Mawer Investment Management Ltd. Sells 238,366 Shares of CBIZ, Inc. (NYSE:CBZ)

Mawer Investment Management Ltd. cut its stake in CBIZ, Inc. (NYSE:CBZ) by 23.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 791,562 shares of the business services provider’s stock after selling 238,366 shares during the quarter. Mawer Investment Management Ltd. owned 1.58% of CBIZ worth $58,655,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in shares of CBIZ by 12.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 507,824 shares of the business services provider’s stock worth $31,785,000 after acquiring an additional 54,573 shares during the period. Capital World Investors bought a new stake in shares of CBIZ in the first quarter worth approximately $40,590,000. Artemis Investment Management LLP purchased a new position in shares of CBIZ in the first quarter worth approximately $17,148,000. Vanguard Group Inc. boosted its holdings in shares of CBIZ by 36.3% in the first quarter. Vanguard Group Inc. now owns 3,705,090 shares of the business services provider’s stock worth $290,850,000 after buying an additional 986,774 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of CBIZ in the fourth quarter worth approximately $19,874,000. 87.44% of the stock is currently owned by institutional investors.

CBIZ Stock Performance

CBZ opened at $65.60 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 26.56 and a beta of 0.92. The company’s 50 day moving average is $74.39 and its 200 day moving average is $75.31. CBIZ, Inc. has a 12-month low of $49.15 and a 12-month high of $86.36.

CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.29). CBIZ had a net margin of 7.12% and a return on equity of 14.58%. The firm had revenue of $420.00 million for the quarter, compared to analysts’ expectations of $430.38 million. During the same period in the prior year, the firm earned $0.55 EPS. CBIZ’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that CBIZ, Inc. will post 2.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. StockNews.com downgraded shares of CBIZ from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. Sidoti raised shares of CBIZ from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $86.00 in a report on Monday, August 12th.

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.