CBIZ Inc. (CBZ) Sees Strong Trading Volume
CBIZ Inc. (NYSE:CBZ) saw an uptick in trading volume on Friday . 224,312 shares were traded during trading, an increase of 53% from the previous session’s volume of 146,141 shares.The stock last traded at $11.16 and had previously closed at $11.08.
A number of brokerages recently weighed in on CBZ. Sidoti began coverage on CBIZ in a research note on Tuesday, July 19th. They set a “buy” rating for the company. Zacks Investment Research cut CBIZ from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th.
The company’s 50 day moving average price is $11.27 and its 200-day moving average price is $10.58. The firm has a market capitalization of $578.03 million, a P/E ratio of 15.51 and a beta of 0.67.
CBIZ (NYSE:CBZ) last issued its earnings results on Tuesday, August 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $197 million for the quarter, compared to analysts’ expectations of $198.70 million. CBIZ had a return on equity of 11.75% and a net margin of 4.94%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $0.13 earnings per share. On average, equities analysts predict that CBIZ Inc. will post $0.75 EPS for the current year.
In related news, Director Steven L. Gerard sold 46,216 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $11.35, for a total value of $524,551.60. Following the sale, the director now owns 385,756 shares in the company, valued at approximately $4,378,330.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Steven L. Gerard sold 28,784 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $11.42, for a total value of $328,713.28. Following the completion of the sale, the director now owns 385,756 shares in the company, valued at approximately $4,405,333.52. The disclosure for this sale can be found here. 7.20% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in CBZ. Prudential Financial Inc. purchased a new stake in CBIZ during the second quarter worth $127,000. Ameriprise Financial Inc. boosted its stake in CBIZ by 8.4% in the second quarter. Ameriprise Financial Inc. now owns 13,490 shares of the company’s stock worth $140,000 after buying an additional 1,040 shares in the last quarter. BlackRock Inc. boosted its stake in CBIZ by 328.6% in the second quarter. BlackRock Inc. now owns 14,517 shares of the company’s stock worth $151,000 after buying an additional 11,130 shares in the last quarter. BlackRock Group LTD boosted its stake in CBIZ by 308.2% in the first quarter. BlackRock Group LTD now owns 16,253 shares of the company’s stock worth $164,000 after buying an additional 12,271 shares in the last quarter. Finally, BlackRock Advisors LLC boosted its stake in CBIZ by 7.2% in the second quarter. BlackRock Advisors LLC now owns 24,920 shares of the company’s stock worth $259,000 after buying an additional 1,682 shares in the last quarter. Institutional investors and hedge funds own 85.46% of the company’s stock.
CBIZ Company Profile
CBIZ, Inc is engaged in providing professional business services, products and solutions to businesses, as well as individuals, governmental entities and not-for-profit enterprises, throughout the United States and parts of Canada. The Company’s business units are aggregated into three practice groups: Financial Services, National Practices and Employee Services.
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