CBIZ, Inc. (NYSE:CBZ)’s share price hit a new 52-week high and low during trading on Thursday . The company traded as low as $20.10 and last traded at $20.05, with a volume of 211600 shares traded. The stock had previously closed at $19.75.
A number of equities research analysts have weighed in on CBZ shares. ValuEngine cut shares of CBIZ from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research upgraded shares of CBIZ from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a research report on Tuesday, May 1st.
The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.38. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 22.70 and a beta of 0.71.
CBIZ declared that its board has approved a stock repurchase program on Wednesday, February 14th that permits the company to buyback 5,000,000 shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In other CBIZ news, insider Ware H. Grove sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $18.35, for a total transaction of $458,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven L. Gerard sold 109,947 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $18.13, for a total transaction of $1,993,339.11. Following the transaction, the director now owns 346,976 shares of the company’s stock, valued at approximately $6,290,674.88. The disclosure for this sale can be found here. Insiders have sold a total of 135,947 shares of company stock valued at $2,471,049 in the last quarter. 7.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Burgundy Asset Management Ltd. grew its holdings in CBIZ by 0.9% during the 1st quarter. Burgundy Asset Management Ltd. now owns 4,942,384 shares of the business services provider’s stock worth $90,199,000 after acquiring an additional 45,364 shares in the last quarter. BlackRock Inc. grew its holdings in CBIZ by 1.1% during the 4th quarter. BlackRock Inc. now owns 3,355,981 shares of the business services provider’s stock worth $51,851,000 after acquiring an additional 35,187 shares in the last quarter. Cardinal Capital Management LLC CT grew its holdings in CBIZ by 3.2% during the 4th quarter. Cardinal Capital Management LLC CT now owns 2,749,632 shares of the business services provider’s stock worth $42,482,000 after acquiring an additional 84,186 shares in the last quarter. P2 Capital Partners LLC grew its holdings in CBIZ by 5.1% during the 1st quarter. P2 Capital Partners LLC now owns 2,694,902 shares of the business services provider’s stock worth $49,182,000 after acquiring an additional 129,902 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of CBIZ by 3.9% during the 1st quarter. Northern Trust Corp now owns 1,026,517 shares of the business services provider’s stock worth $18,733,000 after buying an additional 38,108 shares during the last quarter. Institutional investors own 86.54% of the company’s stock.
CBIZ, Inc, through its subsidiaries, provides professional business services, products, and solutions in the United States and Canada. It offers its services through three practice groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services practice group provides accounting and tax compliance and consulting, government health care consulting, financial advisory, valuation, litigation support, risk and advisory, real estate consulting, and internal audit outsourcing services.
Receive News & Ratings for CBIZ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBIZ and related companies with MarketBeat.com's FREE daily email newsletter.