CBIZ Inc. (NYSE:CBZ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note 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 started coverage on shares of CBIZ in a report on Tuesday, July 19th. They set a “buy” rating on the stock.

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CBIZ (NYSE:CBZ) traded up 0.82% during trading on Tuesday, reaching $11.11. The company had a trading volume of 95,328 shares. CBIZ has a 12-month low of $9.30 and a 12-month high of $11.82. The firm has a 50-day moving average price of $11.28 and a 200 day moving average price of $10.60. The stock has a market cap of $583.28 million, a P/E ratio of 15.65 and a beta of 0.67.

CBIZ (NYSE:CBZ) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by $0.01. CBIZ had a net margin of 4.94% and a return on equity of 11.75%. The company had revenue of $197 million for the quarter, compared to analysts’ expectations of $198.70 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. Equities research analysts predict 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 business’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $11.08, for a total transaction of $100,717.20. Following the transaction, the chief executive officer now directly 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 available at this hyperlink. Also, insider Chris Spurio sold 7,000 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $11.60, for a total transaction of $81,200.00. Following the transaction, the insider now owns 186,140 shares in the company, valued at $2,159,224. The disclosure for this sale can be found here. Insiders own 7.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of CBZ. Burgundy Asset Management Ltd. boosted its position in CBIZ by 12.4% in the second quarter. Burgundy Asset Management Ltd. now owns 5,412,122 shares of the company’s stock valued at $56,340,000 after buying an additional 598,791 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of CBIZ during the second quarter worth about $3,169,000. First Manhattan Co. boosted its stake in shares of CBIZ by 11.4% in the first quarter. First Manhattan Co. now owns 2,842,901 shares of the company’s stock worth $28,684,000 after buying an additional 291,070 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of CBIZ by 69.9% in the first quarter. TIAA CREF Investment Management LLC now owns 375,584 shares of the company’s stock worth $3,790,000 after buying an additional 154,562 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of CBIZ by 278.2% in the first quarter. Barclays PLC now owns 207,670 shares of the company’s stock worth $2,076,000 after buying an additional 152,754 shares in the last quarter. Institutional investors and hedge funds own 85.46% of the company’s stock.

About CBIZ

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.

5 Day Chart for NYSE:CBZ

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