Handelsbanken Fonder AB Grows Stock Holdings in CBIZ, Inc. (NYSE:CBZ)

Handelsbanken Fonder AB raised its holdings in shares of CBIZ, Inc. (NYSE:CBZ) by 7.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 347,000 shares of the business services provider’s stock after purchasing an additional 25,000 shares during the quarter. Handelsbanken Fonder AB owned 0.64% of CBIZ worth $26,323,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. grew its position in CBIZ by 157.2% in the fourth quarter. Invesco Ltd. now owns 769,209 shares of the business services provider’s stock worth $62,944,000 after acquiring an additional 470,095 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of CBIZ in the 4th quarter valued at approximately $32,859,000. Capital World Investors lifted its stake in shares of CBIZ by 37.6% in the 4th quarter. Capital World Investors now owns 1,134,585 shares of the business services provider’s stock valued at $92,843,000 after purchasing an additional 309,785 shares during the last quarter. Waters Parkerson & CO. LLC purchased a new position in shares of CBIZ in the 4th quarter worth approximately $23,383,000. Finally, SG Capital Management LLC bought a new position in shares of CBIZ during the 4th quarter valued at approximately $20,543,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CBZ has been the subject of a number of analyst reports. William Blair restated an “outperform” rating on shares of CBIZ in a research report on Friday, April 25th. Wall Street Zen downgraded shares of CBIZ from a “hold” rating to a “sell” rating in a research note on Tuesday, February 25th.

CBIZ Stock Down 2.0%

Shares of NYSE:CBZ opened at $71.15 on Wednesday. The firm has a market capitalization of $3.87 billion, a PE ratio of 30.15 and a beta of 0.93. The business has a 50 day simple moving average of $73.02 and a two-hundred day simple moving average of $77.99. CBIZ, Inc. has a 1 year low of $62.66 and a 1 year high of $90.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 1.49.

CBIZ (NYSE:CBZ) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, beating the consensus estimate of $2.11 by $0.18. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. The company had revenue of $838.01 million for the quarter, compared to the consensus estimate of $860.25 million. During the same quarter in the prior year, the company posted $1.54 EPS. CBIZ’s quarterly revenue was up 69.5% on a year-over-year basis. On average, equities analysts predict that CBIZ, Inc. will post 2.65 EPS for the current year.

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.