CBIZ (NYSE:CBZ) Sets New 12-Month Low – What’s Next?

CBIZ, Inc. (NYSE:CBZ) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $33.60 and last traded at $34.2570, with a volume of 1790747 shares traded. The stock had previously closed at $38.27.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CBZ. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CBIZ in a research report on Monday, January 12th. They set a “hold” rating and a $60.00 price objective on the stock. CJS Securities upgraded shares of CBIZ to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of CBIZ in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

CBIZ Price Performance

The company’s 50-day simple moving average is $48.52 and its 200 day simple moving average is $54.12. The company has a market capitalization of $1.86 billion, a P/E ratio of 22.54 and a beta of 0.92. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.80.

Insiders Place Their Bets

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

Institutional Investors Weigh In On CBIZ

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd boosted its position in CBIZ by 377.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 559 shares of the business services provider’s stock worth $30,000 after purchasing an additional 442 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of CBIZ in the second quarter worth $35,000. Strategic Wealth Investment Group LLC bought a new stake in shares of CBIZ during the 2nd quarter worth $37,000. Danske Bank A S bought a new stake in shares of CBIZ during the 3rd quarter worth $42,000. Finally, Torren Management LLC acquired a new position in CBIZ in the 4th quarter valued at $48,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

About CBIZ

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.