CBIZ, Inc. (NYSE:CBZ) Shares Purchased by Summit Creek Advisors LLC

Summit Creek Advisors LLC grew its position in CBIZ, Inc. (NYSE:CBZ - Free Report) by 19.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 304,076 shares of the business services provider's stock after acquiring an additional 50,435 shares during the quarter. CBIZ comprises approximately 3.3% of Summit Creek Advisors LLC's portfolio, making the stock its 5th biggest position. Summit Creek Advisors LLC owned approximately 0.61% of CBIZ worth $24,883,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in CBIZ by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 4,716,456 shares of the business services provider's stock worth $385,948,000 after purchasing an additional 43,784 shares during the last quarter. State Street Corp lifted its position in shares of CBIZ by 0.9% during the 3rd quarter. State Street Corp now owns 1,130,848 shares of the business services provider's stock valued at $76,095,000 after acquiring an additional 10,555 shares during the period. Geode Capital Management LLC boosted its stake in shares of CBIZ by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,109,074 shares of the business services provider's stock worth $74,644,000 after acquiring an additional 11,615 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of CBIZ by 7.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 704,888 shares of the business services provider's stock worth $47,432,000 after acquiring an additional 48,979 shares during the period. Finally, FMR LLC increased its stake in CBIZ by 27.4% in the 3rd quarter. FMR LLC now owns 594,660 shares of the business services provider's stock valued at $40,015,000 after purchasing an additional 127,822 shares in the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Insider Activity

In related news, Director Benaree Pratt Wiley sold 6,526 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $71.75, for a total value of $468,240.50. Following the completion of the transaction, the director now directly owns 41,759 shares in the company, valued at approximately $2,996,208.25. This represents a 13.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.40% of the company's stock.

CBIZ Price Performance

CBIZ stock traded down $0.07 during mid-day trading on Tuesday, hitting $73.98. 517,296 shares of the company were exchanged, compared to its average volume of 307,918. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 1.49. CBIZ, Inc. has a 12-month low of $62.66 and a 12-month high of $90.13. The business's 50 day simple moving average is $80.84 and its two-hundred day simple moving average is $76.64. The company has a market capitalization of $3.98 billion, a P/E ratio of 31.35 and a beta of 0.99.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. StockNews.com downgraded CBIZ from a "hold" rating to a "sell" rating in a research report on Tuesday, February 25th. William Blair reissued an "outperform" rating on shares of CBIZ in a research note on Thursday, February 27th.

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.