Waters Parkerson & CO. LLC Takes $23.38 Million Position in CBIZ, Inc. (NYSE:CBZ)

Waters Parkerson & CO. LLC acquired a new stake in CBIZ, Inc. (NYSE:CBZ) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 285,755 shares of the business services provider’s stock, valued at approximately $23,383,000. CBIZ makes up approximately 1.2% of Waters Parkerson & CO. LLC’s holdings, making the stock its 29th biggest position.

A number of other hedge funds have also made changes to their positions in CBZ. Royce & Associates LP lifted its stake in CBIZ by 7.0% in the fourth quarter. Royce & Associates LP now owns 208,919 shares of the business services provider’s stock valued at $17,096,000 after buying an additional 13,738 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of CBIZ by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 535,880 shares of the business services provider’s stock worth $43,851,000 after buying an additional 10,550 shares during the last quarter. Principal Financial Group Inc. raised its holdings in CBIZ by 13.1% during the 4th quarter. Principal Financial Group Inc. now owns 31,523 shares of the business services provider’s stock worth $2,580,000 after purchasing an additional 3,663 shares during the last quarter. King Luther Capital Management Corp raised its position in shares of CBIZ by 11.3% in the 4th quarter. King Luther Capital Management Corp now owns 82,135 shares of the business services provider’s stock worth $6,721,000 after acquiring an additional 8,365 shares in the last quarter. Finally, Bridge City Capital LLC increased its stake in CBIZ by 8.3% in the fourth quarter. Bridge City Capital LLC now owns 84,479 shares of the business services provider’s stock valued at $6,913,000 after purchasing an additional 6,451 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CBZ. William Blair restated an “outperform” rating on shares of CBIZ in a research note on Friday, April 25th. StockNews.com lowered shares of CBIZ from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th.

Insider Activity at CBIZ

In other news, Director Benaree Pratt Wiley sold 6,526 shares of CBIZ stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $71.75, for a total transaction of $468,240.50. Following the sale, the director now owns 41,759 shares of the company’s stock, valued at approximately $2,996,208.25. The trade was a 13.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.95% of the stock is currently owned by corporate insiders.

CBIZ Price Performance

CBZ opened at $74.12 on Monday. CBIZ, Inc. has a 52-week low of $62.66 and a 52-week high of $90.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.49 and a current ratio of 1.49. The company’s 50-day simple moving average is $73.14 and its two-hundred day simple moving average is $78.46. The stock has a market capitalization of $4.03 billion, a P/E ratio of 31.41 and a beta of 0.91.

CBIZ (NYSE:CBZ) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.18. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. The business had revenue of $838.01 million during the quarter, compared to analysts’ expectations of $860.25 million. During the same quarter last year, the business posted $1.54 EPS. The firm’s revenue for the quarter was up 69.5% compared to the same quarter last year. As a group, analysts predict that CBIZ, Inc. will post 2.65 EPS 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.