BidaskClub downgraded shares of CBIZ, Inc. (NYSE:CBZ) from a buy rating to a hold rating in a research note issued to investors on Monday, July 24th.
Several other brokerages have also recently issued reports on CBZ. Zacks Investment Research raised CBIZ from a hold rating to a buy rating and set a $18.00 price objective for the company in a report on Friday, April 28th. ValuEngine raised CBIZ from a hold rating to a buy rating in a report on Friday, June 2nd.
CBIZ (NYSE CBZ) opened at 14.50 on Monday. The firm has a 50-day moving average price of $14.99 and a 200-day moving average price of $14.46. The company has a market cap of $787.74 million, a P/E ratio of 17.16 and a beta of 0.91. CBIZ has a 12-month low of $10.73 and a 12-month high of $15.90.
CBIZ (NYSE:CBZ) last issued its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The business had revenue of $211 million during the quarter, compared to analysts’ expectations of $207.42 million. CBIZ had a return on equity of 9.42% and a net margin of 5.54%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 EPS. On average, analysts forecast that CBIZ will post $0.87 earnings per share for the current fiscal year.
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In related news, insider Ware H. Grove sold 12,000 shares of CBIZ stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $15.24, for a total value of $182,880.00. Following the completion of the transaction, the insider now owns 265,100 shares in the company, valued at approximately $4,040,124. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael W. Gleespen sold 8,000 shares of CBIZ stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $15.01, for a total value of $120,080.00. Following the completion of the transaction, the insider now owns 101,712 shares of the company’s stock, valued at approximately $1,526,697.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,927 shares of company stock valued at $1,182,297. 7.20% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in CBZ. Metropolitan Life Insurance Co. NY raised its position in shares of CBIZ by 6.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 35,615 shares of the business services provider’s stock valued at $488,000 after buying an additional 2,057 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its stake in CBIZ by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 186,573 shares of the business services provider’s stock valued at $2,528,000 after buying an additional 723 shares during the period. Karp Capital Management Corp purchased a new stake in CBIZ during the first quarter valued at approximately $289,000. American International Group Inc. raised its stake in CBIZ by 7.1% in the first quarter. American International Group Inc. now owns 30,401 shares of the business services provider’s stock valued at $412,000 after buying an additional 2,013 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in CBIZ by 2.6% in the first quarter. Ameriprise Financial Inc. now owns 13,710 shares of the business services provider’s stock valued at $186,000 after buying an additional 350 shares during the period. Hedge funds and other institutional investors own 84.77% of the company’s stock.
CBIZ Company Profile
CBIZ, Inc (CBIZ) is engaged in the professional services business. The Company operates its professional services business through acquiring and integrating accounting and financial service providers, group health benefits consulting firms, property and casualty brokerage firms, payroll service providers, and valuation and other service firms throughout the United States.
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