CBIZ (NYSE:CBZ) Rating Increased 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 sent to investors on Tuesday morning.

Separately, Sidoti raised shares of CBIZ from a “neutral” rating to a “buy” rating and raised their price target for the stock from $80.00 to $86.00 in a research report on Monday, August 12th.

CBIZ Stock Performance

CBIZ stock opened at $79.20 on Tuesday. CBIZ has a 12-month low of $57.79 and a 12-month high of $86.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 33.56 and a beta of 0.95. The firm’s fifty day moving average price is $73.38 and its 200 day moving average price is $73.38.

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

Hedge Funds Weigh In On CBIZ

A number of hedge funds have recently bought and sold shares of CBZ. Geneva Capital Management LLC bought a new position in CBIZ during the 3rd quarter worth approximately $19,037,000. Handelsbanken Fonder AB lifted its stake in CBIZ by 2,333.3% during the third quarter. Handelsbanken Fonder AB now owns 292,000 shares of the business services provider’s stock worth $19,649,000 after purchasing an additional 280,000 shares during the last quarter. Blair William & Co. IL boosted its holdings in CBIZ by 134.3% in the second quarter. Blair William & Co. IL now owns 305,016 shares of the business services provider’s stock worth $22,602,000 after purchasing an additional 174,825 shares during the period. FMR LLC boosted its holdings in CBIZ by 27.4% in the third quarter. FMR LLC now owns 594,660 shares of the business services provider’s stock worth $40,015,000 after purchasing an additional 127,822 shares during the period. Finally, Summit Creek Advisors LLC increased its stake in CBIZ by 103.3% during the second quarter. Summit Creek Advisors LLC now owns 216,768 shares of the business services provider’s stock valued at $16,063,000 after purchasing an additional 110,153 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

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.