BlueMountain Capital Management LLC Acquires New Holdings in CBIZ, Inc. (NYSE:CBZ)

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BlueMountain Capital Management LLC purchased a new position in shares of CBIZ, Inc. (NYSE:CBZ) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 18,278 shares of the business services provider’s stock, valued at approximately $420,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC boosted its holdings in CBIZ by 49.4% during the second quarter. FMR LLC now owns 6,756,052 shares of the business services provider’s stock worth $155,389,000 after buying an additional 2,234,269 shares in the last quarter. BlackRock Inc. boosted its holdings in CBIZ by 11.0% during the second quarter. BlackRock Inc. now owns 3,701,179 shares of the business services provider’s stock worth $85,129,000 after buying an additional 366,511 shares in the last quarter. P2 Capital Partners LLC boosted its holdings in CBIZ by 5.1% during the first quarter. P2 Capital Partners LLC now owns 2,694,902 shares of the business services provider’s stock worth $49,182,000 after buying an additional 129,902 shares in the last quarter. Private Advisor Group LLC purchased a new stake in CBIZ during the second quarter worth about $3,013,000. Finally, Millennium Management LLC boosted its holdings in CBIZ by 91.4% during the first quarter. Millennium Management LLC now owns 232,884 shares of the business services provider’s stock worth $4,250,000 after buying an additional 111,215 shares in the last quarter. Institutional investors own 86.91% of the company’s stock.

Shares of NYSE:CBZ traded down $0.01 during trading on Friday, reaching $22.46. The stock had a trading volume of 250,978 shares, compared to its average volume of 215,921. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a market cap of $1.31 billion, a PE ratio of 25.82 and a beta of 0.61. CBIZ, Inc. has a fifty-two week low of $14.35 and a fifty-two week high of $24.38.

CBIZ (NYSE:CBZ) last posted its quarterly earnings data on Thursday, August 2nd. The business services provider reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. CBIZ had a net margin of 7.04% and a return on equity of 10.99%. The business had revenue of $232.60 million during the quarter, compared to analyst estimates of $223.86 million. During the same quarter in the previous year, the business posted $0.20 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that CBIZ, Inc. will post 1.08 earnings per share for the current fiscal year.

In other CBIZ news, insider Michael W. Gleespen sold 27,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $23.42, for a total transaction of $632,340.00. Following the completion of the sale, the insider now directly owns 118,880 shares in the company, valued at $2,784,169.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ware H. Grove sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $22.70, for a total transaction of $454,000.00. The disclosure for this sale can be found here. Insiders have sold 102,841 shares of company stock valued at $2,414,914 in the last ninety days. 7.20% of the stock is currently owned by company insiders.

A number of equities analysts have issued reports on CBZ shares. Zacks Investment Research cut shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. William Blair started coverage on shares of CBIZ in a research report on Monday, September 17th. They set an “outperform” rating for the company.

CBIZ Company Profile

CBIZ, Inc, through its subsidiaries, provides professional business services, products, and solutions in the United States and Canada. It offers its services through three practice groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services practice group provides accounting and tax compliance and consulting, litigation support, federal and state governmental healthcare compliance, valuation services, real estate consulting, and internal audit outsourcing services.

Read More: What are the Different Types of Leveraged Buyouts?

Institutional Ownership by Quarter for CBIZ (NYSE:CBZ)

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