Laurus Investment Counsel Inc. Cuts Position in CBIZ, Inc. (NYSE:CBZ)

Laurus Investment Counsel Inc. cut its stake in CBIZ, Inc. (NYSE:CBZ) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,600 shares of the business services provider’s stock after selling 2,600 shares during the quarter. CBIZ comprises about 1.7% of Laurus Investment Counsel Inc.’s portfolio, making the stock its 17th biggest position. Laurus Investment Counsel Inc.’s holdings in CBIZ were worth $3,543,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CBZ. MetLife Investment Management LLC increased its holdings in shares of CBIZ by 60.8% in the 1st quarter. MetLife Investment Management LLC now owns 26,273 shares of the business services provider’s stock valued at $1,103,000 after acquiring an additional 9,933 shares during the period. Aviva PLC acquired a new stake in shares of CBIZ in the 1st quarter worth $1,557,000. Vanguard Group Inc. boosted its position in shares of CBIZ by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 2,551,939 shares of the business services provider’s stock worth $107,105,000 after purchasing an additional 23,498 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of CBIZ in the 1st quarter worth $1,203,000. Finally, Charles Schwab Investment Management Inc. lifted its position in CBIZ by 2.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 495,903 shares of the business services provider’s stock worth $20,814,000 after acquiring an additional 13,262 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

CBIZ Stock Performance

Shares of CBZ opened at $77.92 on Thursday. The stock has a 50-day moving average of $71.08 and a two-hundred day moving average of $61.79. CBIZ, Inc. has a one year low of $48.10 and a one year high of $78.91. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market cap of $3.90 billion, a P/E ratio of 32.74 and a beta of 0.83.

CBIZ (NYSE:CBZ) last issued 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. The company had revenue of $327.50 million during the quarter, compared to analysts’ expectations of $308.87 million. CBIZ had a return on equity of 15.49% and a net margin of 7.60%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.21) EPS. As a group, research analysts predict that CBIZ, Inc. will post 2.74 EPS for the current 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.