Summit Creek Advisors LLC Buys New Position in CBIZ, Inc. $CBZ

Summit Creek Advisors LLC bought a new stake in shares of CBIZ, Inc. (NYSE:CBZ) in the second quarter, HoldingsChannel reports. The institutional investor bought 123,551 shares of the business services provider’s stock, valued at approximately $3,964,000.

Several other institutional investors have also added to or reduced their stakes in CBZ. Citizens Financial Group Inc. RI bought a new stake in shares of CBIZ during the 2nd quarter valued at $639,000. BlackRock Inc. bought a new position in CBIZ in the 2nd quarter worth $159,495,000. Deutsche Bank AG bought a new position in CBIZ in the 2nd quarter worth $1,851,000. Trust Co. of Vermont bought a new position in CBIZ in the 2nd quarter worth $53,000. Finally, Dodds Wealth LLC purchased a new position in CBIZ during the second quarter valued at $434,000. 87.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

CBIZ Stock Up 0.2%

NYSE CBZ opened at $54.80 on Wednesday. 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 company has a market capitalization of $2.97 billion, a P/E ratio of 25.61, a P/E/G ratio of 1.14 and a beta of 0.92. CBIZ, Inc. has a one year low of $24.29 and a one year high of $67.24. The stock has a 50 day moving average price of $41.94 and a 200-day moving average price of $34.32.

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

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.