CBIZ (NYSE:CBZ) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of CBIZ (NYSE:CBZ) from a sell rating to a hold rating in a report issued on Tuesday.

Separately, Sidoti raised shares of CBIZ from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $80.00 to $86.00 in a report on Monday, August 12th.

CBIZ Stock Down 1.8 %

CBZ stock opened at $76.48 on Tuesday. The company has a 50 day moving average of $68.76 and a two-hundred day moving average of $72.91. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 32.41 and a beta of 0.91. CBIZ has a 12-month low of $56.64 and a 12-month high of $86.36. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.36.

CBIZ (NYSE:CBZ) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The business had revenue of $438.90 million during the quarter, compared to analysts’ expectations of $440.16 million. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. On average, equities analysts anticipate that CBIZ will post 2.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CBIZ

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of CBIZ by 36.3% during the 1st quarter. Vanguard Group Inc. now owns 3,705,090 shares of the business services provider’s stock worth $290,850,000 after acquiring an additional 986,774 shares during the period. Capital Research Global Investors raised its holdings in shares of CBIZ by 309.4% in the first quarter. Capital Research Global Investors now owns 3,128,738 shares of the business services provider’s stock valued at $245,606,000 after buying an additional 2,364,545 shares during the last quarter. Burgundy Asset Management Ltd. lifted its position in shares of CBIZ by 1.8% during the second quarter. Burgundy Asset Management Ltd. now owns 2,220,013 shares of the business services provider’s stock worth $164,503,000 after purchasing an additional 40,215 shares in the last quarter. State Street Corp lifted its holdings in CBIZ by 0.9% during the 3rd quarter. State Street Corp now owns 1,130,848 shares of the business services provider’s stock worth $76,095,000 after buying an additional 10,555 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in CBIZ by 1.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,125,766 shares of the business services provider’s stock valued at $75,753,000 after acquiring an additional 11,401 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

About CBIZ

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through Financial Services, Benefits and Insurance Services, and National Practices segments. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.