Chase Investment Counsel Corp Acquires 434 Shares of CBIZ, Inc. (NYSE:CBZ)

Chase Investment Counsel Corp increased its holdings in shares of CBIZ, Inc. (NYSE:CBZ) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,825 shares of the business services provider’s stock after purchasing an additional 434 shares during the quarter. Chase Investment Counsel Corp owned approximately 0.07% of CBIZ worth $2,054,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CBZ. Vanguard Group Inc. increased its position in shares of CBIZ by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,667,189 shares of the business services provider’s stock worth $138,427,000 after purchasing an additional 31,477 shares during the last quarter. Burgundy Asset Management Ltd. raised its position in CBIZ by 8.2% during the third quarter. Burgundy Asset Management Ltd. now owns 2,039,382 shares of the business services provider’s stock worth $105,844,000 after acquiring an additional 154,498 shares in the last quarter. Neumeier Poma Investment Counsel LLC raised its position in CBIZ by 2.8% during the third quarter. Neumeier Poma Investment Counsel LLC now owns 721,155 shares of the business services provider’s stock worth $37,428,000 after acquiring an additional 19,655 shares in the last quarter. Premier Fund Managers Ltd lifted its stake in CBIZ by 596.0% in the third quarter. Premier Fund Managers Ltd now owns 615,942 shares of the business services provider’s stock valued at $32,442,000 after acquiring an additional 527,448 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of CBIZ by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 495,356 shares of the business services provider’s stock valued at $25,709,000 after acquiring an additional 11,634 shares during the period. Institutional investors own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CBZ. Sidoti downgraded shares of CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 target price for the company. in a research note on Tuesday, January 2nd. StockNews.com lowered CBIZ from a “hold” rating to a “sell” rating in a research note on Friday.

CBIZ Stock Performance

CBIZ stock traded down $0.31 during mid-day trading on Monday, hitting $72.45. 89,447 shares of the company’s stock traded hands, compared to its average volume of 307,204. CBIZ, Inc. has a fifty-two week low of $49.13 and a fifty-two week high of $79.55. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 29.46 and a beta of 0.83. The firm has a 50 day simple moving average of $75.74 and a two-hundred day simple moving average of $65.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.54 and a quick ratio of 1.54.

CBIZ (NYSE:CBZ) last posted its earnings results on Thursday, April 25th. The business services provider reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.03). CBIZ had a return on equity of 15.43% and a net margin of 7.65%. The company had revenue of $494.30 million for the quarter, compared to analyst estimates of $490.88 million. During the same quarter in the prior year, the business posted $1.46 EPS. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, research analysts expect that CBIZ, Inc. will post 2.74 EPS for the current fiscal year.

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.