Allianz Asset Management GmbH Raises Stake in CBIZ, Inc. (CBZ)

Allianz Asset Management GmbH grew its holdings in CBIZ, Inc. (NYSE:CBZ) by 80.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 181,817 shares of the business services provider’s stock after acquiring an additional 81,190 shares during the period. Allianz Asset Management GmbH’s holdings in CBIZ were worth $2,809,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company raised its stake in shares of CBIZ by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,771 shares of the business services provider’s stock valued at $596,000 after acquiring an additional 847 shares during the period. Swiss National Bank raised its stake in shares of CBIZ by 6.4% in the 4th quarter. Swiss National Bank now owns 88,700 shares of the business services provider’s stock valued at $1,370,000 after acquiring an additional 5,300 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of CBIZ by 1.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 377,396 shares of the business services provider’s stock valued at $5,831,000 after acquiring an additional 5,375 shares during the period. Brown Advisory Inc. raised its stake in shares of CBIZ by 21.1% in the 3rd quarter. Brown Advisory Inc. now owns 31,588 shares of the business services provider’s stock valued at $513,000 after acquiring an additional 5,513 shares during the period. Finally, Campbell & CO Investment Adviser LLC raised its stake in shares of CBIZ by 28.7% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 26,257 shares of the business services provider’s stock valued at $427,000 after acquiring an additional 5,850 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

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A number of equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of CBIZ from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. ValuEngine raised shares of CBIZ from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 1st.

Shares of CBZ stock opened at $19.00 on Wednesday. CBIZ, Inc. has a one year low of $13.40 and a one year high of $19.65. The stock has a market cap of $1,050.67, a price-to-earnings ratio of 21.17 and a beta of 0.70. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.34.

CBIZ (NYSE:CBZ) last released its quarterly earnings results on Thursday, February 15th. The business services provider reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.03. CBIZ had a net margin of 5.89% and a return on equity of 9.28%. The firm had revenue of $195.00 million for the quarter, compared to the consensus estimate of $191.40 million. During the same quarter in the previous year, the firm posted ($0.01) EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. analysts expect that CBIZ, Inc. will post 1.05 earnings per share for the current fiscal year.

CBIZ declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 14th that authorizes the company to buyback 5,000,000 shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In related news, Director Steven L. Gerard sold 109,947 shares of CBIZ stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $18.13, for a total transaction of $1,993,339.11. Following the sale, the director now owns 346,976 shares of the company’s stock, valued at approximately $6,290,674.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ware H. Grove sold 25,000 shares of the firm’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $18.35, for a total transaction of $458,750.00. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

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About CBIZ

CBIZ, Inc (CBIZ) is engaged in the professional services business. The Company operates its professional services business through acquiring and integrating accounting and financial service providers, group health benefits consulting firms, property and casualty brokerage firms, payroll service providers, and valuation and other service firms throughout the United States.

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Institutional Ownership by Quarter for CBIZ (NYSE:CBZ)

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