CBIZ, Inc. (NYSE:CBZ) Short Interest Down 7.0% in September

CBIZ, Inc. (NYSE:CBZ) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 1,060,000 shares, a decrease of 7.0% from the September 15th total of 1,140,000 shares. Based on an average daily volume of 344,000 shares, the short-interest ratio is presently 3.1 days. Approximately 2.2% of the company’s shares are short sold.

Hedge Funds Weigh In On CBIZ

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC boosted its holdings in CBIZ by 2,980.0% in the second quarter. Quest Partners LLC now owns 462 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 447 shares in the last quarter. Whittier Trust Co. acquired a new stake in shares of CBIZ in the first quarter valued at approximately $54,000. Covestor Ltd boosted its holdings in shares of CBIZ by 45.5% in the first quarter. Covestor Ltd now owns 707 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 221 shares during the period. Picton Mahoney Asset Management acquired a new stake in shares of CBIZ in the second quarter valued at approximately $82,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of CBIZ in the second quarter valued at approximately $137,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on CBZ. StockNews.com lowered shares of CBIZ from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Sidoti upgraded shares of CBIZ from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $86.00 in a research note on Monday, August 12th.

CBIZ Stock Down 0.1 %

Shares of CBIZ stock traded down $0.06 on Thursday, reaching $67.35. 164,803 shares of the company were exchanged, compared to its average volume of 313,281. CBIZ has a 1-year low of $49.15 and a 1-year high of $86.36. The company has a market cap of $3.38 billion, a P/E ratio of 27.29 and a beta of 0.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.48. The stock’s 50 day moving average price is $68.24 and its 200-day moving average price is $73.44.

CBIZ (NYSE:CBZ) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.29). CBIZ had a return on equity of 14.58% and a net margin of 7.12%. The company had revenue of $420.00 million for the quarter, compared to analyst estimates of $430.38 million. During the same period in the prior year, the firm posted $0.55 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts forecast that CBIZ will post 2.64 EPS for the current year.

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.