WCM Investment Management LLC Buys New Position in CBIZ, Inc. $CBZ

WCM Investment Management LLC bought a new position in shares of CBIZ, Inc. (NYSE:CBZ) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 278,955 shares of the business services provider’s stock, valued at approximately $15,011,000. WCM Investment Management LLC owned 0.52% of CBIZ as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CBZ. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of CBIZ during the 2nd quarter valued at about $35,000. Strategic Wealth Investment Group LLC acquired a new stake in CBIZ during the second quarter valued at approximately $37,000. EverSource Wealth Advisors LLC lifted its stake in CBIZ by 165.4% during the second quarter. EverSource Wealth Advisors LLC now owns 722 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 450 shares during the last quarter. AlphaQuest LLC boosted its holdings in CBIZ by 6,847.1% during the third quarter. AlphaQuest LLC now owns 1,181 shares of the business services provider’s stock worth $63,000 after buying an additional 1,164 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in CBIZ in the second quarter worth approximately $132,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of CBIZ in a research report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft assumed coverage on CBIZ in a research report on Monday, January 12th. They set a “hold” rating and a $60.00 target price on the stock. Finally, CJS Securities upgraded CBIZ to a “strong-buy” rating in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, CBIZ presently has an average rating of “Moderate Buy” and an average target price of $60.00.

CBIZ Price Performance

CBZ opened at $36.91 on Wednesday. The stock has a fifty day moving average of $49.47 and a 200-day moving average of $55.17. The firm has a market capitalization of $2.01 billion, a P/E ratio of 24.29 and a beta of 0.92. CBIZ, Inc. has a 12-month low of $36.01 and a 12-month high of $90.13. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.80.

Insider Buying and Selling at CBIZ

In other CBIZ news, CFO Brad S. Lakhia bought 2,060 shares of the stock in a transaction on Wednesday, November 26th. The shares were bought at an average price of $48.51 per share, with a total value of $99,930.60. Following the purchase, the chief financial officer directly owned 40,584 shares in the company, valued at $1,968,729.84. The trade was a 5.35% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Benaree Pratt Wiley sold 8,288 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $49.54, for a total transaction of $410,587.52. Following the completion of the sale, the director directly owned 35,956 shares of the company’s stock, valued at $1,781,260.24. This trade represents a 18.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.95% of the stock is currently owned by insiders.

CBIZ Company Profile

CBIZ, Inc (NYSE: CBZ), founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.

Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.