Mirae Asset Global Investments Co. Ltd. Raises Stock Position in CBIZ, Inc. (NYSE:CBZ)

Mirae Asset Global Investments Co. Ltd. grew its holdings in CBIZ, Inc. (NYSE:CBZ) by 6.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,229 shares of the business services provider’s stock after buying an additional 1,325 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in CBIZ were worth $1,454,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Assenagon Asset Management S.A. grew its stake in shares of CBIZ by 167.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 93,543 shares of the business services provider’s stock worth $5,855,000 after buying an additional 58,549 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of CBIZ in the 4th quarter worth $384,000. Exchange Traded Concepts LLC purchased a new position in shares of CBIZ in the 4th quarter worth $172,000. Vanguard Group Inc. grew its stake in shares of CBIZ by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,667,189 shares of the business services provider’s stock worth $138,427,000 after buying an additional 31,477 shares in the last quarter. Finally, Fortis Group Advisors LLC purchased a new position in shares of CBIZ during the 3rd quarter worth about $45,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

CBIZ Price Performance

CBZ stock opened at $74.92 on Monday. CBIZ, Inc. has a 12 month low of $49.13 and a 12 month high of $79.55. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average price of $74.86 and a 200 day moving average price of $64.59. The stock has a market cap of $3.75 billion, a PE ratio of 31.48 and a beta of 0.83.

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

CBIZ Company 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.