CBIZ (NYSE:CBZ) Shares Up 4.6% – Here’s What Happened

CBIZ, Inc. (NYSE:CBZ)’s stock price was up 4.6% on Monday . The stock traded as high as $39.49 and last traded at $39.51. Approximately 33,555 shares changed hands during trading, a decline of 97% from the average session volume of 1,036,204 shares. The stock had previously closed at $37.79.

Analysts Set New Price Targets

A number of brokerages have commented on CBZ. Zacks Research upgraded CBIZ from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Barrington Research began coverage on shares of CBIZ in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $45.00 price target for the company. BMO Capital Markets assumed coverage on shares of CBIZ in a report on Monday, March 30th. They set an “outperform” rating and a $33.00 price target for the company. Weiss Ratings raised shares of CBIZ from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $42.00 price objective on shares of CBIZ in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.25.

CBIZ Price Performance

The company has a market capitalization of $2.20 billion, a PE ratio of 16.45, a P/E/G ratio of 0.85 and a beta of 0.99. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a 50 day moving average price of $32.90 and a two-hundred day moving average price of $34.25.

CBIZ (NYSE:CBZ) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.22. The firm had revenue of $848.58 million for the quarter, compared to the consensus estimate of $853.46 million. CBIZ had a return on equity of 12.62% and a net margin of 5.57%.The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.33 earnings per share. CBIZ has set its FY 2026 guidance at 4.000-4.100 EPS. Equities analysts forecast that CBIZ, Inc. will post 4.07 earnings per share for the current year.

Institutional Investors Weigh In On CBIZ

Several institutional investors and hedge funds have recently made changes to their positions in CBZ. Balyasny Asset Management L.P. increased its position in CBIZ by 4.9% during the second quarter. Balyasny Asset Management L.P. now owns 4,969 shares of the business services provider’s stock worth $356,000 after acquiring an additional 230 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in CBIZ by 0.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,529 shares of the business services provider’s stock valued at $2,117,000 after purchasing an additional 235 shares during the period. Chatham Capital Group Inc. grew its position in shares of CBIZ by 0.5% during the 4th quarter. Chatham Capital Group Inc. now owns 50,877 shares of the business services provider’s stock worth $2,567,000 after purchasing an additional 250 shares in the last quarter. Corient Private Wealth LLC grew its position in shares of CBIZ by 4.4% during the 2nd quarter. Corient Private Wealth LLC now owns 9,747 shares of the business services provider’s stock worth $694,000 after purchasing an additional 408 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of CBIZ by 10.5% during the first quarter. PNC Financial Services Group Inc. now owns 4,540 shares of the business services provider’s stock worth $122,000 after purchasing an additional 430 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

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.