CBIZ (CBZ) Lowered to “Sell” at Zacks Investment Research

CBIZ (NYSE:CBZ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

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, ValuEngine cut CBIZ from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.

Shares of CBIZ (NYSE:CBZ) traded up $0.10 during midday trading on Thursday, hitting $15.95. The company had a trading volume of 295,908 shares, compared to its average volume of 182,526. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.39. CBIZ has a 52 week low of $12.95 and a 52 week high of $17.25. The company has a market capitalization of $874.87, a PE ratio of 19.69 and a beta of 0.82.

In other CBIZ news, Director Steven L. Gerard sold 26,423 shares of CBIZ stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $15.03, for a total value of $397,137.69. Following the transaction, the director now owns 349,906 shares in the company, valued at $5,259,087.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven L. Gerard sold 33,731 shares of CBIZ stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $15.02, for a total value of $506,639.62. Following the completion of the transaction, the director now owns 349,363 shares in the company, valued at approximately $5,247,432.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,053 shares of company stock worth $1,575,512. Company insiders own 6.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. grew its position in CBIZ by 0.9% in the second quarter. Ameriprise Financial Inc. now owns 13,840 shares of the business services provider’s stock valued at $208,000 after acquiring an additional 130 shares during the last quarter. SG Americas Securities LLC bought a new position in CBIZ in the third quarter valued at about $228,000. Citadel Advisors LLC bought a new position in CBIZ in the fourth quarter valued at about $234,000. GSA Capital Partners LLP bought a new position in CBIZ in the second quarter valued at about $272,000. Finally, Teacher Retirement System of Texas bought a new position in CBIZ in the fourth quarter valued at about $280,000. Hedge funds and other institutional investors own 84.37% of the company’s stock.

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About CBIZ

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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