CBIZ (NYSE:CBZ) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of CBIZ (NYSE:CBZ) from a hold rating to a sell rating in a report released on Wednesday morning.

Separately, Sidoti raised CBIZ from a “neutral” rating to a “buy” rating and raised their price target for the stock from $80.00 to $86.00 in a report on Monday, August 12th.

CBIZ Price Performance

CBZ stock opened at $80.79 on Wednesday. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 34.23 and a beta of 0.91. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.36. CBIZ has a fifty-two week low of $57.01 and a fifty-two week high of $86.36. The business has a 50 day moving average price of $70.00 and a 200 day moving average price of $73.09.

CBIZ (NYSE:CBZ) last posted its earnings results on Tuesday, October 29th. The business services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. The business had revenue of $438.90 million during the quarter, compared to the consensus estimate of $440.16 million. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 EPS. Equities research analysts anticipate that CBIZ will post 2.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in CBIZ by 36.3% during the 1st quarter. Vanguard Group Inc. now owns 3,705,090 shares of the business services provider’s stock worth $290,850,000 after purchasing an additional 986,774 shares during the period. Capital Research Global Investors grew its holdings in CBIZ by 309.4% during the first quarter. Capital Research Global Investors now owns 3,128,738 shares of the business services provider’s stock worth $245,606,000 after acquiring an additional 2,364,545 shares during the period. Burgundy Asset Management Ltd. raised its position in CBIZ by 1.8% in the second quarter. Burgundy Asset Management Ltd. now owns 2,220,013 shares of the business services provider’s stock worth $164,503,000 after acquiring an additional 40,215 shares in the last quarter. State Street Corp lifted its holdings in CBIZ by 0.9% in the third quarter. State Street Corp now owns 1,130,848 shares of the business services provider’s stock valued at $76,095,000 after acquiring an additional 10,555 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of CBIZ by 1.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,125,766 shares of the business services provider’s stock worth $75,753,000 after purchasing an additional 11,401 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

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.