ValuEngine Downgrades CBIZ (NYSE:CBZ) to Hold

CBIZ (NYSE:CBZ) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Wednesday, ValuEngine reports.

Separately, Zacks Investment Research downgraded shares of CBIZ from a “buy” rating to a “hold” rating in a research report on Tuesday.

Shares of CBZ stock traded up $0.02 during midday trading on Wednesday, reaching $23.27. 175,122 shares of the company were exchanged, compared to its average volume of 212,828. CBIZ has a 12 month low of $18.64 and a 12 month high of $24.69. The company has a market cap of $1.27 billion, a P/E ratio of 21.35 and a beta of 0.33. The company’s 50 day moving average price is $23.25 and its two-hundred day moving average price is $21.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.41 and a current ratio of 1.41.

CBIZ (NYSE:CBZ) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. CBIZ had a net margin of 7.18% and a return on equity of 10.89%. The company had revenue of $235.50 million for the quarter, compared to the consensus estimate of $243.01 million. During the same period in the previous year, the firm earned $0.23 EPS. CBIZ’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts predict that CBIZ will post 1.22 earnings per share for the current year.

In related news, Director Benaree Pratt Wiley sold 1,600 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $23.15, for a total value of $37,040.00. Following the sale, the director now directly owns 8,000 shares in the company, valued at approximately $185,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ware H. Grove sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $23.24, for a total transaction of $581,000.00. Following the completion of the sale, the insider now owns 288,096 shares in the company, valued at $6,695,351.04. The disclosure for this sale can be found here. Insiders have sold a total of 96,600 shares of company stock worth $2,235,040 over the last 90 days. 7.40% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBZ. DekaBank Deutsche Girozentrale bought a new stake in shares of CBIZ in the 2nd quarter worth approximately $37,000. US Bancorp DE bought a new stake in shares of CBIZ in the 2nd quarter worth approximately $47,000. Point72 Hong Kong Ltd raised its holdings in shares of CBIZ by 4,600.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,632 shares of the business services provider’s stock worth $52,000 after purchasing an additional 2,576 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of CBIZ by 21.2% in the 2nd quarter. SG Americas Securities LLC now owns 8,439 shares of the business services provider’s stock worth $165,000 after purchasing an additional 1,478 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of CBIZ by 8.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,117 shares of the business services provider’s stock worth $204,000 after purchasing an additional 801 shares in the last quarter. Institutional investors and hedge funds own 87.08% of the company’s stock.

CBIZ Company Profile

CBIZ, Inc provides professional business services, products, and solutions that help its clients in managing finances and employees. It offers its services through three groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services group provides accounting and tax, government healthcare consulting, financial advisory, valuation, and risk and advisory services.

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