CBIZ, Inc. (CBZ) Raised to Hold at BidaskClub
CBIZ, Inc. (NYSE:CBZ) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
CBZ has been the topic of a number of other reports. Zacks Investment Research cut shares of CBIZ from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. ValuEngine raised shares of CBIZ from a “hold” rating to a “buy” rating in a report on Friday, June 2nd.
CBIZ (NYSE CBZ) opened at 14.85 on Tuesday. The company has a market capitalization of $806.76 million, a price-to-earnings ratio of 17.57 and a beta of 0.91. The stock has a 50 day moving average price of $14.98 and a 200-day moving average price of $14.49. CBIZ has a 1-year low of $10.73 and a 1-year high of $15.90.
CBIZ (NYSE:CBZ) last issued its earnings results on Thursday, August 3rd. The business services provider reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. The company had revenue of $211 million for the quarter, compared to analysts’ expectations of $207.42 million. CBIZ had a net margin of 5.54% and a return on equity of 9.42%. CBIZ’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 EPS. Equities analysts predict that CBIZ will post $0.87 earnings per share for the current year.
In other CBIZ news, insider Ware H. Grove sold 22,927 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $15.25, for a total value of $349,636.75. Following the transaction, the insider now directly owns 262,673 shares of the company’s stock, valued at approximately $4,005,763.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Donald V. Weir sold 10,000 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $15.22, for a total transaction of $152,200.00. Following the completion of the transaction, the director now directly owns 25,763 shares in the company, valued at $392,112.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,927 shares of company stock worth $999,417. Insiders own 7.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in CBIZ by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,571,940 shares of the business services provider’s stock valued at $68,580,000 after buying an additional 54,348 shares in the last quarter. First Manhattan Co. raised its position in shares of CBIZ by 4.2% in the first quarter. First Manhattan Co. now owns 2,884,455 shares of the business services provider’s stock worth $32,277,000 after buying an additional 115,000 shares during the last quarter. P2 Capital Partners LLC raised its position in shares of CBIZ by 67.6% in the first quarter. P2 Capital Partners LLC now owns 2,361,073 shares of the business services provider’s stock worth $31,993,000 after buying an additional 952,501 shares during the last quarter. Vanguard Group Inc. raised its position in shares of CBIZ by 4.9% in the second quarter. Vanguard Group Inc. now owns 2,302,818 shares of the business services provider’s stock worth $34,542,000 after buying an additional 108,000 shares during the last quarter. Finally, State Street Corp raised its position in shares of CBIZ by 6.0% in the second quarter. State Street Corp now owns 1,000,676 shares of the business services provider’s stock worth $15,016,000 after buying an additional 56,421 shares during the last quarter. 85.12% of the stock is currently owned by hedge funds and other institutional investors.
CBIZ Company Profile
CBIZ, Inc (CBIZ) is engaged in the professional services business. The Company operates its professional services business through acquiring and integrating accounting and financial service providers, group health benefits consulting firms, property and casualty brokerage firms, payroll service providers, and valuation and other service firms throughout the United States.
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