Zacks Investment Research upgraded shares of CBIZ, Inc. (NYSE:CBZ) from a hold rating to a buy rating in a research note released on Friday morning. They currently have $17.00 target price on the business services provider’s stock.
According to Zacks, “CBIZ, Inc. provides professional business services that help clients better manage their finances and employees. CBIZ provides its clients with financial services including accounting, tax, financial advisory, government health care consulting, risk advisory, merger and acquisition advisory, real estate consulting, and valuation services. Employee services include employee benefits consulting, property and casualty insurance, retirement plan consulting, payroll, life insurance, HR consulting, and executive recruitment. As one of the nation’s largest brokers of employee benefits and property and casualty insurance, and one of the largest accounting and valuation companies in the United States, the Company’s services are provided through nearly 100 Company offices in 32 states. “
Shares of CBIZ (NYSE:CBZ) opened at 15.05 on Friday. The company has a market capitalization of $805.37 million, a price-to-earnings ratio of 18.84 and a beta of 0.95. CBIZ has a 52 week low of $9.95 and a 52 week high of $15.90. The stock has a 50 day moving average of $14.74 and a 200-day moving average of $13.50.
CBIZ (NYSE:CBZ) last announced its quarterly earnings data on Thursday, April 27th. The business services provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. The firm had revenue of $241.46 million during the quarter, compared to analyst estimates of $241.95 million. CBIZ had a net margin of 4.95% and a return on equity of 11.02%. CBIZ’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $0.41 EPS. On average, analysts anticipate that CBIZ will post $0.83 EPS for the current year.
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In related news, Director Steven L. Gerard sold 14,500 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $15.53, for a total value of $225,185.00. Following the transaction, the director now owns 333,483 shares in the company, valued at approximately $5,178,990.99. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Todd J. Slotkin sold 8,500 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $13.56, for a total transaction of $115,260.00. Following the completion of the transaction, the director now owns 37,683 shares in the company, valued at approximately $510,981.48. The disclosure for this sale can be found here. Insiders sold a total of 178,094 shares of company stock valued at $2,744,146 over the last ninety days. 7.20% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. First Trust Advisors LP increased its position in shares of CBIZ by 13.9% in the third quarter. First Trust Advisors LP now owns 29,050 shares of the business services provider’s stock valued at $325,000 after buying an additional 3,536 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of CBIZ by 22.3% in the third quarter. TIAA CREF Investment Management LLC now owns 374,243 shares of the business services provider’s stock valued at $4,188,000 after buying an additional 68,259 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of CBIZ by 54.1% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 41,040 shares of the business services provider’s stock valued at $459,000 after buying an additional 14,410 shares during the period. Acrospire Investment Management LLC increased its position in shares of CBIZ by 69.3% in the third quarter. Acrospire Investment Management LLC now owns 12,189 shares of the business services provider’s stock valued at $136,000 after buying an additional 4,989 shares during the period. Finally, Phocas Financial Corp. increased its position in shares of CBIZ by 6.5% in the third quarter. Phocas Financial Corp. now owns 993,164 shares of the business services provider’s stock valued at $11,114,000 after buying an additional 60,565 shares during the period. Institutional investors own 86.64% of the company’s stock.
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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