CBIZ Inc. (CBZ) Lowered to “Hold” at Zacks Investment Research
CBIZ Inc. (NYSE:CBZ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
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. “
Separately, Sidoti assumed coverage on shares of CBIZ in a research note on Tuesday, July 19th. They issued a “buy” rating for the company.
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CBIZ (NYSE:CBZ) traded up 0.82% during trading on Tuesday, reaching $11.11. 95,328 shares of the company’s stock were exchanged. The firm has a market cap of $583.28 million, a P/E ratio of 15.65 and a beta of 0.67. The stock’s 50 day moving average price is $11.28 and its 200 day moving average price is $10.60. CBIZ has a 52-week low of $9.30 and a 52-week high of $11.82.
CBIZ (NYSE:CBZ) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by $0.01. The firm earned $197 million during the quarter, compared to analyst estimates of $198.70 million. CBIZ had a net margin of 4.94% and a return on equity of 11.75%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 EPS. Equities research analysts anticipate that CBIZ will post $0.75 EPS for the current fiscal year.
In other news, CEO Jerome P. Grisko sold 9,090 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $11.08, for a total transaction of $100,717.20. Following the completion of the sale, the chief executive officer now owns 519,074 shares in the company, valued at approximately $5,751,339.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven L. Gerard sold 28,784 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $11.42, for a total transaction of $328,713.28. Following the sale, the director now owns 385,756 shares of the company’s stock, valued at approximately $4,405,333.52. The disclosure for this sale can be found here. Insiders own 7.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. bought a new stake in CBIZ during the second quarter worth about $127,000. Ameriprise Financial Inc. boosted its stake in CBIZ by 8.4% in the second quarter. Ameriprise Financial Inc. now owns 13,490 shares of the company’s stock worth $140,000 after buying an additional 1,040 shares in the last quarter. BlackRock Inc. boosted its stake in CBIZ by 328.6% in the second quarter. BlackRock Inc. now owns 14,517 shares of the company’s stock worth $151,000 after buying an additional 11,130 shares in the last quarter. BlackRock Group LTD boosted its stake in CBIZ by 308.2% in the first quarter. BlackRock Group LTD now owns 16,253 shares of the company’s stock worth $164,000 after buying an additional 12,271 shares in the last quarter. Finally, BlackRock Advisors LLC boosted its stake in CBIZ by 7.2% in the second quarter. BlackRock Advisors LLC now owns 24,920 shares of the company’s stock worth $259,000 after buying an additional 1,682 shares in the last quarter. Institutional investors own 85.46% of the company’s stock.
CBIZ, Inc is engaged in providing professional business services, products and solutions to businesses, as well as individuals, governmental entities and not-for-profit enterprises, throughout the United States and parts of Canada. The Company’s business units are aggregated into three practice groups: Financial Services, National Practices and Employee Services.
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