Zacks Investment Research downgraded shares of CBIZ (NYSE:CBZ) from a hold rating to a sell rating in a report issued on Monday morning.

According to Zacks, “CBIZ, Inc. provides professional business services that help clients better manage their finances and employees. CBIZ provides its clients with financial services including accounting, tax, financial advisory, government health care consulting, risk advisory, merger and acquisition advisory, real estate consulting, and valuation services. Employee services include employee benefits consulting, property and casualty insurance, retirement plan consulting, payroll, life insurance, HR consulting, and executive recruitment. As one of the nation’s largest brokers of employee benefits and property and casualty insurance, and one of the largest accounting and valuation companies in the United States, the Company’s services are provided through nearly 100 Company offices in 32 states. “

Several other analysts have also weighed in on the stock. William Blair started coverage on shares of CBIZ in a research note on Monday, September 17th. They issued an outperform rating for the company. Sidoti started coverage on shares of CBIZ in a research note on Tuesday, June 12th. They issued a buy rating for the company.

CBIZ stock opened at $23.95 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.46 and a quick ratio of 1.46. CBIZ has a 52-week low of $14.35 and a 52-week high of $24.38. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 27.53 and a beta of 0.63.

CBIZ (NYSE:CBZ) last released its quarterly earnings results on Thursday, August 2nd. The business services provider reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. CBIZ had a net margin of 7.04% and a return on equity of 10.99%. The firm had revenue of $232.60 million during the quarter, compared to analyst estimates of $223.86 million. During the same quarter last year, the business earned $0.20 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. analysts forecast that CBIZ will post 1.08 earnings per share for the current year.

In other CBIZ news, insider Ware H. Grove sold 10,000 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $23.75, for a total transaction of $237,500.00. Following the completion of the sale, the insider now owns 263,096 shares in the company, valued at approximately $6,248,530. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Spurio sold 35,841 shares of the business’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $23.81, for a total transaction of $853,374.21. Following the sale, the insider now owns 209,917 shares of the company’s stock, valued at approximately $4,998,123.77. The disclosure for this sale can be found here. Insiders sold a total of 102,841 shares of company stock valued at $2,414,914 in the last quarter. 7.20% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in CBIZ during the 1st quarter valued at $182,000. Bowling Portfolio Management LLC bought a new stake in CBIZ during the 2nd quarter valued at $222,000. Macquarie Group Ltd. increased its stake in CBIZ by 89.6% during the 2nd quarter. Macquarie Group Ltd. now owns 9,976 shares of the business services provider’s stock valued at $229,000 after purchasing an additional 4,715 shares in the last quarter. V Wealth Management LLC bought a new stake in CBIZ during the 2nd quarter valued at $255,000. Finally, GSA Capital Partners LLP bought a new stake in CBIZ during the 1st quarter valued at $264,000. Institutional investors and hedge funds own 86.91% of the company’s stock.

CBIZ Company Profile

CBIZ, Inc, through its subsidiaries, provides professional business services, products, and solutions in the United States and Canada. It offers its services through three practice groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services practice group provides accounting and tax compliance and consulting, litigation support, federal and state governmental healthcare compliance, valuation services, real estate consulting, and internal audit outsourcing services.

See Also: Earnings Per Share (EPS) Explained

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