Welch & Forbes LLC Acquires New Shares in CBIZ, Inc. (NYSE:CBZ)

Welch & Forbes LLC bought a new position in shares of CBIZ, Inc. (NYSE:CBZ) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,647 shares of the business services provider’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. US Bancorp DE increased its holdings in shares of CBIZ by 16.1% during the third quarter. US Bancorp DE now owns 1,796 shares of the business services provider’s stock worth $121,000 after buying an additional 249 shares in the last quarter. Principal Financial Group Inc. increased its holdings in CBIZ by 25.8% in the 3rd quarter. Principal Financial Group Inc. now owns 27,860 shares of the business services provider’s stock worth $1,875,000 after purchasing an additional 5,717 shares in the last quarter. Fiera Capital Corp raised its position in CBIZ by 2.0% in the third quarter. Fiera Capital Corp now owns 178,355 shares of the business services provider’s stock valued at $12,002,000 after purchasing an additional 3,475 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in CBIZ in the third quarter valued at about $1,865,000. Finally, Victory Capital Management Inc. boosted its stake in shares of CBIZ by 22.2% during the third quarter. Victory Capital Management Inc. now owns 47,943 shares of the business services provider’s stock valued at $3,226,000 after purchasing an additional 8,695 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CBZ. William Blair reiterated an “outperform” rating on shares of CBIZ in a report on Thursday, February 27th. StockNews.com cut shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th.

CBIZ Stock Up 1.6 %

Shares of CBZ opened at $72.78 on Friday. The company has a market capitalization of $3.91 billion, a PE ratio of 30.84 and a beta of 0.99. The stock’s 50-day moving average price is $83.36 and its two-hundred day moving average price is $76.63. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.36. CBIZ, Inc. has a 12 month low of $62.65 and a 12 month high of $90.13.

CBIZ Company Profile

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.