Strs Ohio Has $5.93 Million Stake in CBIZ, Inc. (NYSE:CBZ)

Strs Ohio trimmed its holdings in CBIZ, Inc. (NYSE:CBZ) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,700 shares of the business services provider’s stock after selling 12,100 shares during the period. Strs Ohio owned 0.19% of CBIZ worth $5,927,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Morgan Stanley raised its position in shares of CBIZ by 853.9% in the fourth quarter. Morgan Stanley now owns 3,871,416 shares of the business services provider’s stock valued at $181,376,000 after buying an additional 3,465,585 shares in the last quarter. BlackRock Inc. increased its stake in CBIZ by 5.6% in the second quarter. BlackRock Inc. now owns 3,440,914 shares of the business services provider’s stock valued at $183,332,000 after acquiring an additional 184,006 shares during the last quarter. Eaton Vance Management increased its stake in CBIZ by 14.3% in the first quarter. Eaton Vance Management now owns 2,923,896 shares of the business services provider’s stock valued at $122,716,000 after acquiring an additional 364,887 shares during the last quarter. Vanguard Group Inc. increased its stake in CBIZ by 1.2% in the third quarter. Vanguard Group Inc. now owns 2,667,189 shares of the business services provider’s stock valued at $138,427,000 after acquiring an additional 31,477 shares during the last quarter. Finally, Burgundy Asset Management Ltd. increased its stake in CBIZ by 8.2% in the third quarter. Burgundy Asset Management Ltd. now owns 2,039,382 shares of the business services provider’s stock valued at $105,844,000 after acquiring an additional 154,498 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Sidoti cut shares of CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 price objective on the stock. in a research note on Tuesday, January 2nd.

CBIZ Stock Performance

Shares of NYSE:CBZ opened at $74.22 on Friday. The company’s 50 day simple moving average is $74.68 and its 200 day simple moving average is $64.25. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 31.18 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.20 and a quick ratio of 1.20. CBIZ, Inc. has a 1 year low of $49.13 and a 1 year high of $79.55.

CBIZ (NYSE:CBZ) last posted its earnings results on Thursday, February 15th. The business services provider reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. The firm had revenue of $327.50 million for the quarter, compared to analysts’ expectations of $308.87 million. CBIZ had a net margin of 7.60% and a return on equity of 15.49%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. As a group, research analysts predict that CBIZ, Inc. will post 2.74 EPS for the current fiscal year.

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.