Corient Private Wealth LP Invests $5.38 Million in CBIZ, Inc. $CBZ

Corient Private Wealth LP bought a new position in CBIZ, Inc. (NYSE:CBZ) in the 2nd quarter, Holdings Channel reports. The firm bought 167,860 shares of the business services provider’s stock, valued at approximately $5,385,000.

A number of other large investors have also recently made changes to their positions in the company. Quantinno Capital Management LP lifted its stake in CBIZ by 543.8% in the first quarter. Quantinno Capital Management LP now owns 175,005 shares of the business services provider’s stock worth $4,699,000 after purchasing an additional 147,820 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of CBIZ by 17.8% during the first quarter. Bank of New York Mellon Corp now owns 166,787 shares of the business services provider’s stock valued at $4,478,000 after buying an additional 25,214 shares during the last quarter. Great Lakes Advisors LLC bought a new position in shares of CBIZ during the second quarter valued at approximately $1,142,000. Edgestream Partners L.P. purchased a new stake in shares of CBIZ in the first quarter worth approximately $3,611,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of CBIZ in the second quarter worth approximately $740,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

CBIZ Stock Performance

Shares of NYSE:CBZ opened at $54.49 on Tuesday. The firm’s 50 day simple moving average is $45.88 and its 200-day simple moving average is $35.42. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.47. CBIZ, Inc. has a one year low of $24.29 and a one year high of $64.90. The firm has a market cap of $2.96 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.14 and a beta of 0.92.

CBIZ (NYSE:CBZ) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.19. The firm had revenue of $682.21 million during the quarter, compared to analyst estimates of $697.96 million. CBIZ had a return on equity of 12.33% and a net margin of 4.73%.CBIZ’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 earnings per share. As a group, equities analysts predict that CBIZ, Inc. will post 4.1 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barrington Research began coverage on CBIZ in a report on Wednesday, June 24th. They set an “outperform” rating and a $45.00 price objective for the company. CJS Securities lowered CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 target price on the stock. in a research note on Thursday, July 30th. Weiss Ratings upgraded CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, US Capital Advisors set a $55.00 target price on CBIZ in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $44.50.

CBIZ Company Profile

CBIZ, Inc (NYSE: CBZ), founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.

Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.