Premier Fund Managers Ltd Has $54.38 Million Stake in CBIZ, Inc. (NYSE:CBZ)

Premier Fund Managers Ltd raised its stake in CBIZ, Inc. (NYSE:CBZ) by 14.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 813,698 shares of the business services provider’s stock after acquiring an additional 100,000 shares during the quarter. CBIZ makes up approximately 1.9% of Premier Fund Managers Ltd’s investment portfolio, making the stock its 25th largest position. Premier Fund Managers Ltd’s holdings in CBIZ were worth $54,375,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CBZ. AQR Capital Management LLC lifted its stake in CBIZ by 1.2% in the 2nd quarter. AQR Capital Management LLC now owns 14,960 shares of the business services provider’s stock valued at $1,109,000 after purchasing an additional 176 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of CBIZ by 1.2% in the 2nd 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 during the last quarter. Inspire Investing LLC lifted its stake in shares of CBIZ by 4.2% in the 2nd quarter. Inspire Investing LLC now owns 4,757 shares of the business services provider’s stock valued at $352,000 after acquiring an additional 190 shares during the last quarter. Covestor Ltd boosted its holdings in shares of CBIZ by 45.5% during the 1st quarter. Covestor Ltd now owns 707 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 221 shares in the last quarter. Finally, US Bancorp DE grew its position in CBIZ by 16.1% during the 3rd quarter. US Bancorp DE now owns 1,796 shares of the business services provider’s stock worth $121,000 after acquiring an additional 249 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

CBIZ Stock Performance

NYSE CBZ opened at $77.07 on Wednesday. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 32.66 and a beta of 0.91. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.36. CBIZ, Inc. has a twelve month low of $57.01 and a twelve month high of $86.36. The stock has a fifty day simple moving average of $69.24 and a 200 day simple moving average of $72.99.

CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. The company had revenue of $438.90 million during 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%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share. Sell-side analysts expect that CBIZ, Inc. will post 2.65 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.