CBIZ, Inc. (CBZ) Downgraded by Zacks Investment Research to Hold
CBIZ, Inc. (NYSE:CBZ) was downgraded by Zacks Investment Research from a “strong-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. “
A number of other research analysts also recently weighed in on CBZ. ValuEngine raised shares of CBIZ from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub upgraded shares of CBIZ from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th.
CBIZ (CBZ) traded down 1.20% during mid-day trading on Tuesday, reaching $16.45. The company had a trading volume of 208,601 shares. The stock has a market capitalization of $893.68 million, a PE ratio of 19.47 and a beta of 0.90. CBIZ has a one year low of $10.73 and a one year high of $16.70. The company’s 50-day moving average is $15.21 and its 200-day moving average is $14.94.
CBIZ (NYSE:CBZ) last posted its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The business had revenue of $211.00 million during the quarter, compared to the consensus estimate of $207.42 million. CBIZ had a net margin of 5.54% and a return on equity of 9.42%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 earnings per share. Equities research analysts anticipate that CBIZ will post $0.87 earnings per share for the current year.
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In other news, insider Ware H. Grove sold 25,000 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $15.06, for a total transaction of $376,500.00. Following the transaction, the insider now owns 282,172 shares of the company’s stock, valued at approximately $4,249,510.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Spurio sold 16,250 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $15.18, for a total value of $246,675.00. Following the transaction, the insider now owns 191,293 shares of the company’s stock, valued at approximately $2,903,827.74. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CBZ. P2 Capital Partners LLC grew its stake in CBIZ by 67.6% in the 1st quarter. P2 Capital Partners LLC now owns 2,361,073 shares of the business services provider’s stock valued at $31,993,000 after buying an additional 952,501 shares in the last quarter. Granite Investment Partners LLC bought a new position in CBIZ in the 2nd quarter worth about $10,331,000. ClariVest Asset Management LLC boosted its stake in CBIZ by 80.7% in the 2nd quarter. ClariVest Asset Management LLC now owns 589,575 shares of the business services provider’s stock worth $8,844,000 after purchasing an additional 263,312 shares during the period. Thrivent Financial For Lutherans bought a new position in CBIZ in the 2nd quarter worth about $2,745,000. Finally, Northern Trust Corp boosted its stake in CBIZ by 22.2% in the 2nd quarter. Northern Trust Corp now owns 984,960 shares of the business services provider’s stock worth $14,775,000 after purchasing an additional 179,219 shares during the period. 85.55% of the stock is owned by institutional investors.
CBIZ Company Profile
CBIZ, Inc (CBIZ) is engaged in the professional services business. The Company operates its professional services business through acquiring and integrating accounting and financial service providers, group health benefits consulting firms, property and casualty brokerage firms, payroll service providers, and valuation and other service firms throughout the United States.
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