CBIZ (CBZ) Hits New 12-Month High at $24.05
CBIZ, Inc. (NYSE:CBZ) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $24.05 and last traded at $23.80, with a volume of 600 shares trading hands. The stock had previously closed at $23.95.
Several brokerages have recently issued reports on CBZ. Zacks Investment Research raised CBIZ from a “sell” rating to a “hold” rating in a research report on Monday. Sidoti began coverage on CBIZ in a research report on Tuesday, June 12th. They set a “buy” rating for the company.
The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 27.59 and a beta of 0.62.
In other CBIZ news, insider Ware H. Grove sold 14,963 shares of the firm’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $21.50, for a total value of $321,704.50. Following the completion of the transaction, the insider now owns 288,059 shares in the company, valued at approximately $6,193,268.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ware H. Grove sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $23.75, for a total value of $237,500.00. Following the completion of the transaction, the insider now owns 263,096 shares of the company’s stock, valued at approximately $6,248,530. The disclosure for this sale can be found here. Insiders have sold a total of 93,163 shares of company stock valued at $2,118,517 in the last quarter. 7.20% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC boosted its stake in CBIZ by 91.4% in the 1st quarter. Millennium Management LLC now owns 232,884 shares of the business services provider’s stock worth $4,250,000 after purchasing an additional 111,215 shares during the period. Acadian Asset Management LLC bought a new position in CBIZ in the 2nd quarter worth about $2,502,000. Schwab Charles Investment Management Inc. boosted its stake in CBIZ by 2.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 387,409 shares of the business services provider’s stock worth $7,071,000 after purchasing an additional 10,013 shares during the period. Victory Capital Management Inc. bought a new position in CBIZ in the 1st quarter worth about $335,000. Finally, Private Advisor Group LLC bought a new position in CBIZ in the 2nd quarter worth about $3,013,000. Institutional investors and hedge funds own 86.92% of the company’s stock.
CBIZ Company Profile (NYSE:CBZ)
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, government health care consulting, financial advisory, valuation, litigation support, risk and advisory, real estate consulting, and internal audit outsourcing services.
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