CBIZ Inc. (CBZ) Downgraded to “Hold” at Zacks Investment Research
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.
CBIZ (NYSE:CBZ) opened at 11.05 on Tuesday. CBIZ has a 12-month low of $9.30 and a 12-month high of $11.82. The company has a 50-day moving average of $11.29 and a 200 day moving average of $10.69. The company has a market capitalization of $580.13 million, a P/E ratio of 15.56 and a beta of 0.69.
CBIZ (NYSE:CBZ) last posted its quarterly earnings data 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 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 previous year, the firm earned $0.13 EPS. The company’s revenue was up 6.5% on a year-over-year basis. Equities research analysts forecast that CBIZ will post $0.75 earnings per share for the current fiscal year.
In other CBIZ news, insider Chris Spurio sold 7,000 shares of CBIZ stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $11.60, for a total value of $81,200.00. Following the completion of the transaction, the insider now directly owns 186,140 shares of the company’s stock, valued at $2,159,224. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jerome P. Grisko sold 9,090 shares of CBIZ stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $11.08, for a total transaction of $100,717.20. Following the completion of the transaction, the chief executive officer now directly owns 519,074 shares of the company’s stock, valued at $5,751,339.92. The disclosure for this sale can be found here. 7.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Prudential Financial Inc. purchased a new position in shares of CBIZ during the second quarter valued at about $127,000. Ameriprise Financial Inc. boosted 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 period. BlackRock Inc. boosted 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 period. BlackRock Advisors LLC boosted 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 period. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of CBIZ during the second quarter valued at about $277,000. 84.62% of the stock is owned by institutional investors and hedge funds.
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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