CBIZ (NYSE:CBZ) Cut to Hold at Barrington Research

Barrington Research lowered shares of CBIZ (NYSE:CBZ) from an outperform rating to a hold rating in a research report released on Wednesday morning, MarketBeat reports.

Other equities research analysts also recently issued reports about the stock. US Capital Advisors set a $55.00 target price on shares of CBIZ in a research note on Thursday, July 30th. CJS Securities lowered CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 price objective for the company. in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.50.

CBIZ Stock Up 0.1%

Shares of NYSE CBZ opened at $54.65 on Wednesday. CBIZ has a 1 year low of $24.29 and a 1 year high of $56.93. The firm has a 50-day simple moving average of $51.66 and a two-hundred day simple moving average of $37.90. The company has a market cap of $2.97 billion, a P/E ratio of 25.54, a PEG ratio of 1.31 and a beta of 0.92. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.47.

CBIZ (NYSE:CBZ) last issued its earnings results on Wednesday, July 29th. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $682.21 million during the quarter, compared to analyst estimates of $697.96 million. During the same period in the previous year, the firm earned $0.95 earnings per share. The business’s revenue was down .2% on a year-over-year basis. Research analysts anticipate that CBIZ will post 4.17 earnings per share for the current year.

Hedge Funds Weigh In On CBIZ

Large investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC lifted its holdings in CBIZ by 0.7% in the 2nd quarter. HighTower Advisors LLC now owns 30,581 shares of the business services provider’s stock valued at $981,000 after purchasing an additional 213 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of CBIZ by 18.3% during the second quarter. Parkside Financial Bank & Trust now owns 1,629 shares of the business services provider’s stock worth $52,000 after buying an additional 252 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of CBIZ by 10.5% during the first quarter. PNC Financial Services Group Inc. now owns 4,540 shares of the business services provider’s stock worth $122,000 after buying an additional 430 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of CBIZ by 15.7% during the second quarter. Versant Capital Management Inc now owns 3,495 shares of the business services provider’s stock worth $112,000 after buying an additional 473 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of CBIZ by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 9,032 shares of the business services provider’s stock valued at $456,000 after buying an additional 582 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

About CBIZ

CBIZ, Inc (NYSE: CBZ) is a diversified professional services company that provides accounting, tax, advisory, insurance brokerage, and employee benefits services to businesses, nonprofit organizations, government entities, and individuals. The company serves clients across a range of industries, including healthcare, construction, manufacturing, real estate, financial services, and professional services.

Its accounting and advisory offerings include audit and attest services, tax planning and compliance, financial reporting, valuation, transaction advisory, forensic accounting, and business consulting.