CBIZ (NYSE:CBZ) Sets New 52-Week Low – Should You Sell?

CBIZ, Inc. (NYSE:CBZ) shares reached a new 52-week low on Monday . The stock traded as low as $40.37 and last traded at $40.6950, with a volume of 13143 shares. The stock had previously closed at $40.93.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (d+)” rating on shares of CBIZ in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CBIZ in a report on Monday, January 12th. They issued a “hold” rating and a $60.00 price objective for the company. Finally, CJS Securities upgraded CBIZ to a “strong-buy” rating in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, CBIZ has an average rating of “Moderate Buy” and a consensus target price of $60.00.

CBIZ Trading Down 3.0%

The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market capitalization of $2.10 billion, a P/E ratio of 25.34 and a beta of 0.93. The firm has a 50 day moving average price of $50.61 and a two-hundred day moving average price of $56.41.

CBIZ (NYSE:CBZ) last announced its earnings results on Wednesday, October 29th. The business services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.94 by $0.07. The business had revenue of $693.82 million during the quarter, compared to the consensus estimate of $709.18 million. CBIZ had a return on equity of 14.00% and a net margin of 3.89%.CBIZ’s revenue was up 58.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.93 earnings per share. On average, equities research analysts expect that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Insider Activity at CBIZ

In other news, CFO Brad S. Lakhia purchased 2,060 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were acquired at an average price of $48.51 per share, for a total transaction of $99,930.60. Following the completion of the acquisition, the chief financial officer directly owned 40,584 shares of the company’s stock, valued at $1,968,729.84. The trade was a 5.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Benaree Pratt Wiley sold 8,288 shares of CBIZ stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $49.54, for a total transaction of $410,587.52. Following the transaction, the director owned 35,956 shares in the company, valued at approximately $1,781,260.24. The trade was a 18.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 4.95% of the company’s stock.

Institutional Investors Weigh In On CBIZ

Several institutional investors have recently made changes to their positions in the company. Durable Capital Partners LP acquired a new position in CBIZ in the third quarter worth approximately $207,872,000. Burgundy Asset Management Ltd. increased its stake in shares of CBIZ by 4.5% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,321,198 shares of the business services provider’s stock worth $166,453,000 after purchasing an additional 100,932 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of CBIZ by 8.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,224,142 shares of the business services provider’s stock valued at $87,794,000 after purchasing an additional 96,505 shares during the last quarter. State Street Corp boosted its holdings in CBIZ by 4.6% in the second quarter. State Street Corp now owns 1,210,801 shares of the business services provider’s stock worth $86,827,000 after purchasing an additional 53,099 shares in the last quarter. Finally, BloombergSen Inc. increased its position in CBIZ by 9.5% during the second quarter. BloombergSen Inc. now owns 1,119,362 shares of the business services provider’s stock worth $80,269,000 after buying an additional 96,982 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

CBIZ Company Profile

CBIZ, Inc (NYSE: CBZ), founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.

Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.