CBIZ (CBZ) Releases Earnings Results, Beats Estimates By $0.03 EPS

CBIZ (NYSE:CBZ) issued its earnings results on Thursday. The business services provider reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.03, Bloomberg Earnings reports. CBIZ had a return on equity of 8.94% and a net margin of 5.34%. The business had revenue of $195.00 million during the quarter, compared to analysts’ expectations of $191.40 million. During the same period in the prior year, the firm posted ($0.01) EPS. CBIZ’s quarterly revenue was up 9.1% compared to the same quarter last year.

CBIZ (CBZ) traded up $2.00 during mid-day trading on Thursday, reaching $18.25. The company had a trading volume of 73,594 shares, compared to its average volume of 208,001. CBIZ has a 12-month low of $13.00 and a 12-month high of $18.33. The firm has a market cap of $883.10, a PE ratio of 22.41 and a beta of 0.82. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.54 and a quick ratio of 1.54.

CBIZ announced that its board has authorized a share buyback plan on Wednesday, February 14th that allows the company to buyback 5,000,000 shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

In related news, insider Michael P. Kouzelos sold 35,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $14.95, for a total transaction of $523,250.00. Following the completion of the sale, the insider now directly owns 287,972 shares of the company’s stock, valued at approximately $4,305,181.40. 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 33,731 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $15.02, for a total value of $506,639.62. Following the sale, the director now directly owns 349,363 shares of the company’s stock, valued at $5,247,432.26. The disclosure for this sale can be found here. Insiders have sold a total of 105,053 shares of company stock valued at $1,575,512 over the last ninety days. Insiders own 6.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Koch Industries Inc. acquired a new stake in CBIZ during the 4th quarter valued at $158,000. Gotham Asset Management LLC bought a new position in CBIZ in the 4th quarter valued at $161,000. Ladenburg Thalmann Financial Services Inc. boosted its position in CBIZ by 2,874.3% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,529 shares of the business services provider’s stock valued at $162,000 after buying an additional 10,175 shares during the last quarter. Ameriprise Financial Inc. boosted its position in CBIZ by 0.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,840 shares of the business services provider’s stock valued at $208,000 after buying an additional 130 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in CBIZ in the 3rd quarter valued at $228,000. 84.03% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on CBZ shares. ValuEngine cut CBIZ from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research cut CBIZ from a “hold” rating to a “sell” rating in a report on Monday, November 6th.

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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.

Earnings History for CBIZ (NYSE:CBZ)

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