CBIZ (NYSE:CBZ) Shares Down 7.7% – Here’s What Happened

CBIZ, Inc. (NYSE:CBZ) fell 7.7% on Monday . The stock traded as low as $36.03 and last traded at $35.3150. 35,082 shares were traded during trading, a decline of 96% from the average session volume of 873,567 shares. The stock had previously closed at $38.27.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. CJS Securities raised shares of CBIZ to a “strong-buy” rating in a research report on Thursday, December 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of CBIZ in a research note on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft began coverage on CBIZ in a report on Monday, January 12th. They set a “hold” rating and a $60.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, CBIZ has an average rating of “Moderate Buy” and a consensus target price of $60.00.

CBIZ Stock Performance

The company’s fifty day simple moving average is $48.81 and its two-hundred day simple moving average is $54.42. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 22.54 and a beta of 0.92. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.57 and a current ratio of 1.57.

Insider Activity at CBIZ

In other CBIZ news, Director Benaree Pratt Wiley sold 8,288 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $49.54, for a total transaction of $410,587.52. Following the sale, the director owned 35,956 shares in the company, valued at $1,781,260.24. This represents a 18.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brad S. Lakhia bought 2,060 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was purchased at an average price of $48.51 per share, with a total value of $99,930.60. Following the transaction, the chief financial officer owned 40,584 shares in the company, valued at approximately $1,968,729.84. This represents a 5.35% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 4.95% of the company’s stock.

Hedge Funds Weigh In On CBIZ

Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd grew its holdings in shares of CBIZ by 377.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 559 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 442 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of CBIZ in the 2nd quarter worth approximately $35,000. Strategic Wealth Investment Group LLC acquired a new position in CBIZ during the 2nd quarter valued at approximately $37,000. Danske Bank A S bought a new position in CBIZ during the 3rd quarter worth $42,000. Finally, Torren Management LLC bought a new stake in CBIZ in the fourth quarter valued at $48,000. Institutional investors own 87.44% of the company’s stock.

About CBIZ

CBIZ, Inc (NYSE: CBZ), founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.

Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.