CBIZ (CBZ) Downgraded by Zacks Investment Research to “Sell”

CBIZ (NYSE:CBZ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

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. “

Separately, ValuEngine downgraded CBIZ from a “buy” rating to a “hold” rating in a research note on Friday, December 1st.

Shares of CBIZ (NYSE:CBZ) opened at $16.15 on Thursday. The company has a market capitalization of $881.73, a price-to-earnings ratio of 19.70 and a beta of 0.82. CBIZ has a 12 month low of $12.75 and a 12 month high of $17.25. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.54 and a current ratio of 1.54.

In other CBIZ news, Director Steven L. Gerard sold 33,731 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $15.02, for a total transaction of $506,639.62. Following the completion of the transaction, the director now owns 349,363 shares in the company, valued at approximately $5,247,432.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven L. Gerard sold 26,423 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $15.03, for a total value of $397,137.69. Following the transaction, the director now owns 349,906 shares of the company’s stock, valued at approximately $5,259,087.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,053 shares of company stock valued at $1,575,512. Corporate insiders own 6.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its holdings in CBIZ by 209.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 227,963 shares of the business services provider’s stock worth $3,419,000 after purchasing an additional 154,207 shares in the last quarter. Vanguard Group Inc. increased its holdings in CBIZ by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,302,818 shares of the business services provider’s stock worth $34,542,000 after purchasing an additional 108,000 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in CBIZ by 2.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 380,689 shares of the business services provider’s stock worth $6,186,000 after purchasing an additional 8,373 shares in the last quarter. Macquarie Group Ltd. bought a new position in CBIZ during the 3rd quarter worth about $365,000. Finally, ClariVest Asset Management LLC increased its holdings in CBIZ by 3.4% during the 3rd quarter. ClariVest Asset Management LLC now owns 609,568 shares of the business services provider’s stock worth $9,905,000 after purchasing an additional 19,993 shares in the last quarter. Hedge funds and other institutional investors own 84.37% of the company’s stock.

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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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