First Republic Investment Management Inc. Increases Position in CBIZ, Inc. (CBZ)

First Republic Investment Management Inc. lifted its position in CBIZ, Inc. (NYSE:CBZ) by 7.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,810 shares of the business services provider’s stock after purchasing an additional 3,993 shares during the period. First Republic Investment Management Inc.’s holdings in CBIZ were worth $1,170,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CBZ. Bank of New York Mellon Corp boosted its holdings in shares of CBIZ by 17.7% in the third quarter. Bank of New York Mellon Corp now owns 446,829 shares of the business services provider’s stock valued at $10,591,000 after purchasing an additional 67,179 shares during the period. Man Group plc purchased a new stake in shares of CBIZ in the third quarter valued at approximately $537,000. MetLife Investment Advisors LLC boosted its holdings in shares of CBIZ by 55.1% in the third quarter. MetLife Investment Advisors LLC now owns 37,822 shares of the business services provider’s stock valued at $896,000 after purchasing an additional 13,435 shares during the period. AQR Capital Management LLC boosted its holdings in shares of CBIZ by 75.5% in the third quarter. AQR Capital Management LLC now owns 104,514 shares of the business services provider’s stock valued at $2,477,000 after purchasing an additional 44,964 shares during the period. Finally, Teachers Advisors LLC boosted its holdings in shares of CBIZ by 2.8% in the third quarter. Teachers Advisors LLC now owns 105,233 shares of the business services provider’s stock valued at $2,494,000 after purchasing an additional 2,854 shares during the period. Hedge funds and other institutional investors own 88.47% of the company’s stock.

CBIZ stock opened at $19.80 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.51. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 18.17 and a beta of 0.46. CBIZ, Inc. has a twelve month low of $18.64 and a twelve month high of $24.38.

CBIZ (NYSE:CBZ) last posted its earnings results on Thursday, April 25th. The business services provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). The company had revenue of $270.00 million for the quarter, compared to analysts’ expectations of $278.78 million. CBIZ had a return on equity of 10.52% and a net margin of 6.82%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. Analysts anticipate that CBIZ, Inc. will post 1.19 earnings per share for the current fiscal year.

A number of research firms have weighed in on CBZ. Zacks Investment Research upgraded CBIZ from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Friday, February 15th. ValuEngine lowered CBIZ from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th.

In other CBIZ news, insider Michael P. Kouzelos sold 18,200 shares of the company’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $21.27, for a total transaction of $387,114.00. Following the completion of the sale, the insider now owns 299,184 shares in the company, valued at $6,363,643.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Todd J. Slotkin sold 3,500 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $20.14, for a total value of $70,490.00. Following the sale, the director now owns 40,375 shares of the company’s stock, valued at approximately $813,152.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,442 shares of company stock valued at $737,163. 7.40% of the stock is owned by company insiders.

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CBIZ Company Profile

CBIZ, Inc provides professional business services, products, and solutions that help its clients in managing finances and employees. It offers its services through three groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services group provides accounting and tax, government healthcare consulting, financial advisory, valuation, and risk and advisory services.

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Institutional Ownership by Quarter for CBIZ (NYSE:CBZ)

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