CBIZ, Inc. (NYSE:CBZ) shares sold by Alberta Investment Management Corp

Alberta Investment Management Corp reduced its stake in CBIZ, Inc. (NYSE:CBZ – Free Report) by 36.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 66,797 shares of the business services provider after selling 38,671 shares during the same period. Alberta Investment Management Corp owned 0.13% of CBIZ worth $4,181,000, according to its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their hold on the company. Norges Bank acquired a new stake in shares of CBIZ in the 4th quarter valued at about $19,874,000. Burgundy Asset Management Ltd. increased its stake in shares of CBIZ by 8.2% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 2,039,382 shares of the business services provider's stock valued at $105,844,000 after acquiring an additional 154,498 shares during the same period. Fiera Capital Corp increased its stake in shares of CBIZ by 94.0% in the 3rd quarter. Fiera Capital Corp now owns 186,950 shares of the business services provider's stock valued at $9,703,000 after acquiring an additional 90,600 shares during the same period. Summit Creek Advisors LLC acquired a new stake in shares of CBIZ in the 4th quarter valued at about $5,194,000. Finally, GW&K Investment Management LLC increased its stake in shares of CBIZ by 7.6% in the 4th quarter. GW&K Investment Management LLC now owns 1,105,210 shares of the business services provider's stock valued at $69,175,000 after acquiring an additional 78,515 shares during the same period. Institutional investors and hedge funds own 87.44% of the company's stock.

Upgrades and downgrades by analysts

StockNews.com separately downgraded CBIZ shares from a “hold” rating to a “sell” rating in a report on Friday, April 26th.

Get our latest stock analysis on CBZ

CBIZ shares rise 1.4%

NYSE CBZ shares rose $1.04 during midday trading on Friday, reaching $75.82. The company had a trading volume of 387,370 shares, compared to its average volume of 207,214. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. The company has a 50-day simple moving average of $76.07 and a 200-day simple moving average of $69.21. The stock has a market cap of $3.80 billion, a P/E ratio of 30.70 and a beta of 0.87. CBIZ, Inc. has a 52-week low of $49.15 and a 52-week high of $80.42.

CBIZ (NYSE:CBZ – Get Free Report) last released its quarterly earnings results on Thursday, April 25. The business services provider reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.03). CBIZ had a return on equity of 15.43% and a net margin of 7.65%. The company posted revenue of $494.30 million for the quarter, compared to analyst expectations of $490.88 million. During the same period last year, the company posted earnings per share of $1.46. The company's revenue for the quarter grew 8.7% year-over-year. Sell-side analysts forecast that CBIZ, Inc. will report earnings per share of $2.74 for the current year.

CBIZ Company Profile

(Free report)

CBIZ, Inc provides financial, insurance, and consulting services in the United States and Canada. The company operates through Financial Services, Employee Benefits and Insurance Services, and National Practices segments. The Financial Services segment provides accounting and tax services, financial advisory, valuation, risk and consulting services, and government health care consulting services.

Further information

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