CBIZ (NYSE:CBZ) posted its earnings results on Wednesday. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.02, MarketWatch Earnings reports. The business had revenue of $199.00 million for the quarter, compared to analysts’ expectations of $202.33 million. CBIZ had a net margin of 7.34% and a return on equity of 11.30%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 EPS. CBIZ updated its FY 2019 guidance to $1.20-1.22 EPS and its FY19 guidance to $1.20-1.22 EPS.
CBZ traded down $0.04 during trading on Wednesday, reaching $20.50. 2,050 shares of the company traded hands, compared to its average volume of 184,852. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.50 and a quick ratio of 1.50. CBIZ has a 12-month low of $15.85 and a 12-month high of $24.38. The firm has a market cap of $1.12 billion, a P/E ratio of 23.41 and a beta of 0.52.
Separately, Zacks Investment Research raised shares of CBIZ from a “sell” rating to a “hold” rating in a report on Wednesday, December 19th.
A number of institutional investors and hedge funds have recently made changes to their positions in CBZ. FMR LLC lifted its stake in shares of CBIZ by 17.4% in the third quarter. FMR LLC now owns 7,928,680 shares of the business services provider’s stock valued at $187,909,000 after buying an additional 1,172,628 shares in the last quarter. BlackRock Inc. lifted its position in CBIZ by 6.4% during the 4th quarter. BlackRock Inc. now owns 3,988,818 shares of the business services provider’s stock worth $78,579,000 after acquiring an additional 239,889 shares during the period. Vanguard Group Inc. lifted its position in CBIZ by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,439,155 shares of the business services provider’s stock worth $57,809,000 after acquiring an additional 15,817 shares during the period. Vanguard Group Inc lifted its position in CBIZ by 0.7% during the 3rd quarter. Vanguard Group Inc now owns 2,439,155 shares of the business services provider’s stock worth $57,809,000 after acquiring an additional 15,817 shares during the period. Finally, Northern Trust Corp lifted its position in CBIZ by 1.1% during the 4th quarter. Northern Trust Corp now owns 1,098,872 shares of the business services provider’s stock worth $21,649,000 after acquiring an additional 12,284 shares during the period. 86.82% of the stock is owned by institutional investors and hedge funds.
CBIZ, Inc provides professional business services that help its clients manage their finances, employees, and insurance needs. It offers its services through three practice groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services practice group provides accounting, tax, financial advisory, government healthcare consulting, and risk advisory and valuation services.
Recommended Story: Outstanding Shares
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.