CBIZ, Inc. (NYSE:CBZ) Position Reduced by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC cut its position in shares of CBIZ, Inc. (NYSE:CBZ) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,880 shares of the business services provider’s stock after selling 194 shares during the quarter. Sawgrass Asset Management LLC’s holdings in CBIZ were worth $368,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Fortis Group Advisors LLC purchased a new stake in CBIZ during the third quarter valued at about $45,000. Exchange Traded Concepts LLC purchased a new stake in CBIZ during the fourth quarter valued at about $172,000. Compass Ion Advisors LLC purchased a new stake in CBIZ during the third quarter valued at about $202,000. Welch & Forbes LLC purchased a new stake in shares of CBIZ in the fourth quarter worth approximately $212,000. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of CBIZ by 6.2% in the third quarter. O Shaughnessy Asset Management LLC now owns 4,381 shares of the business services provider’s stock worth $227,000 after purchasing an additional 257 shares in the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

CBIZ Stock Up 1.3 %

Shares of NYSE CBZ traded up $0.99 during mid-day trading on Tuesday, reaching $75.60. The company had a trading volume of 178,259 shares, compared to its average volume of 305,465. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.54. CBIZ, Inc. has a twelve month low of $49.13 and a twelve month high of $79.55. The stock’s 50 day moving average is $75.59 and its 200-day moving average is $66.16. The stock has a market capitalization of $3.79 billion, a PE ratio of 30.61 and a beta of 0.87.

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

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Friday, April 26th.

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.