First Trust Advisors LP Has $1.67 Million Stake in CBIZ, Inc. $CBZ

First Trust Advisors LP raised its position in CBIZ, Inc. (NYSE:CBZ) by 236.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,286 shares of the business services provider’s stock after buying an additional 43,758 shares during the quarter. First Trust Advisors LP’s holdings in CBIZ were worth $1,672,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CBZ. Bank of New York Mellon Corp boosted its position in shares of CBIZ by 17.8% during the 1st quarter. Bank of New York Mellon Corp now owns 166,787 shares of the business services provider’s stock worth $4,478,000 after acquiring an additional 25,214 shares in the last quarter. GatePass Capital LLC acquired a new position in CBIZ during the first quarter valued at approximately $2,636,000. Royce & Associates LP raised its position in CBIZ by 389.3% during the fourth quarter. Royce & Associates LP now owns 659,140 shares of the business services provider’s stock valued at $33,254,000 after purchasing an additional 524,438 shares in the last quarter. Clearline Capital LP bought a new stake in CBIZ during the fourth quarter worth $1,190,000. Finally, Bleakley Financial Group LLC bought a new stake in CBIZ during the first quarter worth $359,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

CBIZ Stock Performance

Shares of CBIZ stock opened at $54.52 on Friday. CBIZ, Inc. has a fifty-two week low of $24.29 and a fifty-two week 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 1.63. The firm has a market capitalization of $2.96 billion, a P/E ratio of 25.48, a P/E/G ratio of 1.14 and a beta of 0.93. The company’s 50 day moving average price is $39.00 and its two-hundred day moving average price is $33.81.

CBIZ (NYSE:CBZ) last posted its earnings results on Wednesday, July 29th. The business services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.19. CBIZ had a net margin of 4.73% and a return on equity of 12.33%. The firm had revenue of $682.21 million for the quarter, compared to analysts’ expectations of $697.96 million. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The company’s revenue was down .2% on a year-over-year basis. On average, equities analysts forecast that CBIZ, Inc. will post 4.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CBZ has been the topic of a number of research analyst reports. CJS Securities downgraded CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 target price on the stock. in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $42.00 price target on shares of CBIZ in a report on Thursday, April 30th. Stephens set a $37.00 price objective on CBIZ in a research note on Friday, May 1st. Weiss Ratings raised CBIZ from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. Finally, US Capital Advisors set a $55.00 target price on CBIZ in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.50.

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.