Point72 Asset Management L.P. Acquires Shares of 11,267 CBIZ, Inc. (NYSE:CBZ)

Point72 Asset Management L.P. purchased a new position in CBIZ, Inc. (NYSE:CBZ - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,267 shares of the business services provider's stock, valued at approximately $758,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Quest Partners LLC grew its stake in CBIZ by 2,980.0% during 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. Signaturefd LLC boosted its holdings in shares of CBIZ by 55.8% during the 3rd quarter. Signaturefd LLC now owns 961 shares of the business services provider's stock valued at $65,000 after purchasing an additional 344 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in shares of CBIZ during the second quarter valued at about $82,000. KBC Group NV increased its holdings in shares of CBIZ by 29.7% in the third quarter. KBC Group NV now owns 1,553 shares of the business services provider's stock worth $105,000 after purchasing an additional 356 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of CBIZ by 16.1% in the third quarter. US Bancorp DE now owns 1,796 shares of the business services provider's stock worth $121,000 after buying an additional 249 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

CBIZ Price Performance

CBZ traded up $1.99 during trading hours on Thursday, hitting $79.90. The company's stock had a trading volume of 305,302 shares, compared to its average volume of 316,711. CBIZ, Inc. has a 12 month low of $59.05 and a 12 month high of $86.36. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.36. The business's 50-day moving average price is $73.92 and its 200-day moving average price is $73.45. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 33.85 and a beta of 0.95.

CBIZ (NYSE:CBZ - Get Free Report) last posted 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 net margin of 7.08% and a return on equity of 15.12%. The firm had revenue of $438.90 million for the quarter, compared to the consensus estimate of $440.16 million. During the same period in the previous year, the firm posted $0.66 EPS. The business's quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts expect that CBIZ, Inc. will post 2.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.