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

CBIZ (NYSE:CBZ) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

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

CBIZ Trading Up 1.5 %

Shares of NYSE CBZ traded up $1.19 during midday trading on Tuesday, reaching $79.20. 217,014 shares of the stock were exchanged, compared to its average volume of 316,648. The stock has a 50 day moving average price of $73.38 and a 200-day moving average price of $73.38. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $3.97 billion, a P/E ratio of 33.56 and a beta of 0.95. CBIZ has a 52-week low of $57.79 and a 52-week high of $86.36.

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

Hedge Funds Weigh In On CBIZ

Large investors have recently modified their holdings of the company. Quest Partners LLC lifted its position in CBIZ by 2,980.0% during the second quarter. Quest Partners LLC now owns 462 shares of the business services provider’s stock valued at $34,000 after buying an additional 447 shares in the last quarter. Signaturefd LLC boosted its position in CBIZ by 55.8% during the 3rd quarter. Signaturefd LLC now owns 961 shares of the business services provider’s stock worth $65,000 after purchasing an additional 344 shares during the period. Quarry LP increased its holdings in CBIZ by 6,335.3% in the 3rd quarter. Quarry LP now owns 1,094 shares of the business services provider’s stock valued at $74,000 after purchasing an additional 1,077 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of CBIZ during the second quarter worth about $82,000. Finally, KBC Group NV boosted its position in shares of CBIZ by 29.7% in the third quarter. KBC Group NV now owns 1,553 shares of the business services provider’s stock worth $105,000 after buying an additional 356 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

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.