CBIZ, Inc. (CBZ) Posts Quarterly Earnings Results
CBIZ, Inc. (NYSE:CBZ) posted its quarterly earnings results on Thursday. The business services provider reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.04), Bloomberg Earnings reports. The company had revenue of $207.70 million for the quarter, compared to analyst estimates of $212.66 million. CBIZ had a return on equity of 9.06% and a net margin of 5.34%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $0.20 EPS.
CBIZ (CBZ) traded down $1.80 during mid-day trading on Friday, hitting $15.00. The company had a trading volume of 258,168 shares, compared to its average volume of 125,279. The firm has a market capitalization of $874.87 million, a price-to-earnings ratio of 19.45 and a beta of 0.85.
Several research firms have weighed in on CBZ. Zacks Investment Research lowered CBIZ from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. ValuEngine raised CBIZ from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, BidaskClub raised CBIZ from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th.
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In related news, insider Ware H. Grove sold 25,000 shares of the business’s stock in a transaction that occurred 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 directly owns 282,172 shares of the company’s stock, valued at approximately $4,249,510.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Spurio sold 16,250 shares of the business’s stock in a transaction that occurred 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 directly owns 191,293 shares in the company, valued at $2,903,827.74. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by insiders.
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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