Prudential Financial Inc. Increases Stake in CBIZ, Inc. (NYSE:CBZ)

Prudential Financial Inc. increased its position in shares of CBIZ, Inc. (NYSE:CBZ) by 348.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,992 shares of the business services provider’s stock after buying an additional 43,500 shares during the period. Prudential Financial Inc. owned about 0.11% of CBIZ worth $759,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. State Street Corp boosted its position in CBIZ by 12.0% in the fourth quarter. State Street Corp now owns 896,848 shares of the business services provider’s stock valued at $12,286,000 after buying an additional 96,072 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in CBIZ by 6.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 35,615 shares of the business services provider’s stock valued at $488,000 after buying an additional 2,057 shares during the last quarter. Norges Bank acquired a new position in CBIZ during the fourth quarter valued at approximately $9,981,000. Teachers Advisors LLC boosted its position in CBIZ by 23.6% in the fourth quarter. Teachers Advisors LLC now owns 124,786 shares of the business services provider’s stock valued at $1,710,000 after buying an additional 23,818 shares during the last quarter. Finally, Fenimore Asset Management Inc. purchased a new position in CBIZ during the first quarter worth about $6,867,000. Institutional investors and hedge funds own 85.12% of the company’s stock.

CBIZ, Inc. (CBZ) traded down 1.36% during mid-day trading on Friday, hitting $14.55. The company had a trading volume of 259,672 shares. The firm has a market capitalization of $790.46 million, a PE ratio of 17.22 and a beta of 0.91. The company has a 50 day moving average of $14.94 and a 200 day moving average of $14.52. CBIZ, Inc. has a 1-year low of $10.73 and a 1-year high of $15.90.

CBIZ (NYSE:CBZ) last issued its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. CBIZ had a net margin of 5.54% and a return on equity of 9.42%. The company had revenue of $211 million for the quarter, compared to the consensus estimate of $207.42 million. During the same period last year, the firm posted $0.16 EPS. CBIZ’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts predict that CBIZ, Inc. will post $0.87 earnings per share for the current fiscal year.

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A number of research firms have recently weighed in on CBZ. Zacks Investment Research lowered CBIZ from a “buy” rating to a “hold” rating in a research report on Wednesday, May 31st. BidaskClub lowered CBIZ from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, ValuEngine raised CBIZ from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd.

In other news, insider Ware H. Grove sold 25,000 shares of CBIZ stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $15.10, for a total value of $377,500.00. Following the sale, the insider now owns 258,272 shares of the company’s stock, valued at $3,899,907.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ware H. Grove sold 22,927 shares of CBIZ stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $15.25, for a total transaction of $349,636.75. Following the completion of the sale, the insider now directly owns 262,673 shares in the company, valued at approximately $4,005,763.25. The disclosure for this sale can be found here. 7.20% of the stock is owned by insiders.

About CBIZ

CBIZ, Inc (CBIZ) is engaged in the professional services business. The Company operates its professional services business through acquiring and integrating accounting and financial service providers, group health benefits consulting firms, property and casualty brokerage firms, payroll service providers, and valuation and other service firms throughout the United States.

Institutional Ownership by Quarter for CBIZ (NYSE:CBZ)

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