CBIZ Inc. (CBZ) Stock Rating Upgraded by Zacks Investment Research
CBIZ Inc. (NYSE:CBZ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $12.00 price objective on the stock. Zacks Investment Research’s price target points to a potential upside of 7.62% from the company’s previous close.
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 on the stock.
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CBIZ (NYSE:CBZ) traded up 0.36% during midday trading on Wednesday, reaching $11.15. 68,103 shares of the company traded hands. CBIZ has a one year low of $9.30 and a one year high of $11.82. The stock has a market capitalization of $585.37 million, a P/E ratio of 15.70 and a beta of 0.67. The company has a 50 day moving average price of $11.30 and a 200-day moving average price of $10.61.
CBIZ (NYSE:CBZ) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The company earned $197 million during the quarter, compared to analysts’ expectations of $198.70 million. CBIZ had a return on equity of 11.75% and a net margin of 4.94%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.13 EPS. Analysts forecast that CBIZ will post $0.75 EPS for the current fiscal year.
In other CBIZ news, insider Chris Spurio sold 7,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,159,224. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven L. Gerard sold 22,159 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $11.70, for a total transaction of $259,260.30. Following the transaction, the director now directly owns 315,700 shares in the company, valued at approximately $3,693,690. The disclosure for this sale can be found here. Company insiders own 7.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of CBZ. Emerald Acquisition Ltd. acquired a new position in CBIZ during the second quarter worth approximately $3,169,000. Swiss National Bank increased its position in CBIZ by 6.3% in the second quarter. Swiss National Bank now owns 81,100 shares of the company’s stock worth $844,000 after buying an additional 4,800 shares during the period. First Manhattan Co. increased its position in CBIZ by 1.8% in the second quarter. First Manhattan Co. now owns 2,894,930 shares of the company’s stock worth $30,136,000 after buying an additional 52,029 shares during the period. Dalton Greiner Hartman Maher & Co. increased its position in CBIZ by 43.8% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 210,345 shares of the company’s stock worth $2,190,000 after buying an additional 64,056 shares during the period. Finally, Royal Bank of Canada increased its position in CBIZ by 7.2% in the first quarter. Royal Bank of Canada now owns 62,977 shares of the company’s stock worth $635,000 after buying an additional 4,209 shares during the period. 84.62% of the stock is currently owned by institutional investors and hedge funds.
CBIZ Company Profile
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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