Edgestream Partners L.P. Makes New Investment in CBIZ, Inc. (NYSE:CBZ)

Edgestream Partners L.P. bought a new stake in CBIZ, Inc. (NYSE:CBZ) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 84,936 shares of the business services provider’s stock, valued at approximately $6,294,000. Edgestream Partners L.P. owned 0.17% of CBIZ as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Assetmark Inc. lifted its stake in CBIZ by 24.8% in the 4th quarter. Assetmark Inc. now owns 905 shares of the business services provider’s stock valued at $57,000 after buying an additional 180 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of CBIZ by 1.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,235 shares of the business services provider’s stock valued at $1,203,000 after acquiring an additional 185 shares in the last quarter. Covestor Ltd boosted its stake in shares of CBIZ by 45.5% in the first quarter. Covestor Ltd now owns 707 shares of the business services provider’s stock worth $56,000 after acquiring an additional 221 shares during the last quarter. Arizona State Retirement System increased its position in shares of CBIZ by 2.2% during the second quarter. Arizona State Retirement System now owns 12,603 shares of the business services provider’s stock worth $934,000 after purchasing an additional 275 shares in the last quarter. Finally, Bridge City Capital LLC raised its stake in CBIZ by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 45,781 shares of the business services provider’s stock valued at $3,594,000 after purchasing an additional 359 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

CBIZ Price Performance

NYSE:CBZ opened at $67.96 on Tuesday. CBIZ, Inc. has a one year low of $49.15 and a one year high of $86.36. The stock has a market cap of $3.41 billion, a PE ratio of 27.51 and a beta of 0.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a 50 day moving average price of $73.61 and a 200 day moving average price of $74.99.

CBIZ (NYSE:CBZ) last issued its earnings results on Thursday, August 1st. The business services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.29). The company had revenue of $420.00 million during the quarter, compared to analyst estimates of $430.38 million. CBIZ had a return on equity of 14.58% and a net margin of 7.12%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business earned $0.55 earnings per share. Equities research analysts expect that CBIZ, Inc. will post 2.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CBZ shares. Sidoti raised shares of CBIZ from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $86.00 in a research note on Monday, August 12th. StockNews.com lowered shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th.

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.