Basswood Capital Management L.L.C. Purchases New Position in CBIZ, Inc. $CBZ

Basswood Capital Management L.L.C. purchased a new position in CBIZ, Inc. (NYSE:CBZ) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 451,259 shares of the business services provider’s stock, valued at approximately $14,476,000. Basswood Capital Management L.L.C. owned approximately 0.83% of CBIZ at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. bought a new stake in CBIZ during the 2nd quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of CBIZ by 377.8% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 559 shares of the business services provider’s stock worth $30,000 after acquiring an additional 442 shares during the period. Strategic Wealth Investment Group LLC bought a new position in shares of CBIZ in the 2nd quarter worth approximately $37,000. EverSource Wealth Advisors LLC raised its position in shares of CBIZ by 667.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,512 shares of the business services provider’s stock worth $41,000 after acquiring an additional 1,315 shares in the last quarter. Finally, Danske Bank A S purchased a new position in shares of CBIZ in the 3rd quarter valued at approximately $42,000. 87.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Stephens set a $37.00 price target on CBIZ in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $42.00 price objective on shares of CBIZ in a report on Thursday, April 30th. US Capital Advisors set a $55.00 price objective on CBIZ in a research report on Thursday, July 30th. CJS Securities cut shares of CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 target price on the stock. in a report on Thursday, July 30th. Finally, Weiss Ratings raised shares of CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $44.50.

CBIZ Price Performance

CBZ stock opened at $54.77 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a 50 day moving average price of $44.43 and a 200-day moving average price of $35.01. CBIZ, Inc. has a 52-week low of $24.29 and a 52-week high of $66.22. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 1.15 and a beta of 0.93.

CBIZ (NYSE:CBZ) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.19. CBIZ had a return on equity of 12.33% and a net margin of 4.73%.The company had revenue of $682.21 million for the quarter, compared to the consensus estimate of $697.96 million. During the same quarter in the prior year, the business posted $0.95 EPS. The firm’s quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts forecast that CBIZ, Inc. will post 4.1 EPS for the current fiscal year.

CBIZ 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.