CBIZ (NYSE:CBZ) Sets New 12-Month Low – Should You Sell?

CBIZ, Inc. (NYSE:CBZ) reached a new 52-week low during trading on Monday . The stock traded as low as $27.06 and last traded at $27.7950, with a volume of 195604 shares trading hands. The stock had previously closed at $29.15.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CBZ. CJS Securities raised shares of CBIZ to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of CBIZ in a report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft began coverage on CBIZ in a research report on Monday, January 12th. They set a “hold” rating and a $60.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.00.

CBIZ Stock Down 5.0%

The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.80. The company has a market cap of $1.51 billion, a P/E ratio of 18.22 and a beta of 0.92. The business’s 50 day moving average is $44.47 and its 200 day moving average is $51.64.

Insider Buying and Selling

In related news, Director Benaree Pratt Wiley sold 8,288 shares of the business’s stock in a transaction 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 directly owned 35,956 shares in the company, valued at $1,781,260.24. The trade was a 18.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brad S. Lakhia purchased 2,060 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was acquired at an average price of $48.51 per share, with a total value of $99,930.60. Following the completion of the purchase, the chief financial officer owned 40,584 shares of the company’s stock, valued at $1,968,729.84. The trade was a 5.35% increase in their position. The disclosure for this purchase is available in the SEC filing. 4.95% of the stock is owned by insiders.

Hedge Funds Weigh In On CBIZ

A number of institutional investors have recently bought and sold shares of the business. WCM Investment Management LLC acquired a new position in CBIZ in the 3rd quarter worth about $15,011,000. Y Intercept Hong Kong Ltd acquired a new stake in CBIZ in the third quarter valued at approximately $3,895,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of CBIZ in the third quarter valued at approximately $1,205,000. Norges Bank acquired a new position in shares of CBIZ during the 2nd quarter worth approximately $1,842,000. Finally, Bank of New York Mellon Corp raised its stake in shares of CBIZ by 9.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 163,157 shares of the business services provider’s stock worth $11,700,000 after buying an additional 13,599 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

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.