CBIZ, Inc. (NYSE:CBZ) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in CBIZ, Inc. (NYSE:CBZ) by 19.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 19,459 shares of the business services provider’s stock after buying an additional 3,179 shares during the period. Principal Financial Group Inc.’s holdings in CBIZ were worth $1,528,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Capital Research Global Investors acquired a new stake in CBIZ in the 4th quarter valued at approximately $47,831,000. Norges Bank acquired a new position in CBIZ during the 4th quarter worth about $19,874,000. Public Employees Retirement Association of Colorado purchased a new position in CBIZ during the 4th quarter valued at about $17,804,000. Artemis Investment Management LLP purchased a new position in CBIZ during the 1st quarter valued at about $17,148,000. Finally, Burgundy Asset Management Ltd. increased its stake in CBIZ by 5.5% during the fourth quarter. Burgundy Asset Management Ltd. now owns 2,151,499 shares of the business services provider’s stock worth $134,662,000 after purchasing an additional 112,117 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

CBIZ Stock Down 0.8 %

NYSE:CBZ traded down $0.59 during midday trading on Friday, reaching $73.93. The company had a trading volume of 32,043 shares, compared to its average volume of 296,733. CBIZ, Inc. has a 12-month low of $49.15 and a 12-month high of $80.42. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 30.17 and a beta of 0.93. 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 stock’s fifty day simple moving average is $75.49 and its 200-day simple moving average is $71.90.

CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Thursday, April 25th. The business services provider reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.03). CBIZ had a return on equity of 15.43% and a net margin of 7.65%. The firm had revenue of $494.30 million during the quarter, compared to analysts’ expectations of $490.88 million. During the same quarter in the prior year, the firm earned $1.46 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts anticipate that CBIZ, Inc. will post 2.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com raised shares of CBIZ from a “sell” rating to a “hold” rating in a research note on Thursday, June 27th.

CBIZ 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.