Clark Estates Inc. NY Has $3.50 Million Stake in CBIZ, Inc. (CBZ)
Clark Estates Inc. NY lowered its stake in CBIZ, Inc. (NYSE:CBZ) by 12.1% during the second quarter, Holdings Channel reports. The institutional investor owned 233,000 shares of the business services provider’s stock after selling 32,000 shares during the period. Clark Estates Inc. NY’s holdings in CBIZ were worth $3,495,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of CBZ. Two Sigma Securities LLC purchased a new stake in CBIZ during the first quarter valued at about $141,000. Gotham Asset Management LLC purchased a new stake in CBIZ during the first quarter valued at about $151,000. Ameriprise Financial Inc. raised its stake in CBIZ by 2.6% in the first quarter. Ameriprise Financial Inc. now owns 13,710 shares of the business services provider’s stock valued at $186,000 after buying an additional 350 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in CBIZ during the first quarter valued at about $215,000. Finally, Karp Capital Management Corp purchased a new stake in CBIZ during the first quarter valued at about $289,000. Institutional investors and hedge funds own 84.77% of the company’s stock.
Shares of CBIZ, Inc. (NYSE:CBZ) opened at 14.45 on Friday. The company’s 50 day moving average is $15.01 and its 200 day moving average is $14.44. The firm has a market cap of $785.03 million, a price-to-earnings ratio of 17.10 and a beta of 0.91. CBIZ, Inc. has a 52-week low of $10.73 and a 52-week high of $15.90.
CBIZ (NYSE:CBZ) last posted its earnings results on Thursday, August 3rd. The business services provider reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02. The business had revenue of $211 million for the quarter, compared to analyst estimates of $207.42 million. CBIZ had a net margin of 5.54% and a return on equity of 9.42%. CBIZ’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 EPS. Analysts anticipate that CBIZ, Inc. will post $0.87 earnings per share for the current year.
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CBZ has been the topic of several analyst reports. Zacks Investment Research upgraded shares of CBIZ from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Friday, April 28th. ValuEngine upgraded shares of CBIZ from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd.
In other news, insider Ware H. Grove sold 12,000 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $15.24, for a total value of $182,880.00. Following the transaction, the insider now owns 265,100 shares of the company’s stock, valued at approximately $4,040,124. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ware H. Grove sold 22,927 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $15.25, for a total transaction of $349,636.75. Following the completion of the transaction, the insider now directly owns 262,673 shares in the company, valued at approximately $4,005,763.25. The disclosure for this sale can be found here. Insiders sold a total of 77,927 shares of company stock worth $1,182,297 in the last three months. Insiders own 7.20% of the company’s stock.
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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