Victory Capital Management Inc. Buys 2,921 Shares of CBIZ, Inc. (CBZ)

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Victory Capital Management Inc. grew its stake in CBIZ, Inc. (NYSE:CBZ) by 15.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,297 shares of the business services provider’s stock after buying an additional 2,921 shares during the period. Victory Capital Management Inc.’s holdings in CBIZ were worth $490,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Millennium Management LLC grew its stake in CBIZ by 91.4% during the first quarter. Millennium Management LLC now owns 232,884 shares of the business services provider’s stock worth $4,250,000 after purchasing an additional 111,215 shares during the period. Acadian Asset Management LLC acquired a new stake in CBIZ during the second quarter worth approximately $2,502,000. Schwab Charles Investment Management Inc. grew its stake in CBIZ by 2.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 387,409 shares of the business services provider’s stock worth $7,071,000 after purchasing an additional 10,013 shares during the period. Royal Bank of Canada grew its stake in CBIZ by 122.0% during the first quarter. Royal Bank of Canada now owns 103,100 shares of the business services provider’s stock worth $1,882,000 after purchasing an additional 56,664 shares during the period. Finally, California Public Employees Retirement System grew its stake in CBIZ by 23.9% during the first quarter. California Public Employees Retirement System now owns 109,621 shares of the business services provider’s stock worth $2,001,000 after purchasing an additional 21,178 shares during the period. 86.92% of the stock is owned by institutional investors.

Shares of CBIZ stock opened at $23.75 on Thursday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.31. CBIZ, Inc. has a 52 week low of $14.35 and a 52 week high of $24.00. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 21.74 and a beta of 0.65.

CBIZ (NYSE:CBZ) last announced its quarterly earnings data on Thursday, August 2nd. The business services provider reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. CBIZ had a return on equity of 10.99% and a net margin of 7.04%. The firm had revenue of $232.60 million during the quarter, compared to analysts’ expectations of $223.86 million. During the same quarter last year, the firm posted $0.20 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. research analysts predict that CBIZ, Inc. will post 1.07 EPS for the current year.

In other CBIZ news, insider Ware H. Grove sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $23.75, for a total value of $237,500.00. Following the completion of the sale, the insider now owns 263,096 shares of the company’s stock, valued at $6,248,530. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael W. Gleespen sold 27,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $23.42, for a total value of $632,340.00. Following the completion of the sale, the insider now directly owns 118,880 shares of the company’s stock, valued at approximately $2,784,169.60. The disclosure for this sale can be found here. Insiders sold 93,163 shares of company stock valued at $2,118,517 in the last three months. Insiders own 7.20% of the company’s stock.

CBZ has been the subject of several recent analyst reports. Sidoti initiated coverage on CBIZ in a research note on Tuesday, June 12th. They set a “buy” rating for the company. ValuEngine cut CBIZ from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research cut CBIZ from a “buy” rating to a “hold” rating in a research note on Friday, June 29th.

About CBIZ

CBIZ, Inc, through its subsidiaries, provides professional business services, products, and solutions in the United States and Canada. It offers its services through three practice groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services practice group provides accounting and tax compliance and consulting, government health care consulting, financial advisory, valuation, litigation support, risk and advisory, real estate consulting, and internal audit outsourcing services.

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Institutional Ownership by Quarter for CBIZ (NYSE:CBZ)

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