Kavar Capital Partners LLC Sells 1,000 Shares of CBIZ, Inc. (NYSE:CBZ)

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Kavar Capital Partners LLC trimmed its holdings in shares of CBIZ, Inc. (NYSE:CBZ) by 8.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,798 shares of the business services provider’s stock after selling 1,000 shares during the quarter. Kavar Capital Partners LLC’s holdings in CBIZ were worth $212,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of CBZ. Norges Bank purchased a new position in CBIZ during the fourth quarter worth about $21,969,000. Granite Investment Partners LLC boosted its holdings in CBIZ by 18.5% during the 1st quarter. Granite Investment Partners LLC now owns 913,732 shares of the business services provider’s stock valued at $18,494,000 after acquiring an additional 142,415 shares during the period. Fenimore Asset Management Inc. boosted its holdings in CBIZ by 8.3% during the 2nd quarter. Fenimore Asset Management Inc. now owns 590,085 shares of the business services provider’s stock valued at $11,560,000 after acquiring an additional 45,430 shares during the period. Martingale Asset Management L P boosted its holdings in CBIZ by 17.5% during the 1st quarter. Martingale Asset Management L P now owns 270,258 shares of the business services provider’s stock valued at $5,471,000 after acquiring an additional 40,323 shares during the period. Finally, Acadian Asset Management LLC raised its position in CBIZ by 38.0% during the 1st quarter. Acadian Asset Management LLC now owns 131,725 shares of the business services provider’s stock valued at $2,665,000 after purchasing an additional 36,275 shares during the last quarter. Institutional investors and hedge funds own 88.17% of the company’s stock.

CBIZ stock traded up $0.07 during trading on Thursday, reaching $22.98. The company had a trading volume of 2,048 shares, compared to its average volume of 232,305. CBIZ, Inc. has a 52 week low of $18.64 and a 52 week high of $24.38. The business’s 50-day moving average is $21.44. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 21.08 and a beta of 0.35. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.41 and a quick ratio of 1.41.

CBIZ (NYSE:CBZ) last announced its earnings results on Wednesday, July 31st. The business services provider reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.05. The company had revenue of $235.50 million for the quarter, compared to analysts’ expectations of $243.01 million. CBIZ had a return on equity of 10.89% and a net margin of 7.18%. CBIZ’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS. On average, sell-side analysts forecast that CBIZ, Inc. will post 1.22 EPS for the current year.

Separately, Zacks Investment Research upgraded CBIZ from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Friday, August 2nd.

In other CBIZ news, insider Ware H. Grove sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $20.52, for a total transaction of $410,400.00. Following the sale, the insider now directly owns 283,096 shares of the company’s stock, valued at $5,809,129.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ware H. Grove sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $23.24, for a total value of $581,000.00. Following the sale, the insider now directly owns 288,096 shares in the company, valued at $6,695,351.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,000 shares of company stock worth $1,237,420. Insiders own 7.40% of the company’s stock.

CBIZ Company Profile

CBIZ, Inc provides professional business services, products, and solutions that help its clients in managing finances and employees. It offers its services through three groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services group provides accounting and tax, government healthcare consulting, financial advisory, valuation, and risk and advisory services.

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Institutional Ownership by Quarter for CBIZ (NYSE:CBZ)

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