Cannon Global Investment Management LLC Invests $740,000 in CBIZ, Inc. (NYSE:CBZ)

Cannon Global Investment Management LLC acquired a new stake in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,000 shares of the business services provider's stock, valued at approximately $740,000. CBIZ accounts for approximately 1.2% of Cannon Global Investment Management LLC's holdings, making the stock its 20th biggest holding.

Several other institutional investors also recently bought and sold shares of CBZ. Quest Partners LLC boosted its stake in CBIZ by 2,980.0% in the second 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 in the last quarter. Whittier Trust Co. acquired a new stake in CBIZ in the first quarter valued at approximately $54,000. Covestor Ltd boosted 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 acquiring an additional 221 shares in the last quarter. Signaturefd LLC boosted its stake 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 in the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in CBIZ in the second quarter valued at approximately $82,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

CBIZ Stock Performance

CBIZ stock traded up $0.77 during trading hours on Friday, hitting $69.70. 384,915 shares of the stock traded hands, compared to its average volume of 323,937. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.48. The firm's 50 day moving average price is $67.80 and its 200-day moving average price is $72.78. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 29.53 and a beta of 0.90. CBIZ, Inc. has a 1 year low of $53.37 and a 1 year high of $86.36.

CBIZ (NYSE:CBZ - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. The business had revenue of $438.90 million for the quarter, compared to the consensus estimate of $440.16 million. CBIZ had a return on equity of 15.47% and a net margin of 7.08%. The company's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS. As a group, equities analysts expect that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on CBZ. Sidoti upgraded shares of CBIZ from a "neutral" rating to a "buy" rating and raised their target price for the company from $80.00 to $86.00 in a research note on Monday, August 12th. StockNews.com lowered shares of CBIZ from a "hold" rating to a "sell" rating in a 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.