American Century Companies Inc. Sells 18,428 Shares of CBIZ, Inc. (NYSE:CBZ)

American Century Companies Inc. decreased its position in shares of CBIZ, Inc. (NYSE:CBZ) by 46.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 21,566 shares of the business services provider’s stock after selling 18,428 shares during the quarter. American Century Companies Inc.’s holdings in CBIZ were worth $1,598,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Quest Partners LLC boosted its stake in CBIZ by 2,980.0% in the second quarter. Quest Partners LLC now owns 462 shares of the business services provider’s stock worth $34,000 after buying an additional 447 shares in the last quarter. Whittier Trust Co. bought a new stake in shares of CBIZ in the first quarter worth approximately $54,000. Covestor Ltd boosted its stake in shares of CBIZ by 45.5% in the 1st quarter. Covestor Ltd now owns 707 shares of the business services provider’s stock worth $56,000 after buying an additional 221 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in CBIZ during the second quarter valued at approximately $82,000. Finally, Fortis Group Advisors LLC raised its position in CBIZ by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 1,750 shares of the business services provider’s stock worth $110,000 after acquiring an additional 875 shares during the period. Institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

CBZ has been the subject of a number of recent research reports. StockNews.com downgraded shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Sidoti upgraded CBIZ from a “neutral” rating to a “buy” rating and upped their price target for the stock from $80.00 to $86.00 in a research report on Monday, August 12th.

CBIZ Stock Performance

CBZ opened at $66.82 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 27.05 and a beta of 0.92. The company has a fifty day moving average of $71.43 and a 200 day moving average of $74.46. CBIZ, Inc. has a fifty-two week low of $49.15 and a fifty-two week high of $86.36.

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