Swiss National Bank raised its stake in shares of CBIZ, Inc. (NYSE:CBZ) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,700 shares of the business services provider’s stock after purchasing an additional 5,300 shares during the period. Swiss National Bank owned 0.16% of CBIZ worth $1,370,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriprise Financial Inc. raised its position in shares of CBIZ by 0.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,840 shares of the business services provider’s stock valued at $208,000 after buying an additional 130 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of CBIZ during the 3rd quarter valued at about $228,000. Cubist Systematic Strategies LLC purchased a new stake in shares of CBIZ during the 3rd quarter valued at about $293,000. Teacher Retirement System of Texas purchased a new stake in shares of CBIZ during the 4th quarter valued at about $280,000. Finally, Macquarie Group Ltd. purchased a new stake in shares of CBIZ during the 3rd quarter valued at about $365,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.
Shares of CBIZ, Inc. (CBZ) opened at $19.00 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.34. The stock has a market cap of $1,058.92, a PE ratio of 21.11 and a beta of 0.70. CBIZ, Inc. has a 1 year low of $13.40 and a 1 year high of $19.65.
CBIZ announced that its board has authorized a share buyback program on Wednesday, February 14th that permits the company to repurchase 5,000,000 outstanding shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Steven L. Gerard sold 26,423 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $15.03, for a total value of $397,137.69. Following the sale, the director now directly owns 349,906 shares of the company’s stock, valued at approximately $5,259,087.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven L. Gerard sold 109,947 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $18.13, for a total transaction of $1,993,339.11. Following the completion of the sale, the director now directly owns 346,976 shares in the company, valued at $6,290,674.88. The disclosure for this sale can be found here. Insiders have sold a total of 161,370 shares of company stock worth $2,849,227 over the last 90 days. Corporate insiders own 6.90% of the company’s stock.
Several analysts have recently issued reports on CBZ shares. Zacks Investment Research upgraded shares of CBIZ from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, February 21st. ValuEngine cut shares of CBIZ from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.
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.
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