CBIZ (NYSE:CBZ) Reaches New 1-Year Low – Time to Sell?

Shares of CBIZ, Inc. (NYSE:CBZ) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $33.60 and last traded at $34.2570, with a volume of 1790747 shares. The stock had previously closed at $38.27.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CBZ. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CBIZ in a research note on Wednesday, January 21st. CJS Securities upgraded shares of CBIZ to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of CBIZ in a report on Monday, January 12th. They issued a “hold” rating and a $60.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, CBIZ has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

CBIZ Trading Down 10.5%

The company has a debt-to-equity ratio of 0.80, a current ratio of 1.57 and a quick ratio of 1.57. The business has a fifty day moving average of $48.52 and a 200-day moving average of $54.12. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 22.54 and a beta of 0.92.

Insider Buying and Selling

In other CBIZ news, Director Benaree Pratt Wiley sold 8,288 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $49.54, for a total value of $410,587.52. Following the transaction, the director owned 35,956 shares of the company’s stock, valued at approximately $1,781,260.24. This represents a 18.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brad S. Lakhia acquired 2,060 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were bought at an average price of $48.51 per share, with a total value of $99,930.60. Following the transaction, the chief financial officer directly owned 40,584 shares in the company, valued at approximately $1,968,729.84. The trade was a 5.35% increase in their position. The SEC filing for this purchase provides additional information. 4.95% of the stock is owned by insiders.

Institutional Investors Weigh In On CBIZ

A number of institutional investors and hedge funds have recently modified their holdings of the stock. WCM Investment Management LLC acquired a new stake in shares of CBIZ in the third quarter worth $15,011,000. Montrusco Bolton Investments Inc. acquired a new position in CBIZ during the second quarter valued at $16,736,000. Y Intercept Hong Kong Ltd purchased a new stake in CBIZ in the 3rd quarter worth about $3,895,000. Campbell & CO Investment Adviser LLC acquired a new stake in CBIZ during the 3rd quarter worth about $1,205,000. Finally, Norges Bank purchased a new position in CBIZ during the 2nd quarter valued at about $1,842,000. 87.44% of the stock is owned by institutional investors and hedge funds.

CBIZ Company Profile

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.