Deutsche Bank AG Purchases New Stake in CBIZ, Inc. $CBZ

Deutsche Bank AG acquired a new position in CBIZ, Inc. (NYSE:CBZ) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 57,708 shares of the business services provider’s stock, valued at approximately $1,851,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Wealth Investment Group LLC acquired a new position in CBIZ during the 2nd quarter valued at about $37,000. Caitong International Asset Management Co. Ltd grew its position in shares of CBIZ by 377.8% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 559 shares of the business services provider’s stock worth $30,000 after buying an additional 442 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of CBIZ by 165.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 722 shares of the business services provider’s stock worth $52,000 after buying an additional 450 shares during the period. Danske Bank A S bought a new stake in shares of CBIZ during the third quarter worth approximately $42,000. Finally, Torren Management LLC acquired a new position in CBIZ in the fourth quarter valued at approximately $48,000. 87.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. US Capital Advisors set a $55.00 price objective on shares of CBIZ in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. CJS Securities downgraded CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 price target on the stock. in a research note on Thursday, July 30th. Barrington Research began coverage on CBIZ in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $45.00 price target on the stock. Finally, Stephens set a $37.00 price objective on CBIZ in a research note on Friday, May 1st. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $44.50.

CBIZ Stock Performance

Shares of NYSE:CBZ opened at $54.54 on Friday. The firm’s 50 day simple moving average is $45.37 and its 200 day simple moving average is $35.26. CBIZ, Inc. has a fifty-two week low of $24.29 and a fifty-two week high of $64.90. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 1.15 and a beta of 0.93. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.47.

CBIZ (NYSE:CBZ) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.19. CBIZ had a net margin of 4.73% and a return on equity of 12.33%. The firm had revenue of $682.21 million during the quarter, compared to analysts’ expectations of $697.96 million. During the same quarter in the previous year, the company earned $0.95 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. As a group, sell-side analysts forecast that CBIZ, Inc. will post 4.1 earnings per share for the current year.

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.