Tower Research Capital LLC TRC Takes Position in CBIZ, Inc. (NYSE:CBZ)

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Tower Research Capital LLC TRC bought a new stake in shares of CBIZ, Inc. (NYSE:CBZ) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 18,505 shares of the business services provider’s stock, valued at approximately $363,000.

Several other large investors also recently bought and sold shares of the company. Northern Trust Corp grew its holdings in shares of CBIZ by 1.3% during the second quarter. Northern Trust Corp now owns 1,143,131 shares of the business services provider’s stock valued at $22,392,000 after purchasing an additional 14,464 shares during the last quarter. Investment Counselors of Maryland LLC grew its holdings in shares of CBIZ by 1.1% during the second quarter. Investment Counselors of Maryland LLC now owns 1,006,757 shares of the business services provider’s stock valued at $19,722,000 after purchasing an additional 10,820 shares during the last quarter. Granite Investment Partners LLC grew its holdings in shares of CBIZ by 1.3% during the second quarter. Granite Investment Partners LLC now owns 925,724 shares of the business services provider’s stock valued at $18,135,000 after purchasing an additional 11,992 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of CBIZ by 1.0% during the second quarter. Renaissance Technologies LLC now owns 848,226 shares of the business services provider’s stock valued at $16,617,000 after purchasing an additional 8,800 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of CBIZ by 121.3% during the second quarter. Wells Fargo & Company MN now owns 730,960 shares of the business services provider’s stock valued at $14,319,000 after purchasing an additional 400,681 shares during the last quarter. 87.07% of the stock is owned by institutional investors.

CBZ has been the subject of a number of recent analyst reports. ValuEngine raised CBIZ from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Zacks Investment Research raised CBIZ from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Friday, August 2nd.

CBZ stock traded up $0.17 on Friday, reaching $24.48. The company’s stock had a trading volume of 3,336 shares, compared to its average volume of 181,921. CBIZ, Inc. has a 52 week low of $18.64 and a 52 week high of $24.34. The company has a market capitalization of $1.31 billion, a P/E ratio of 22.48 and a beta of 0.36. The firm has a fifty day moving average of $23.06 and a two-hundred day moving average of $20.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.41 and a quick ratio of 1.41.

CBIZ (NYSE:CBZ) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. CBIZ had a return on equity of 10.89% and a net margin of 7.18%. The business had revenue of $235.50 million during the quarter, compared to analyst estimates of $243.01 million. During the same period in the prior year, the company posted $0.23 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts expect that CBIZ, Inc. will post 1.22 EPS for the current fiscal year.

In other CBIZ news, insider Ware H. Grove sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $23.24, for a total value of $581,000.00. Following the completion of the sale, the insider now directly owns 288,096 shares in the company, valued at $6,695,351.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven L. Gerard sold 70,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $23.10, for a total value of $1,617,000.00. Following the completion of the sale, the director now owns 264,782 shares of the company’s stock, valued at $6,116,464.20. The disclosure for this sale can be found here. Corporate insiders own 7.40% of the company’s stock.

CBIZ Profile

CBIZ, Inc provides professional business services, products, and solutions that help its clients in managing finances and employees. It offers its services through three groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services group provides accounting and tax, government healthcare consulting, financial advisory, valuation, and risk and advisory services.

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Institutional Ownership by Quarter for CBIZ (NYSE:CBZ)

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