Shell Asset Management Co. Reduces Position in CBIZ, Inc. (NYSE:CBZ)

Shell Asset Management Co. cut its position in shares of CBIZ, Inc. (NYSE:CBZFree Report) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,629 shares of the business services provider’s stock after selling 184 shares during the quarter. Shell Asset Management Co.’s holdings in CBIZ were worth $552,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CBZ. Morgan Stanley raised its holdings in CBIZ by 853.9% during the fourth quarter. Morgan Stanley now owns 3,871,416 shares of the business services provider’s stock worth $181,376,000 after purchasing an additional 3,465,585 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in CBIZ by 317.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,237,443 shares of the business services provider’s stock worth $51,935,000 after purchasing an additional 941,076 shares during the last quarter. Premier Fund Managers Ltd raised its holdings in shares of CBIZ by 596.0% in the third quarter. Premier Fund Managers Ltd now owns 615,942 shares of the business services provider’s stock worth $32,442,000 after acquiring an additional 527,448 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of CBIZ by 1,456.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 542,015 shares of the business services provider’s stock worth $21,659,000 after acquiring an additional 507,190 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of CBIZ in the fourth quarter worth $23,490,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Sidoti cut CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 price target for the company. in a report on Tuesday, January 2nd.

Check Out Our Latest Stock Report on CBZ

CBIZ Stock Performance

NYSE CBZ opened at $66.07 on Friday. CBIZ, Inc. has a fifty-two week low of $45.40 and a fifty-two week high of $66.23. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 27.41 and a beta of 0.80. The business has a fifty day moving average of $62.42 and a 200-day moving average of $57.17. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.48.

Insider Transactions at CBIZ

In other news, insider Ware H. Grove sold 6,849 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $57.99, for a total value of $397,173.51. Following the completion of the transaction, the insider now directly owns 267,675 shares of the company’s stock, valued at $15,522,473.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.40% of the company’s stock.

About CBIZ

(Free Report)

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through three segments: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.

Featured Articles

Want to see what other hedge funds are holding CBZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBIZ, Inc. (NYSE:CBZFree Report).

Institutional Ownership by Quarter for CBIZ (NYSE:CBZ)

Receive News & Ratings for CBIZ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBIZ and related companies with MarketBeat.com's FREE daily email newsletter.