CBIZ (NYSE:CBZ) Trading Down 3.8% – Should You Sell?

CBIZ, Inc. (NYSE:CBZ)’s share price fell 3.8% during mid-day trading on Wednesday . The company traded as low as $74.76 and last traded at $74.08. 39,388 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 318,648 shares. The stock had previously closed at $76.98.

Wall Street Analyst Weigh In

CBZ has been the topic of several recent analyst reports. StockNews.com downgraded shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. William Blair reiterated an “outperform” rating on shares of CBIZ in a research note on Thursday, February 27th.

CBIZ Stock Performance

The firm has a market cap of $4.06 billion, a P/E ratio of 31.97 and a beta of 0.99. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.49 and a current ratio of 1.49. The business’s 50-day simple moving average is $79.93 and its 200 day simple moving average is $76.97.

Insiders Place Their Bets

In other news, Director Benaree Pratt Wiley sold 6,526 shares of CBIZ stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $71.75, for a total transaction of $468,240.50. Following the transaction, the director now owns 41,759 shares in the company, valued at $2,996,208.25. This trade represents a 13.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On CBIZ

Several institutional investors and hedge funds have recently bought and sold shares of CBZ. Charles Schwab Investment Management Inc. grew its stake in shares of CBIZ by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 525,330 shares of the business services provider’s stock valued at $35,349,000 after acquiring an additional 9,872 shares during the period. Citigroup Inc. boosted its position in shares of CBIZ by 205.1% in the third quarter. Citigroup Inc. now owns 53,204 shares of the business services provider’s stock worth $3,580,000 after purchasing an additional 35,768 shares during the period. Cerity Partners LLC increased its stake in shares of CBIZ by 26.6% in the third quarter. Cerity Partners LLC now owns 13,636 shares of the business services provider’s stock worth $918,000 after purchasing an additional 2,861 shares in the last quarter. FMR LLC raised its position in shares of CBIZ by 27.4% during the 3rd quarter. FMR LLC now owns 594,660 shares of the business services provider’s stock valued at $40,015,000 after purchasing an additional 127,822 shares during the period. Finally, Glenmede Trust Co. NA lifted its stake in shares of CBIZ by 16.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 4,425 shares of the business services provider’s stock valued at $298,000 after buying an additional 633 shares in the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

About CBIZ

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.