 earnings per share for the current year.

Analysts Set New Price Targets

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

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.