Assenagon Asset Management S.A. Grows Holdings in CBIZ, Inc. (NYSE:CBZ)

Assenagon Asset Management S.A. raised its stake in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 70.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,800 shares of the business services provider's stock after acquiring an additional 15,200 shares during the period. Assenagon Asset Management S.A. owned approximately 0.07% of CBIZ worth $2,476,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CBZ. Quest Partners LLC boosted its holdings 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 purchasing an additional 447 shares in the last quarter. Whittier Trust Co. acquired a new position in CBIZ during the first quarter worth $54,000. Covestor Ltd raised its position in CBIZ by 45.5% in the first quarter. Covestor Ltd now owns 707 shares of the business services provider's stock worth $56,000 after acquiring an additional 221 shares in the last quarter. Signaturefd LLC lifted its holdings in CBIZ by 55.8% in the third quarter. Signaturefd LLC now owns 961 shares of the business services provider's stock valued at $65,000 after acquiring an additional 344 shares during the period. Finally, Picton Mahoney Asset Management purchased a new stake in shares of CBIZ during the 2nd quarter worth $82,000. 87.44% of the stock is owned by institutional investors and hedge funds.

CBIZ Price Performance

Shares of NYSE:CBZ traded up $0.77 during midday trading on Friday, hitting $69.70. 384,915 shares of the stock were exchanged, compared to its average volume of 315,427. The stock has a market cap of $3.50 billion, a P/E ratio of 29.21 and a beta of 0.92. CBIZ, Inc. has a twelve month low of $53.37 and a twelve month high of $86.36. The company has a 50 day moving average price of $67.89 and a 200-day moving average price of $72.86. 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 results on Tuesday, October 29th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. CBIZ had a net margin of 7.08% and a return on equity of 15.47%. The company had revenue of $438.90 million for the quarter, compared to the consensus estimate of $440.16 million. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. On average, research analysts forecast that CBIZ, Inc. will post 2.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CBZ shares. StockNews.com downgraded shares of CBIZ from a "hold" rating to a "sell" rating in a report on Thursday, September 5th. Sidoti upgraded CBIZ from a "neutral" rating to a "buy" rating and upped their price target for the stock from $80.00 to $86.00 in a report on Monday, August 12th.

CBIZ 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.