CBIZ, Inc. (CBZ) Cut to “Hold” at Zacks Investment Research

CBIZ, Inc. (NYSE:CBZ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, May 11th.

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 15.15 on Thursday. CBIZ has a 1-year low of $9.95 and a 1-year high of $15.90. The firm has a market capitalization of $810.72 million, a P/E ratio of 18.96 and a beta of 0.92. The stock’s 50 day moving average is $15.25 and its 200 day moving average is $14.00.

CBIZ (NYSE:CBZ) last posted its earnings results on Thursday, April 27th. The business services provider reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. The firm had revenue of $241.46 million for the quarter, compared to the consensus estimate of $241.95 million. CBIZ had a net margin of 5.28% and a return on equity of 9.10%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $0.41 EPS. Equities analysts predict that CBIZ will post $0.83 earnings per share for the current year.

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In related news, Director Steven L. Gerard sold 89,500 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $15.63, for a total transaction of $1,398,885.00. Following the completion of the sale, the director now owns 363,983 shares in the company, valued at approximately $5,689,054.29. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ware H. Grove sold 22,927 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $15.25, for a total transaction of $349,636.75. Following the sale, the insider now owns 262,673 shares of the company’s stock, valued at approximately $4,005,763.25. The disclosure for this sale can be found here. Insiders sold a total of 235,521 shares of company stock worth $3,628,303 over the last ninety days. Insiders own 7.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of CBZ. First Trust Advisors LP boosted its stake 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 worth $325,000 after buying an additional 3,536 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake 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 worth $4,188,000 after buying an additional 68,259 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake 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 worth $459,000 after buying an additional 14,410 shares in the last quarter. Acrospire Investment Management LLC boosted its stake 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 worth $136,000 after buying an additional 4,989 shares in the last quarter. Finally, Phocas Financial Corp. boosted its stake 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 worth $11,114,000 after buying an additional 60,565 shares in the last quarter. Hedge funds and other institutional investors own 84.96% of the company’s stock.

CBIZ Company Profile

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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