Sawgrass Asset Management LLC Sells 143 Shares of CBIZ, Inc. (NYSE:CBZ)

Sawgrass Asset Management LLC trimmed its holdings in shares of CBIZ, Inc. (NYSE:CBZ) by 3.1% in the third quarter, HoldingsChannel.com reports. The fund owned 4,477 shares of the business services provider’s stock after selling 143 shares during the period. Sawgrass Asset Management LLC’s holdings in CBIZ were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. AQR Capital Management LLC raised its stake in CBIZ by 1.2% in the 2nd quarter. AQR Capital Management LLC now owns 14,960 shares of the business services provider’s stock valued at $1,109,000 after acquiring an additional 176 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in CBIZ by 1.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,235 shares of the business services provider’s stock valued at $1,203,000 after buying an additional 185 shares during the period. Inspire Investing LLC grew its holdings in shares of CBIZ by 4.2% during the second quarter. Inspire Investing LLC now owns 4,757 shares of the business services provider’s stock worth $352,000 after purchasing an additional 190 shares in the last quarter. Covestor Ltd grew its stake in CBIZ by 45.5% in the 1st quarter. Covestor Ltd now owns 707 shares of the business services provider’s stock worth $56,000 after buying an additional 221 shares in the last quarter. Finally, US Bancorp DE increased its stake in CBIZ by 16.1% in the third quarter. US Bancorp DE now owns 1,796 shares of the business services provider’s stock valued at $121,000 after acquiring an additional 249 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

CBIZ Price Performance

CBZ opened at $76.48 on Friday. CBIZ, Inc. has a 12-month low of $56.64 and a 12-month high of $86.36. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 32.41 and a beta of 0.91. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $68.76 and a two-hundred day simple moving average of $72.92.

CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $438.90 million for the quarter, compared to analysts’ expectations of $440.16 million. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 EPS. Research analysts predict that CBIZ, Inc. will post 2.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CBZ. StockNews.com raised shares of CBIZ from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Sidoti raised CBIZ from a “neutral” rating to a “buy” rating and boosted their target price for the company from $80.00 to $86.00 in a research note on Monday, August 12th.

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.