CBIZ (CBZ) Reaches New 12-Month High and Low at $21.68

CBIZ, Inc. (NYSE:CBZ)’s share price hit a new 52-week high and low during trading on Tuesday . The stock traded as low as $21.68 and last traded at $21.70, with a volume of 11137 shares traded. The stock had previously closed at $21.55.

Several equities research analysts have issued reports on the stock. Sidoti assumed coverage on shares of CBIZ in a research note on Tuesday. They set a “buy” rating for the company. Zacks Investment Research upgraded shares of CBIZ from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Finally, ValuEngine upgraded shares of CBIZ from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 1st.

The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $1.18 billion, a PE ratio of 25.52 and a beta of 0.73.

CBIZ (NYSE:CBZ) last released its quarterly earnings data on Thursday, April 26th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.06. The company had revenue of $266.10 million during the quarter, compared to the consensus estimate of $254.43 million. CBIZ had a net margin of 6.97% and a return on equity of 11.01%. CBIZ’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 earnings per share. analysts expect that CBIZ, Inc. will post 1.1 EPS for the current fiscal year.

CBIZ declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 14th that permits the company to repurchase 5,000,000 shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

In other news, Director Donald V. Weir sold 10,000 shares of the company’s stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $20.31, for a total value of $203,100.00. Following the completion of the transaction, the director now directly owns 21,955 shares in the company, valued at $445,906.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ware H. Grove sold 14,963 shares of the company’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $21.50, for a total transaction of $321,704.50. Following the completion of the transaction, the insider now owns 288,059 shares of the company’s stock, valued at $6,193,268.50. The disclosure for this sale can be found here. Insiders sold 25,963 shares of company stock valued at $543,765 over the last 90 days. Insiders own 7.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Burgundy Asset Management Ltd. boosted its stake in CBIZ by 0.9% during the 1st quarter. Burgundy Asset Management Ltd. now owns 4,942,384 shares of the business services provider’s stock valued at $90,199,000 after acquiring an additional 45,364 shares during the last quarter. BlackRock Inc. boosted its stake in CBIZ by 1.1% during the 4th quarter. BlackRock Inc. now owns 3,355,981 shares of the business services provider’s stock valued at $51,851,000 after acquiring an additional 35,187 shares during the last quarter. Cardinal Capital Management LLC CT boosted its stake in CBIZ by 3.2% during the 4th quarter. Cardinal Capital Management LLC CT now owns 2,749,632 shares of the business services provider’s stock valued at $42,482,000 after acquiring an additional 84,186 shares during the last quarter. P2 Capital Partners LLC boosted its stake in CBIZ by 5.1% during the 1st quarter. P2 Capital Partners LLC now owns 2,694,902 shares of the business services provider’s stock valued at $49,182,000 after acquiring an additional 129,902 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in CBIZ by 3.9% during the 1st quarter. Northern Trust Corp now owns 1,026,517 shares of the business services provider’s stock valued at $18,733,000 after acquiring an additional 38,108 shares during the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

CBIZ Company Profile

CBIZ, Inc, through its subsidiaries, provides professional business services, products, and solutions in the United States and Canada. It offers its services through three practice groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services practice group provides accounting and tax compliance and consulting, government health care consulting, financial advisory, valuation, litigation support, risk and advisory, real estate consulting, and internal audit outsourcing services.

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