Laurus Investment Counsel Inc. cut its stake in shares of CBIZ, Inc. (NYSE:CBZ – Free Report) by 49.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 28,890 shares of the business services provider’s stock after selling 27,710 shares during the period. CBIZ makes up approximately 1.0% of Laurus Investment Counsel Inc.’s holdings, making the stock its 24th largest holding. Laurus Investment Counsel Inc. owned about 0.06% of CBIZ worth $1,944,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quest Partners LLC boosted its stake in CBIZ by 2,980.0% during the 2nd quarter. Quest Partners LLC now owns 462 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 447 shares during the last quarter. Whittier Trust Co. bought a new position in CBIZ during the 1st quarter valued at $54,000. Covestor Ltd lifted its position in shares of CBIZ by 45.5% in the 1st quarter. Covestor Ltd now owns 707 shares of the business services provider’s stock worth $56,000 after buying an additional 221 shares during the last quarter. Picton Mahoney Asset Management bought a new position in shares of CBIZ in the 2nd quarter worth about $82,000. Finally, Ridgewood Investments LLC bought a new position in shares of CBIZ in the 2nd quarter worth about $137,000. 87.44% of the stock is owned by institutional investors and hedge funds.
CBIZ Stock Performance
CBIZ stock traded up $0.08 during trading hours on Friday, reaching $67.43. 67,450 shares of the company were exchanged, compared to its average volume of 312,064. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 28.91 and a beta of 0.92. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average of $68.22 and a 200 day moving average of $73.40. CBIZ, Inc. has a 12 month low of $49.15 and a 12 month high of $86.36.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. StockNews.com downgraded shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Sidoti raised shares of CBIZ from a “neutral” rating to a “buy” rating and raised their target price for the company from $80.00 to $86.00 in a research note on Monday, August 12th.
View Our Latest Analysis on CBIZ
CBIZ 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.
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