CBIZ (NYSE:CBZ) Shares Up 5.4% Following Earnings Beat

CBIZ, Inc. (NYSE:CBZ) shares rose 5.4% during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $71.76 and last traded at $70.48. Approximately 25,382 shares changed hands during trading, a decline of 92% from the average daily volume of 310,939 shares. The stock had previously closed at $66.86.

The business services provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $438.90 million during the quarter, compared to analysts’ expectations of $440.16 million. CBIZ had a return on equity of 14.58% and a net margin of 7.12%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CBZ. Sidoti upgraded shares of CBIZ from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $80.00 to $86.00 in a report on Monday, August 12th. StockNews.com downgraded CBIZ from a “hold” rating to a “sell” rating in a report on Thursday, September 5th.

Hedge Funds Weigh In On CBIZ

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of CBIZ by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 2,718,316 shares of the business services provider’s stock valued at $170,139,000 after acquiring an additional 51,127 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of CBIZ by 19.5% in the 1st quarter. Principal Financial Group Inc. now owns 19,459 shares of the business services provider’s stock valued at $1,528,000 after purchasing an additional 3,179 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of CBIZ by 2.7% during the 1st quarter. Private Advisor Group LLC now owns 43,465 shares of the business services provider’s stock valued at $3,412,000 after buying an additional 1,130 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of CBIZ by 39.6% during the 1st quarter. BNP Paribas Financial Markets now owns 50,004 shares of the business services provider’s stock worth $3,925,000 after buying an additional 14,173 shares during the last quarter. Finally, Cross Staff Investments Inc purchased a new position in shares of CBIZ in the 1st quarter worth $236,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

CBIZ Stock Down 0.3 %

The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 30.03 and a beta of 0.92. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average of $67.89 and a two-hundred day moving average of $72.86.

CBIZ Company Profile

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.