CBIZ (CBZ) Announces Quarterly Earnings Results

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.

In other CBIZ news, insider Michael W. Gleespen sold 54,682 shares of the stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $20.01, for a total transaction of $1,094,186.82. Following the completion of the sale, the insider now directly owns 65,870 shares of the company’s stock, valued at approximately $1,318,058.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael W. Gleespen sold 44,010 shares of the stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $20.01, for a total transaction of $880,640.10. Following the sale, the insider now directly owns 65,870 shares of the company’s stock, valued at $1,318,058.70. The disclosure for this sale can be found here. Company insiders own 7.20% of the company’s stock.

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.

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About CBIZ

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.

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Earnings History for CBIZ (NYSE:CBZ)

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