Basswood Capital Management L.L.C. Acquires New Position in CBIZ, Inc. $CBZ

Basswood Capital Management L.L.C. bought a new position in CBIZ, Inc. (NYSE:CBZ) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 451,259 shares of the business services provider’s stock, valued at approximately $14,476,000.

Other large investors have also bought and sold shares of the company. AQR Capital Management LLC grew its holdings in shares of CBIZ by 6.2% during the first quarter. AQR Capital Management LLC now owns 11,725 shares of the business services provider’s stock valued at $889,000 after buying an additional 682 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in CBIZ by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,294 shares of the business services provider’s stock worth $2,222,000 after acquiring an additional 1,318 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in CBIZ by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,270 shares of the business services provider’s stock valued at $10,868,000 after acquiring an additional 7,676 shares in the last quarter. Jane Street Group LLC lifted its position in CBIZ by 96.1% in the 1st quarter. Jane Street Group LLC now owns 41,240 shares of the business services provider’s stock valued at $3,128,000 after acquiring an additional 20,214 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in CBIZ by 80.4% during the 2nd quarter. Prudential Financial Inc. now owns 6,637 shares of the business services provider’s stock valued at $492,000 after purchasing an additional 2,957 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

CBIZ Stock Up 0.0%

Shares of CBIZ stock opened at $54.77 on Thursday. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 1.15 and a beta of 0.93. The company’s 50 day moving average is $44.43 and its 200 day moving average is $35.01. CBIZ, Inc. has a twelve month low of $24.29 and a twelve month high of $66.22. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.74.

CBIZ (NYSE:CBZ) last posted its earnings results on Wednesday, July 29th. The business services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.19. CBIZ had a net margin of 4.73% and a return on equity of 12.33%. The business had revenue of $682.21 million during the quarter, compared to the consensus estimate of $697.96 million. During the same quarter in the previous year, the firm posted $0.95 EPS. The firm’s revenue was down .2% on a year-over-year basis. Research analysts anticipate that CBIZ, Inc. will post 4.1 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on CBZ shares. Weiss Ratings raised CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. CJS Securities downgraded CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 price target on the stock. in a report on Thursday, July 30th. Barrington Research assumed coverage on CBIZ in a research report on Wednesday, June 24th. They set an “outperform” rating and a $45.00 price objective on the stock. US Capital Advisors set a $55.00 price objective on CBIZ in a report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $42.00 price objective on shares of CBIZ in a report on Thursday, April 30th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, CBIZ presently has an average rating of “Hold” and an average target price of $44.50.

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.