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

StockNews.com upgraded shares of CBIZ (NYSE:CBZ) from a sell rating to a hold rating in a research report report published on Thursday morning.

CBIZ Price Performance

NYSE CBZ opened at $74.10 on Thursday. The firm has a market cap of $3.71 billion, a P/E ratio of 30.00 and a beta of 0.91. The stock’s 50-day moving average is $75.71 and its two-hundred day moving average is $71.69. CBIZ has a fifty-two week low of $49.15 and a fifty-two week high of $80.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.54 and a quick ratio of 1.54.

CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Thursday, April 25th. The business services provider reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.03). The business had revenue of $494.30 million during the quarter, compared to analyst estimates of $490.88 million. CBIZ had a net margin of 7.65% and a return on equity of 15.43%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.46 earnings per share. On average, analysts anticipate that CBIZ will post 2.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CBIZ

A number of institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. grew its position in CBIZ by 24.8% during the fourth quarter. Assetmark Inc. now owns 905 shares of the business services provider’s stock worth $57,000 after buying an additional 180 shares in the last quarter. Moran Wealth Management LLC grew its position in CBIZ by 3.9% during the fourth quarter. Moran Wealth Management LLC now owns 5,093 shares of the business services provider’s stock worth $319,000 after buying an additional 189 shares in the last quarter. Covestor Ltd grew its position in CBIZ by 45.5% during the first quarter. Covestor Ltd now owns 707 shares of the business services provider’s stock worth $56,000 after buying an additional 221 shares in the last quarter. Diversified Trust Co grew its position in CBIZ by 2.6% during the third quarter. Diversified Trust Co now owns 9,881 shares of the business services provider’s stock worth $513,000 after buying an additional 251 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in CBIZ by 6.2% during the third quarter. O Shaughnessy Asset Management LLC now owns 4,381 shares of the business services provider’s stock worth $227,000 after buying an additional 257 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

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.