Intech Investment Management LLC Makes New $679,000 Investment in CBIZ, Inc. (NYSE:CBZ)

Intech Investment Management LLC acquired a new stake in shares of CBIZ, Inc. (NYSE:CBZ) during the third quarter, HoldingsChannel.com reports. The fund acquired 10,090 shares of the business services provider’s stock, valued at approximately $679,000.

A number of other institutional investors have also made changes to their positions in the stock. Victory Capital Management Inc. lifted its position in CBIZ by 22.2% during the 3rd quarter. Victory Capital Management Inc. now owns 47,943 shares of the business services provider’s stock worth $3,226,000 after acquiring an additional 8,695 shares during the last quarter. Cannon Global Investment Management LLC acquired a new position in shares of CBIZ during the 3rd quarter worth about $740,000. Artemis Investment Management LLP boosted its stake in 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 bought a new stake in CBIZ during the 3rd quarter valued at approximately $1,865,000. Finally, Edgestream Partners L.P. acquired a new stake in CBIZ in the 2nd quarter valued at approximately $6,294,000. 87.44% of the stock is owned by institutional investors.

CBIZ Stock Up 0.2 %

Shares of CBZ opened at $82.58 on Friday. 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 company has a 50-day moving average price of $71.49 and a two-hundred day moving average price of $73.33. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 35.07 and a beta of 0.91. CBIZ, Inc. has a 12 month low of $57.19 and a 12 month high of $86.36.

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

Wall Street Analyst Weigh In

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

About CBIZ

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.