Victory Capital Management Inc. Reduces Stock Holdings in CBIZ, Inc. (NYSE:CBZ)

Victory Capital Management Inc. cut its holdings in CBIZ, Inc. (NYSE:CBZ) by 9.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,248 shares of the business services provider’s stock after selling 4,045 shares during the quarter. Victory Capital Management Inc. owned about 0.08% of CBIZ worth $2,908,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CBZ. Whittier Trust Co. acquired a new position in shares of CBIZ in the 1st quarter valued at $54,000. Covestor Ltd increased its holdings in shares of CBIZ by 45.5% in the first quarter. Covestor Ltd now owns 707 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 221 shares during the period. Assetmark Inc. raised its stake in shares of CBIZ by 24.8% in the fourth quarter. Assetmark Inc. now owns 905 shares of the business services provider’s stock worth $57,000 after purchasing an additional 180 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of CBIZ during the fourth quarter worth about $63,000. Finally, Picton Mahoney Asset Management purchased a new stake in CBIZ in the second quarter valued at approximately $82,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

CBIZ Stock Down 0.3 %

CBIZ stock opened at $67.78 on Wednesday. The business’s 50-day moving average price is $73.61 and its 200 day moving average price is $74.99. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 27.38 and a beta of 0.92. CBIZ, Inc. has a 52 week low of $49.15 and a 52 week high of $86.36.

CBIZ (NYSE:CBZ) last released its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.29). The company had revenue of $420.00 million during the quarter, compared to analysts’ expectations of $430.38 million. CBIZ had a return on equity of 14.58% and a net margin of 7.12%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 EPS. As a group, sell-side analysts anticipate that CBIZ, Inc. will post 2.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.