CBIZ (NYSE:CBZ) Reaches New 1-Year High – Here’s Why

CBIZ, Inc. (NYSE:CBZ) hit a new 52-week high during trading on Wednesday . The stock traded as high as $87.09 and last traded at $86.91, with a volume of 15420 shares trading hands. The stock had previously closed at $85.74.

Analysts Set New Price Targets

Separately, StockNews.com raised CBIZ from a “sell” rating to a “hold” rating in a research note on Friday, December 27th.

CBIZ Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market cap of $4.39 billion, a PE ratio of 37.06 and a beta of 0.95. The stock has a fifty day moving average price of $82.43 and a 200-day moving average price of $75.25.

Hedge Funds Weigh In On CBIZ

Several institutional investors and hedge funds have recently bought and sold shares of CBZ. AQR Capital Management LLC raised its stake in shares of 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 in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of CBIZ by 1.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,279 shares of the business services provider’s stock worth $2,021,000 after buying an additional 357 shares during the period. Creative Planning boosted its stake in shares of CBIZ by 6.8% in the 2nd quarter. Creative Planning now owns 15,932 shares of the business services provider’s stock valued at $1,181,000 after purchasing an additional 1,012 shares in the last quarter. Truist Financial Corp grew its stake in CBIZ by 7.1% during the second quarter. Truist Financial Corp now owns 10,978 shares of the business services provider’s stock worth $813,000 after buying an additional 723 shares during the last quarter. Finally, Artemis Investment Management LLP increased its holdings in CBIZ by 22.8% during the 3rd quarter. Artemis Investment Management LLP now owns 332,534 shares of the business services provider’s stock valued at $22,376,000 after purchasing an additional 61,754 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

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.