CBIZ (NYSE:CBZ) Raised to Hold at StockNews.com

StockNews.com upgraded shares of CBIZ (NYSE:CBZ) from a sell rating to a hold rating in a research report sent to investors on Thursday.

CBIZ Stock Performance

Shares of CBZ opened at $74.10 on Thursday. CBIZ has a 12-month low of $49.15 and a 12-month high of $80.42. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. The company has a market cap of $3.71 billion, a PE ratio of 30.00 and a beta of 0.91. The stock has a 50-day moving average price of $75.71 and a 200-day moving average price of $71.61.

CBIZ (NYSE:CBZ) last announced its earnings results on Thursday, April 25th. The business services provider reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.03). CBIZ had a net margin of 7.65% and a return on equity of 15.43%. The company had revenue of $494.30 million during the quarter, compared to analysts’ expectations of $490.88 million. During the same period in the prior year, the business earned $1.46 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities analysts forecast that CBIZ will post 2.74 earnings per share for the current fiscal year.

Institutional Trading of CBIZ

A number of hedge funds have recently bought and sold shares of the company. Fortis Group Advisors LLC purchased a new position in shares of CBIZ during the third quarter worth approximately $45,000. Whittier Trust Co. purchased a new position in CBIZ in the 1st quarter worth $54,000. Covestor Ltd raised its position in CBIZ by 45.5% in the 1st quarter. Covestor Ltd now owns 707 shares of the business services provider’s stock worth $56,000 after purchasing an additional 221 shares during the period. Assetmark Inc. lifted its stake in CBIZ by 24.8% in the fourth quarter. Assetmark Inc. now owns 905 shares of the business services provider’s stock worth $57,000 after purchasing an additional 180 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in CBIZ during the fourth quarter valued at about $63,000. Institutional investors own 87.44% of the company’s stock.

About CBIZ

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through Financial Services, Benefits and Insurance Services, and National Practices segments. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.