CBIZ (NYSE:CBZ) Stock Crosses Above 200 Day Moving Average – Should You Sell?

CBIZ, Inc. (NYSE:CBZ)’s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $40.09 and traded as high as $54.76. CBIZ shares last traded at $54.7450, with a volume of 864,601 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CBZ. Barrington Research cut shares of CBIZ from an “outperform” rating to a “hold” rating in a research report on Wednesday, September 16th. US Capital Advisors set a $55.00 price target on shares of CBIZ in a research report on Thursday, July 30th. William Blair cut shares of CBIZ from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 23rd. Weiss Ratings upgraded shares of CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, CJS Securities cut CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 target price for the company. in a research note on Thursday, July 30th. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $44.50.

CBIZ Trading Up 0.0%

The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 1.31 and a beta of 0.91. The business has a fifty day simple moving average of $54.71 and a 200-day simple moving average of $40.28.

CBIZ (NYSE:CBZ) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.19. CBIZ had a return on equity of 12.33% and a net margin of 4.73%.The company had revenue of $682.21 million for the quarter, compared to analysts’ expectations of $697.96 million. During the same period in the previous year, the business posted $0.95 earnings per share. The business’s quarterly revenue was down .2% compared to the same quarter last year. As a group, equities analysts forecast that CBIZ, Inc. will post 4.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CBIZ

A number of institutional investors have recently added to or reduced their stakes in CBZ. North Point Portfolio Managers Corp OH acquired a new position in shares of CBIZ during the third quarter worth $27,000. Integrated Wealth Concepts LLC acquired a new stake in CBIZ in the second quarter valued at $69,000. Allworth Financial LP raised its position in CBIZ by 184.7% during the 2nd quarter. Allworth Financial LP now owns 2,568 shares of the business services provider’s stock worth $82,000 after purchasing an additional 1,666 shares during the last quarter. Arizona State Retirement System lifted its holdings in CBIZ by 6.6% during the 2nd quarter. Arizona State Retirement System now owns 14,369 shares of the business services provider’s stock worth $461,000 after buying an additional 891 shares during the period. Finally, Nykredit A S bought a new stake in shares of CBIZ in the 2nd quarter valued at about $55,000. 87.44% of the stock is owned by institutional investors.

About CBIZ

CBIZ, Inc was a provider of accounting, tax, advisory, insurance brokerage and employee benefits services for businesses, individuals and public-sector organizations. Its offerings included audit and assurance, tax planning and compliance, financial and strategic consulting, risk management, commercial insurance, retirement plan services and employee benefit solutions.

Founded in 1996 and headquartered in Cleveland, Ohio, CBIZ grew through a combination of organic expansion and acquisitions.