Zacks Investment Research upgraded shares of CBIZ Inc. (NYSE:CBZ) from a hold rating to a buy rating in a research report sent to investors on Wednesday. Zacks Investment Research currently has $12.00 price target on the stock.
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, Sidoti began coverage on CBIZ in a research report on Tuesday, July 19th. They issued a buy rating for the company.
CBIZ (NYSE:CBZ) opened at 11.31 on Wednesday. The company has a market capitalization of $593.78 million, a PE ratio of 15.93 and a beta of 0.67. The company has a 50 day moving average price of $11.32 and a 200-day moving average price of $10.62. CBIZ has a one year low of $9.30 and a one year high of $11.82.
CBIZ (NYSE:CBZ) last released its earnings results on Tuesday, August 2nd. The company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.01. The firm earned $197 million during the quarter, compared to the consensus estimate of $198.70 million. CBIZ had a return on equity of 11.75% and a net margin of 4.94%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 EPS. Analysts expect that CBIZ will post $0.75 EPS for the current fiscal year.
In other CBIZ news, CEO Jerome P. Grisko sold 9,090 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $11.08, for a total value of $100,717.20. Following the completion of the sale, the chief executive officer now owns 519,074 shares in the company, valued at $5,751,339.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Spurio sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $11.60, for a total value of $81,200.00. Following the completion of the sale, the insider now owns 186,140 shares of the company’s stock, valued at approximately $2,159,224. The disclosure for this sale can be found here. 7.20% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of CBZ. Prudential Financial Inc. acquired a new position in CBIZ during the second quarter valued at about $127,000. Ameriprise Financial Inc. boosted its position in CBIZ by 8.4% in the second quarter. Ameriprise Financial Inc. now owns 13,490 shares of the company’s stock valued at $140,000 after buying an additional 1,040 shares during the period. BlackRock Inc. boosted its position in CBIZ by 328.6% in the second quarter. BlackRock Inc. now owns 14,517 shares of the company’s stock valued at $151,000 after buying an additional 11,130 shares during the period. BlackRock Group LTD boosted its position in CBIZ by 308.2% in the first quarter. BlackRock Group LTD now owns 16,253 shares of the company’s stock valued at $164,000 after buying an additional 12,271 shares during the period. Finally, BlackRock Advisors LLC boosted its position in CBIZ by 7.2% in the second quarter. BlackRock Advisors LLC now owns 24,920 shares of the company’s stock valued at $259,000 after buying an additional 1,682 shares during the period. 84.62% of the stock is currently owned by hedge funds and other institutional investors.
CBIZ Company Profile
CBIZ, Inc is engaged in providing professional business services, products and solutions to businesses, as well as individuals, governmental entities and not-for-profit enterprises, throughout the United States and parts of Canada. The Company’s business units are aggregated into three practice groups: Financial Services, National Practices and Employee Services.
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