Welch & Forbes LLC Makes New $212,000 Investment in CBIZ, Inc. (NYSE:CBZ)

Welch & Forbes LLC acquired a new stake in CBIZ, Inc. (NYSE:CBZ) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,383 shares of the business services provider’s stock, valued at approximately $212,000.

Several other institutional investors have also recently modified their holdings of CBZ. Deutsche Bank AG boosted its position in 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 buying an additional 43,897 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of CBIZ during the 3rd quarter worth about $536,000. Vanguard Group Inc. lifted its position in shares of CBIZ by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,667,189 shares of the business services provider’s stock valued at $138,427,000 after buying an additional 31,477 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of CBIZ in the third quarter valued at about $1,560,000. Finally, Burgundy Asset Management Ltd. lifted its position in shares of CBIZ by 8.2% in the third quarter. Burgundy Asset Management Ltd. now owns 2,039,382 shares of the business services provider’s stock valued at $105,844,000 after acquiring an additional 154,498 shares in the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

CBIZ Trading Up 0.3 %

CBZ stock traded up $0.20 during trading on Wednesday, reaching $75.80. 54,840 shares of the stock were exchanged, compared to its average volume of 302,595. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 30.61 and a beta of 0.87. The business has a 50 day moving average price of $75.57 and a 200-day moving average price of $66.33. CBIZ, Inc. has a 1 year low of $49.13 and a 1 year high of $79.55.

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). CBIZ had a net margin of 7.65% and a return on equity of 15.43%. The firm had revenue of $494.30 million for the quarter, compared to analysts’ expectations of $490.88 million. During the same period in the previous year, the firm posted $1.46 EPS. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, research analysts predict that CBIZ, Inc. will post 2.74 earnings per share for the current year.

About CBIZ

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.