CBIZ, Inc. (NYSE:CBZ) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lessened its stake in CBIZ, Inc. (NYSE:CBZ) by 43.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 329,557 shares of the business services provider’s stock after selling 253,645 shares during the quarter. William Blair Investment Management LLC owned about 0.66% of CBIZ worth $25,870,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG increased its holdings in shares of CBIZ by 53.9% in the third quarter. Deutsche Bank AG now owns 125,341 shares of the business services provider’s stock valued at $6,505,000 after purchasing an additional 43,897 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in CBIZ by 12.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 507,824 shares of the business services provider’s stock worth $31,785,000 after acquiring an additional 54,573 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in CBIZ during the first quarter worth $17,148,000. Norges Bank acquired a new stake in CBIZ during the fourth quarter worth $19,874,000. Finally, Jump Financial LLC acquired a new stake in CBIZ during the fourth quarter worth $1,605,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

CBIZ Price Performance

CBZ stock opened at $84.11 on Thursday. The business has a fifty day moving average of $76.19 and a two-hundred day moving average of $72.90. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.50. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 34.05 and a beta of 0.93. CBIZ, Inc. has a 52-week low of $49.15 and a 52-week high of $84.67.

CBIZ (NYSE:CBZ) last released its quarterly earnings results on Thursday, April 25th. The business services provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.03). The firm had revenue of $494.30 million for the quarter, compared to analysts’ expectations of $490.88 million. CBIZ had a return on equity of 15.43% and a net margin of 7.65%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 earnings per share. As a group, research analysts anticipate that CBIZ, Inc. will post 2.74 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com cut CBIZ from a “hold” rating to a “sell” rating in a research note on Tuesday.

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.