Handelsbanken Fonder AB decreased its position in shares of CBIZ, Inc. (NYSE:CBZ – Free Report) by 95.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,900 shares of the business services provider’s stock after selling 262,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in CBIZ were worth $446,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its stake in CBIZ by 377.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 559 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 442 shares in the last quarter. Strategic Wealth Investment Group LLC purchased a new stake in CBIZ during the second quarter worth $37,000. EverSource Wealth Advisors LLC boosted its position in CBIZ by 667.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,512 shares of the business services provider’s stock worth $41,000 after purchasing an additional 1,315 shares in the last quarter. Danske Bank A S acquired a new stake in CBIZ in the third quarter valued at $42,000. Finally, Torren Management LLC acquired a new stake in CBIZ in the fourth quarter valued at $48,000. Institutional investors and hedge funds own 87.44% of the company’s stock.
CBIZ Price Performance
CBIZ stock opened at $55.05 on Friday. The stock has a market capitalization of $2.99 billion, a P/E ratio of 25.72, a P/E/G ratio of 1.15 and a beta of 0.93. CBIZ, Inc. has a 12-month low of $24.29 and a 12-month high of $67.24. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.47. The firm’s 50-day moving average is $42.77 and its two-hundred day moving average is $34.55.
Analyst Ratings Changes
CBZ has been the subject of several research reports. Weiss Ratings raised CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. CJS Securities cut shares of CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 price objective on the stock. in a research note on Thursday, July 30th. Barrington Research initiated coverage on shares of CBIZ in a report on Wednesday, June 24th. They set an “outperform” rating and a $45.00 target price for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $42.00 target price on shares of CBIZ in a research report on Thursday, April 30th. Finally, US Capital Advisors set a $55.00 price target on shares of CBIZ in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $44.50.
View Our Latest Stock Analysis on CBZ
About CBIZ
CBIZ, Inc (NYSE: CBZ), founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.
Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.
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