CBIZ (NYSE:CBZ) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of CBIZ (NYSE:CBZ) from a sell rating to a hold rating in a research report released on Thursday morning.

CBIZ Stock Up 1.3 %

Shares of NYSE CBZ opened at $80.43 on Thursday. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 34.08 and a beta of 0.95. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average is $75.48 and its 200 day moving average is $73.59. CBIZ has a 52 week low of $60.59 and a 52 week high of $86.36.

CBIZ (NYSE:CBZ) last posted its earnings results on Tuesday, October 29th. The business services provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. CBIZ had a net margin of 7.08% and a return on equity of 15.12%. The company had revenue of $438.90 million during the quarter, compared to analyst estimates of $440.16 million. During the same period in the prior year, the business posted $0.66 earnings per share. CBIZ’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts expect that CBIZ will post 2.65 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CBZ. Quest Partners LLC raised its holdings in CBIZ by 2,980.0% in the second quarter. Quest Partners LLC now owns 462 shares of the business services provider’s stock worth $34,000 after buying an additional 447 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of CBIZ by 55.8% in the 3rd quarter. Signaturefd LLC now owns 961 shares of the business services provider’s stock valued at $65,000 after acquiring an additional 344 shares during the last quarter. Quarry LP lifted its holdings in shares of CBIZ by 6,335.3% in the 3rd quarter. Quarry LP now owns 1,094 shares of the business services provider’s stock worth $74,000 after acquiring an additional 1,077 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in CBIZ during the 2nd quarter valued at $82,000. Finally, KBC Group NV grew its stake in CBIZ by 29.7% in the 3rd quarter. KBC Group NV now owns 1,553 shares of the business services provider’s stock worth $105,000 after acquiring an additional 356 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

About CBIZ

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through Financial Services, Benefits and Insurance Services, and National Practices segments. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.