Elevation Point Wealth Partners LLC Invests $740,000 in CBIZ, Inc. $CBZ

Elevation Point Wealth Partners LLC purchased a new stake in CBIZ, Inc. (NYSE:CBZ) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 23,059 shares of the business services provider’s stock, valued at approximately $740,000.

A number of other large investors have also added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. bought a new position in CBIZ during the 2nd quarter worth $27,000. Caitong International Asset Management Co. Ltd increased its position in shares of CBIZ by 377.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 559 shares of the business services provider’s stock worth $30,000 after purchasing an additional 442 shares during the period. Strategic Wealth Investment Group LLC bought a new position in shares of CBIZ in the second quarter worth $37,000. EverSource Wealth Advisors LLC increased its position in shares of CBIZ by 667.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,512 shares of the business services provider’s stock worth $41,000 after purchasing an additional 1,315 shares during the period. Finally, Danske Bank A S acquired a new position in CBIZ in the third quarter valued at about $42,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

CBIZ Stock Down 0.1%

Shares of CBZ opened at $54.61 on Tuesday. The stock’s 50-day moving average price is $43.58 and its two-hundred day moving average price is $34.77. CBIZ, Inc. has a 12 month low of $24.29 and a 12 month high of $66.52. The company has a market capitalization of $2.96 billion, a PE ratio of 25.52, a PEG ratio of 1.15 and a beta of 0.92. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.74.

CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.19. The company had revenue of $682.21 million during the quarter, compared to analysts’ expectations of $697.96 million. CBIZ had a return on equity of 12.33% and a net margin of 4.73%.The business’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 earnings per share. On average, analysts anticipate that CBIZ, Inc. will post 4.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CBZ. Barrington Research began coverage on shares of CBIZ in a report on Wednesday, June 24th. They issued an “outperform” rating and a $45.00 target price for the company. Stephens set a $37.00 price objective on CBIZ in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $42.00 target price on shares of CBIZ in a research report on Thursday, April 30th. CJS Securities lowered shares of CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 price objective for the company. in a report on Thursday, July 30th. Finally, US Capital Advisors set a $55.00 target price on shares of CBIZ in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, CBIZ currently has a consensus rating of “Hold” and an average price target of $44.50.

CBIZ Profile

CBIZ, Inc (NYSE: CBZ), founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.

Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.