StockNews.com cut shares of CBIZ (NYSE:CBZ – Free Report) from a hold rating to a sell rating in a research note published on Tuesday morning.
CBIZ Stock Performance
Shares of CBIZ stock opened at $78.12 on Tuesday. The company has a market capitalization of $3.92 billion, a PE ratio of 33.10 and a beta of 0.95. CBIZ has a 12 month low of $62.65 and a 12 month high of $90.13. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $84.22 and its 200 day simple moving average is $76.36.
Hedge Funds Weigh In On CBIZ
A number of hedge funds and other institutional investors have recently bought and sold shares of CBZ. Invesco Ltd. grew its holdings in CBIZ by 157.2% during the fourth quarter. Invesco Ltd. now owns 769,209 shares of the business services provider’s stock worth $62,944,000 after purchasing an additional 470,095 shares during the period. Wellington Management Group LLP bought a new stake in shares of CBIZ during the fourth quarter worth approximately $32,859,000. Capital World Investors boosted its holdings in shares of CBIZ by 37.6% during the fourth quarter. Capital World Investors now owns 1,134,585 shares of the business services provider’s stock worth $92,843,000 after acquiring an additional 309,785 shares during the period. Waters Parkerson & CO. LLC bought a new stake in shares of CBIZ during the fourth quarter worth approximately $23,383,000. Finally, Geneva Capital Management LLC bought a new stake in shares of CBIZ during the third quarter worth approximately $19,037,000. Institutional investors own 87.44% of the company’s stock.
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.
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