CBIZ, Inc. (NYSE:CBZ) Stock Has Average Price Target of $44.50

Shares of CBIZ, Inc. (NYSE:CBZ) have received an average recommendation of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $44.50.

Several research analysts recently weighed in on the company. Barrington Research lowered CBIZ from an “outperform” rating to a “hold” rating in a research report on Wednesday, September 16th. Weiss Ratings upgraded CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. US Capital Advisors set a $55.00 price target on CBIZ in a research note on Thursday, July 30th. CJS Securities lowered CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 price target on the stock. in a research note on Thursday, July 30th. Finally, William Blair cut CBIZ from an “outperform” rating to a “market perform” rating in a report on Wednesday.

CBIZ Price Performance

Shares of CBZ stock opened at $54.70 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.47. The firm’s 50-day moving average is $52.98 and its two-hundred day moving average is $38.80. CBIZ has a 12 month low of $24.29 and a 12 month high of $56.93. The company has a market capitalization of $2.97 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 1.31 and a beta of 0.92.

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, beating the consensus estimate of $0.72 by $0.19. The business had revenue of $682.21 million during the quarter, compared to analysts’ expectations of $697.96 million. CBIZ had a net margin of 4.73% and a return on equity of 12.33%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 EPS. Analysts predict that CBIZ will post 4.17 earnings per share for the current year.

Institutional Investors Weigh In On CBIZ

A number of institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new stake in shares of CBIZ in the 2nd quarter valued at $69,000. Allworth Financial LP boosted its holdings in CBIZ by 184.7% during the 2nd quarter. Allworth Financial LP now owns 2,568 shares of the business services provider’s stock valued at $82,000 after acquiring an additional 1,666 shares during the period. Arizona State Retirement System grew its position in CBIZ by 6.6% in the 2nd quarter. Arizona State Retirement System now owns 14,369 shares of the business services provider’s stock valued at $461,000 after acquiring an additional 891 shares in the last quarter. Nykredit A S acquired a new position in CBIZ in the 2nd quarter valued at about $55,000. Finally, Parkside Financial Bank & Trust grew its position in CBIZ by 18.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,629 shares of the business services provider’s stock valued at $52,000 after acquiring an additional 252 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

About CBIZ

CBIZ, Inc (NYSE: CBZ) is a diversified professional services company that provides accounting, tax, advisory, insurance brokerage, and employee benefits services to businesses, nonprofit organizations, government entities, and individuals. The company serves clients across a range of industries, including healthcare, construction, manufacturing, real estate, financial services, and professional services.

Its accounting and advisory offerings include audit and attest services, tax planning and compliance, financial reporting, valuation, transaction advisory, forensic accounting, and business consulting.