Pathstone Holdings LLC Raises Position in CBIZ, Inc. (NYSE:CBZ)

Pathstone Holdings LLC lifted its position in shares of CBIZ, Inc. (NYSE:CBZ) by 14.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 23,645 shares of the business services provider’s stock after acquiring an additional 2,927 shares during the quarter. Pathstone Holdings LLC’s holdings in CBIZ were worth $1,591,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Cannon Global Investment Management LLC bought a new position in CBIZ in the 3rd quarter worth approximately $740,000. Victory Capital Management Inc. grew its position in shares of CBIZ by 22.2% in the third quarter. Victory Capital Management Inc. now owns 47,943 shares of the business services provider’s stock valued at $3,226,000 after purchasing an additional 8,695 shares in the last quarter. Artemis Investment Management LLP raised its stake in shares of CBIZ by 22.8% during the 3rd quarter. Artemis Investment Management LLP now owns 332,534 shares of the business services provider’s stock valued at $22,376,000 after purchasing an additional 61,754 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in CBIZ during the 3rd quarter worth about $1,865,000. Finally, Edgestream Partners L.P. purchased a new stake in CBIZ during the 2nd quarter worth about $6,294,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

CBIZ Stock Performance

NYSE:CBZ opened at $82.44 on Thursday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.36. The business’s 50-day moving average price is $70.59 and its two-hundred day moving average price is $73.16. The stock has a market cap of $4.14 billion, a P/E ratio of 35.25 and a beta of 0.91. CBIZ, Inc. has a twelve month low of $57.01 and a twelve month high of $86.36.

CBIZ (NYSE:CBZ) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $438.90 million for the quarter, compared to analysts’ expectations of $440.16 million. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. CBIZ’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $0.66 EPS. As a group, equities analysts predict that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CBZ. StockNews.com downgraded shares of CBIZ from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Sidoti raised shares of CBIZ from a “neutral” rating to a “buy” rating and raised their price target for the company from $80.00 to $86.00 in a report on Monday, August 12th.

CBIZ Company Profile

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.