CBIZ Inc. (CBZ) Downgraded by Zacks Investment Research to Hold
According to Zacks, “CBIZ, Inc. provides professional business services that help clients better manage their finances and employees. CBIZ provides its clients with financial services including accounting, tax, financial advisory, government health care consulting, risk advisory, merger and acquisition advisory, real estate consulting, and valuation services. Employee services include employee benefits consulting, property and casualty insurance, retirement plan consulting, payroll, life insurance, HR consulting, and executive recruitment. As one of the nation’s largest brokers of employee benefits and property and casualty insurance, and one of the largest accounting and valuation companies in the United States, the Company’s services are provided through nearly 100 Company offices in 32 states. “
Separately, Sidoti assumed coverage on CBIZ in a report on Tuesday, July 19th. They set a buy rating for the company.
Shares of CBIZ (NYSE:CBZ) opened at 11.21 on Tuesday. The firm has a market cap of $588.53 million, a P/E ratio of 15.79 and a beta of 0.69. The firm’s 50-day moving average is $11.31 and its 200-day moving average is $10.67. CBIZ has a 52-week low of $9.30 and a 52-week high of $11.82.
CBIZ (NYSE:CBZ) last posted its earnings results on Tuesday, August 2nd. The company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.01. The company had revenue of $197 million for the quarter, compared to analysts’ expectations of $198.70 million. CBIZ had a net margin of 4.94% and a return on equity of 11.75%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 EPS. Analysts anticipate that CBIZ will post $0.75 earnings per share for the current year.
In related news, Director Steven L. Gerard sold 46,216 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $11.35, for a total value of $524,551.60. Following the completion of the sale, the director now owns 385,756 shares in the company, valued at approximately $4,378,330.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Spurio sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $11.60, for a total value of $81,200.00. Following the completion of the sale, the insider now owns 186,140 shares of the company’s stock, valued at approximately $2,159,224. The disclosure for this sale can be found here. Insiders own 7.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. purchased a new stake in CBIZ during the second quarter worth $127,000. Ameriprise Financial Inc. increased its stake in CBIZ by 8.4% in the second quarter. Ameriprise Financial Inc. now owns 13,490 shares of the company’s stock worth $140,000 after buying an additional 1,040 shares during the last quarter. BlackRock Inc. increased its stake in CBIZ by 328.6% in the second quarter. BlackRock Inc. now owns 14,517 shares of the company’s stock worth $151,000 after buying an additional 11,130 shares during the last quarter. BlackRock Advisors LLC increased its stake in CBIZ by 7.2% in the second quarter. BlackRock Advisors LLC now owns 24,920 shares of the company’s stock worth $259,000 after buying an additional 1,682 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in CBIZ during the second quarter worth $277,000. Institutional investors own 84.62% of the company’s stock.
CBIZ Company Profile
CBIZ, Inc is engaged in providing professional business services, products and solutions to businesses, as well as individuals, governmental entities and not-for-profit enterprises, throughout the United States and parts of Canada. The Company’s business units are aggregated into three practice groups: Financial Services, National Practices and Employee Services.
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