Capital Research Global Investors Sells 405,687 Shares of CBIZ, Inc. (NYSE:CBZ)

Capital Research Global Investors lowered its holdings in shares of CBIZ, Inc. (NYSE:CBZ) by 10.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,526,288 shares of the business services provider’s stock after selling 405,687 shares during the period. Capital Research Global Investors owned 7.03% of CBIZ worth $288,556,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of CBIZ by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 4,716,456 shares of the business services provider’s stock worth $385,948,000 after acquiring an additional 43,784 shares during the last quarter. Capital World Investors raised its position in shares of CBIZ by 37.6% in the fourth quarter. Capital World Investors now owns 1,134,585 shares of the business services provider’s stock valued at $92,843,000 after purchasing an additional 309,785 shares during the period. Geode Capital Management LLC lifted its stake in shares of CBIZ by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,109,074 shares of the business services provider’s stock worth $74,644,000 after buying an additional 11,615 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of CBIZ by 157.2% during the 4th quarter. Invesco Ltd. now owns 769,209 shares of the business services provider’s stock worth $62,944,000 after buying an additional 470,095 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in CBIZ by 7.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 704,888 shares of the business services provider’s stock valued at $47,432,000 after buying an additional 48,979 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. William Blair reaffirmed an “outperform” rating on shares of CBIZ in a report on Thursday, February 27th.

Insider Activity at CBIZ

In other CBIZ news, Director Benaree Pratt Wiley sold 6,526 shares of CBIZ stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $71.75, for a total value of $468,240.50. Following the completion of the transaction, the director now directly owns 41,759 shares of the company’s stock, valued at $2,996,208.25. The trade was a 13.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.40% of the stock is currently owned by corporate insiders.

CBIZ Stock Performance

NYSE CBZ opened at $77.45 on Friday. The firm has a 50-day moving average price of $76.71 and a two-hundred day moving average price of $77.70. CBIZ, Inc. has a 12-month low of $62.66 and a 12-month high of $90.13. The company has a market capitalization of $4.19 billion, a P/E ratio of 32.82 and a beta of 0.90. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.36.

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.