Stone Ridge Asset Management LLC Purchases New Holdings in CBIZ, Inc. (CBZ)
Stone Ridge Asset Management LLC purchased a new position in CBIZ, Inc. (NYSE:CBZ) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 48,149 shares of the business services provider’s stock, valued at approximately $744,000.
Other institutional investors have also made changes to their positions in the company. Koch Industries Inc. bought a new stake in CBIZ during the 4th quarter valued at $158,000. SG Americas Securities LLC bought a new stake in CBIZ during the 3rd quarter valued at $228,000. Citadel Advisors LLC bought a new stake in CBIZ during the 4th quarter valued at $234,000. Teacher Retirement System of Texas bought a new stake in CBIZ during the 4th quarter valued at $280,000. Finally, Cubist Systematic Strategies LLC bought a new stake in CBIZ during the 3rd quarter valued at $293,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Steven L. Gerard sold 109,947 shares of CBIZ stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $18.13, for a total transaction of $1,993,339.11. Following the transaction, the director now directly owns 346,976 shares in the company, valued at approximately $6,290,674.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ware H. Grove sold 25,000 shares of CBIZ stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $18.35, for a total value of $458,750.00. The disclosure for this sale can be found here. 6.90% of the stock is owned by insiders.
Shares of CBIZ stock opened at $18.90 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market capitalization of $1,045.17, a price-to-earnings ratio of 21.84 and a beta of 0.70. CBIZ, Inc. has a 12 month low of $13.40 and a 12 month high of $19.65.
CBIZ (NYSE:CBZ) last announced its earnings results on Thursday, February 15th. The business services provider reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. The firm had revenue of $195.00 million for the quarter, compared to the consensus estimate of $191.40 million. CBIZ had a return on equity of 9.28% and a net margin of 5.89%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) EPS. equities research 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 initiated a stock repurchase plan on Wednesday, February 14th that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
CBIZ Company Profile
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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