CBIZ Inc. (CBZ) Rating Lowered to Hold at Zacks Investment Research
CBIZ Inc. (NYSE:CBZ) was downgraded by Zacks Investment Research from a “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. “
Separately, Sidoti assumed coverage on CBIZ in a research report on Tuesday, July 19th. They set a “buy” rating on the stock.
CBIZ (NYSE:CBZ) opened at 11.15 on Tuesday. The company’s 50-day moving average price is $11.30 and its 200 day moving average price is $10.61. CBIZ has a 52-week low of $9.30 and a 52-week high of $11.82. The firm has a market capitalization of $585.37 million, a price-to-earnings ratio of 15.70 and a beta of 0.67.
CBIZ (NYSE:CBZ) last announced its earnings results on Tuesday, August 2nd. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by $0.01. CBIZ had a net margin of 4.94% and a return on equity of 11.75%. The company had revenue of $197 million for the quarter, compared to analysts’ expectations of $198.70 million. During the same period in the prior year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts predict that CBIZ will post $0.75 earnings per share for the current year.
In related news, Director Steven L. Gerard sold 28,784 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $11.42, for a total transaction of $328,713.28. Following the transaction, the director now directly owns 385,756 shares of the company’s stock, valued at $4,405,333.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jerome P. Grisko sold 9,090 shares of the company’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $11.08, for a total value of $100,717.20. Following the transaction, the chief executive officer now directly owns 519,074 shares in the company, valued at $5,751,339.92. The disclosure for this sale can be found here. Corporate insiders own 7.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. purchased a new position in shares of CBIZ during the second quarter valued at $127,000. Ameriprise Financial Inc. raised its position in shares of CBIZ by 8.4% in the second quarter. Ameriprise Financial Inc. now owns 13,490 shares of the company’s stock valued at $140,000 after buying an additional 1,040 shares during the last quarter. BlackRock Inc. raised its position in shares of CBIZ by 328.6% in the second quarter. BlackRock Inc. now owns 14,517 shares of the company’s stock valued at $151,000 after buying an additional 11,130 shares during the last quarter. BlackRock Group LTD raised its position in shares of CBIZ by 308.2% in the first quarter. BlackRock Group LTD now owns 16,253 shares of the company’s stock valued at $164,000 after buying an additional 12,271 shares during the last quarter. Finally, BlackRock Advisors LLC raised its position in shares of CBIZ by 7.2% in the second quarter. BlackRock Advisors LLC now owns 24,920 shares of the company’s stock valued at $259,000 after buying an additional 1,682 shares during the last quarter. 84.62% of the stock is currently owned by hedge funds and other institutional investors.
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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