KBC Group NV Raises Stock Position in CBIZ, Inc. (NYSE:CBZ)

KBC Group NV grew its stake in CBIZ, Inc. (NYSE:CBZ) by 29.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,553 shares of the business services provider’s stock after buying an additional 356 shares during the period. KBC Group NV’s holdings in CBIZ were worth $105,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. 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 valued at $34,000 after acquiring an additional 447 shares in the last quarter. Covestor Ltd boosted its position in shares of CBIZ by 45.5% in the 1st 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. Signaturefd LLC grew its stake in CBIZ by 55.8% during the 3rd quarter. Signaturefd LLC now owns 961 shares of the business services provider’s stock worth $65,000 after buying an additional 344 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in CBIZ during the second quarter worth approximately $82,000. Finally, US Bancorp DE lifted its stake in CBIZ by 16.1% in the third quarter. US Bancorp DE now owns 1,796 shares of the business services provider’s stock valued at $121,000 after buying an additional 249 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

CBIZ Stock Performance

Shares of CBZ stock opened at $79.36 on Friday. CBIZ, Inc. has a 52-week low of $57.01 and a 52-week high of $86.36. The stock’s 50-day moving average price is $69.74 and its 200 day moving average price is $73.07. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $3.98 billion, a PE ratio of 33.63 and a beta of 0.91.

CBIZ (NYSE:CBZ) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. The business had revenue of $438.90 million during the quarter, compared to analysts’ expectations of $440.16 million. During the same quarter in the prior year, the business earned $0.66 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts forecast that CBIZ, Inc. will post 2.65 EPS for the current year.

Wall Street Analyst Weigh In

CBZ has been the topic of a number of research reports. StockNews.com lowered shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Wednesday. Sidoti raised shares of CBIZ from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $86.00 in a research report on Monday, August 12th.

CBIZ Company 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.