Commonwealth Equity Services LLC Sells 2,470 Shares of CBIZ, Inc. (NYSE:CBZ)

Commonwealth Equity Services LLC trimmed its position in shares of CBIZ, Inc. (NYSE:CBZ – Get Rating) by 11.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,737 shares of the business services provider’s stock after selling 2,470 shares during the period. Commonwealth Equity Services LLC’s holdings in CBIZ were worth $877,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CBZ. MetLife Investment Management LLC grew its holdings in CBIZ by 60.8% during the 1st quarter. MetLife Investment Management LLC now owns 26,273 shares of the business services provider’s stock valued at $1,103,000 after purchasing an additional 9,933 shares during the last quarter. Aviva PLC bought a new position in CBIZ in the 1st quarter worth about $1,557,000. Vanguard Group Inc. grew its stake in CBIZ by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 2,551,939 shares of the business services provider’s stock worth $107,105,000 after acquiring an additional 23,498 shares in the last quarter. Prudential Financial Inc. bought a new position in CBIZ in the 1st quarter worth about $1,203,000. Finally, Charles Schwab Investment Management Inc. grew its stake in CBIZ by 2.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 495,903 shares of the business services provider’s stock worth $20,814,000 after acquiring an additional 13,262 shares in the last quarter. 88.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of CBIZ in a research note on Thursday, May 18th. They issued a “hold” rating on the stock.

CBIZ Stock Up 0.4 %

CBZ stock opened at $50.62 on Tuesday. The firm’s fifty day moving average is $49.91 and its 200 day moving average is $48.85. CBIZ, Inc. has a one year low of $37.01 and a one year high of $53.47. The firm has a market cap of $2.55 billion, a PE ratio of 21.63 and a beta of 0.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.41 and a current ratio of 1.41.

CBIZ (NYSE:CBZ – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The business services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.17. CBIZ had a net margin of 8.16% and a return on equity of 16.24%. The firm had revenue of $454.60 million for the quarter, compared to the consensus estimate of $432.66 million. During the same period last year, the firm posted $1.18 earnings per share. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, research analysts forecast that CBIZ, Inc. will post 2.41 EPS for the current year.

Insider Buying and Selling at CBIZ

In other CBIZ news, insider Ware H. Grove sold 1,515 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $52.85, for a total value of $80,067.75. Following the sale, the insider now directly owns 274,524 shares of the company’s stock, valued at approximately $14,508,593.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Ware H. Grove sold 1,515 shares of the stock in a transaction on Monday, May 1st. The shares were sold at an average price of $52.85, for a total value of $80,067.75. Following the transaction, the insider now directly owns 274,524 shares of the company’s stock, valued at approximately $14,508,593.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph S. Dimartino sold 4,873 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $50.39, for a total transaction of $245,550.47. Following the completion of the transaction, the director now directly owns 20,999 shares in the company, valued at $1,058,139.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,998 shares of company stock valued at $4,469,876. Insiders own 5.40% of the company’s stock.

CBIZ Company Profile

(Get Rating)

CBIZ, Inc engages in the provision of financial, insurance, and advisory services. It operates through the following segments: Financial Services, Benefits and Insurance Services, National Practices, and Corporate and Other. The Financial Services segment offers accounting, tax, government health care consulting, financial advisory, valuation, and risk advisory services.