Short Interest in CBIZ, Inc. (NYSE:CBZ) Grows By 9.7%

CBIZ, Inc. (NYSE:CBZ) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 788,000 shares, a growth of 9.7% from the February 29th total of 718,100 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily volume of 307,100 shares, the days-to-cover ratio is presently 2.6 days.

CBIZ Price Performance

Shares of CBIZ stock traded down $0.26 on Wednesday, hitting $76.24. The company’s stock had a trading volume of 74,865 shares, compared to its average volume of 313,119. The company has a market capitalization of $3.82 billion, a P/E ratio of 32.14 and a beta of 0.83. CBIZ has a 52-week low of $48.10 and a 52-week high of $79.55. The firm has a fifty day moving average price of $72.19 and a 200-day moving average price of $62.52. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.39.

CBIZ (NYSE:CBZ) last announced its earnings results on Thursday, February 15th. The business services provider reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. The company had revenue of $327.50 million during the quarter, compared to analysts’ expectations of $308.87 million. CBIZ had a net margin of 7.60% and a return on equity of 15.49%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.21) earnings per share. On average, equities research analysts expect that CBIZ will post 2.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CBIZ

Institutional investors and hedge funds have recently bought and sold shares of the stock. KBC Group NV acquired a new position in shares of CBIZ in the fourth quarter worth $34,000. Comerica Bank purchased a new position in CBIZ in the 3rd quarter valued at about $41,000. Fortis Group Advisors LLC acquired a new stake in shares of CBIZ during the 3rd quarter worth about $45,000. West Tower Group LLC purchased a new stake in shares of CBIZ during the second quarter worth about $47,000. Finally, Assetmark Inc. grew its holdings in shares of CBIZ by 24.8% during the fourth quarter. Assetmark Inc. now owns 905 shares of the business services provider’s stock worth $57,000 after buying an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

Separately, Sidoti downgraded CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 price objective for the company. in a research note on Tuesday, January 2nd.

CBIZ Company Profile

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through Financial Services, Benefits and Insurance Services, and National Practices segments. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.