CBIZ (NYSE:CBZ) Reaches New 52-Week Low – Here’s What Happened

Shares of CBIZ, Inc. (NYSE:CBZ) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $33.60 and last traded at $34.2570, with a volume of 1790747 shares changing hands. The stock had previously closed at $38.27.

Wall Street Analysts Forecast Growth

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

CBIZ Trading Down 8.0%

The firm has a market cap of $1.53 billion, a P/E ratio of 18.45 and a beta of 0.92. The company’s 50 day moving average is $47.28 and its two-hundred day moving average is $53.47. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.57 and a quick ratio of 1.57.

Insiders Place Their Bets

In related news, CFO Brad S. Lakhia bought 2,060 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was acquired at an average price of $48.51 per share, for a total transaction of $99,930.60. Following the transaction, the chief financial officer directly owned 40,584 shares of the company’s stock, valued at $1,968,729.84. This represents a 5.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Benaree Pratt Wiley sold 8,288 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $49.54, for a total value of $410,587.52. Following the completion of the sale, the director directly owned 35,956 shares in the company, valued at approximately $1,781,260.24. This represents a 18.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CBZ. Laurel Oak Wealth Management LLC acquired a new position in shares of CBIZ during the fourth quarter worth approximately $213,000. Helium Advisors LLC boosted its holdings in CBIZ by 68.2% in the fourth quarter. Helium Advisors LLC now owns 14,800 shares of the business services provider’s stock valued at $747,000 after acquiring an additional 6,000 shares during the last quarter. Commonwealth Equity Services LLC increased its position in CBIZ by 3.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 18,965 shares of the business services provider’s stock worth $957,000 after purchasing an additional 589 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in CBIZ during the 4th quarter valued at about $2,173,000. Finally, Waters Parkerson & CO. LLC grew its position in shares of CBIZ by 5.5% during the 4th quarter. Waters Parkerson & CO. LLC now owns 437,246 shares of the business services provider’s stock worth $22,059,000 after buying an additional 22,768 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

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.