Zacks Investment Research Upgrades CBIZ Inc. (CBZ) to “Buy”
CBIZ Inc. (NYSE:CBZ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $12.00 price objective on the stock. Zacks Investment Research’s target price would suggest a potential upside of 5.17% from the stock’s current price.
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 initiated coverage on shares of CBIZ in a research note on Tuesday, July 19th. They set a “buy” rating on the stock.
Shares of CBIZ (NYSE:CBZ) opened at 11.41 on Wednesday. The company has a market capitalization of $599.02 million, a P/E ratio of 16.07 and a beta of 0.67. The company’s 50 day moving average is $11.31 and its 200-day moving average is $10.61. CBIZ has a 1-year low of $9.30 and a 1-year high of $11.82.
CBIZ (NYSE:CBZ) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by $0.01. CBIZ had a return on equity of 11.75% and a net margin of 4.94%. The business had revenue of $197 million for the quarter, compared to the consensus estimate of $198.70 million. During the same period in the prior year, the business posted $0.13 earnings per share. CBIZ’s revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts forecast that CBIZ will post $0.75 EPS for the current year.
In other news, CEO Jerome P. Grisko sold 9,090 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 519,074 shares in the company, valued at approximately $5,751,339.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chris Spurio sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $11.60, for a total transaction of $81,200.00. Following the completion of the sale, the insider now owns 186,140 shares in the company, valued at $2,159,224. The disclosure for this sale can be found here. Company insiders own 7.20% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Emerald Acquisition Ltd. bought a new stake in CBIZ during the second quarter worth $3,169,000. Swiss National Bank increased its stake in CBIZ by 6.3% in the second quarter. Swiss National Bank now owns 81,100 shares of the company’s stock worth $844,000 after buying an additional 4,800 shares during the last quarter. First Manhattan Co. increased its stake in CBIZ by 1.8% in the second quarter. First Manhattan Co. now owns 2,894,930 shares of the company’s stock worth $30,136,000 after buying an additional 52,029 shares during the last quarter. Dalton Greiner Hartman Maher & Co. increased its stake in CBIZ by 43.8% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 210,345 shares of the company’s stock worth $2,190,000 after buying an additional 64,056 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in CBIZ by 7.2% in the first quarter. Royal Bank of Canada now owns 62,977 shares of the company’s stock worth $635,000 after buying an additional 4,209 shares during the last quarter. Institutional investors own 84.62% of the company’s stock.
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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