Trading Report: The Zacks: CBIZ Inc. (NYSE:CBZ) Receives Consensus Recommendation of “Buy” from Brokerages

The Zacks: CBIZ Inc. (NYSE:CBZ) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of CBIZ Inc. (NYSE:CBZ) have been assigned an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has given a strong buy rating to the company. CBIZ’s rating score has improved by 33.3% from 90 days ago as a result of various analysts’ ratings changes.

Brokers have set a 1-year consensus price target of $11.75 for the company and are forecasting that the company will post $0.20 EPS for the current quarter, according to Zacks. Zacks has also assigned CBIZ an industry rank of 109 out of 265 based on the ratings given to related companies.

Several equities research analysts recently issued reports on CBZ shares. Zacks Investment Research downgraded shares of CBIZ from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Sidoti started coverage on shares of CBIZ in a report on Tuesday, July 19th. They set a “buy” rating for the company.

In other CBIZ news, CEO Jerome P. Grisko sold 9,090 shares of the firm’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $11.08, for a total transaction of $100,717.20. Following the completion of the transaction, the chief executive officer now directly owns 519,074 shares of the company’s stock, valued at approximately $5,751,339.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven L. Gerard sold 28,784 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $11.42, for a total transaction of $328,713.28. Following the transaction, the director now directly owns 385,756 shares of the company’s stock, valued at $4,405,333.52. The disclosure for this sale can be found here. Company insiders own 7.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Aperio Group LLC raised its position in CBIZ by 12.9% in the first quarter. Aperio Group LLC now owns 33,676 shares of the company’s stock valued at $340,000 after buying an additional 3,861 shares during the period. TIAA CREF Investment Management LLC raised its position in CBIZ by 69.9% in the first quarter. TIAA CREF Investment Management LLC now owns 375,584 shares of the company’s stock valued at $3,790,000 after buying an additional 154,562 shares during the period. JPMorgan Chase & Co. raised its position in CBIZ by 5.8% in the first quarter. JPMorgan Chase & Co. now owns 133,392 shares of the company’s stock valued at $1,346,000 after buying an additional 7,264 shares during the period. Magnetar Financial LLC acquired a new position in CBIZ during the first quarter valued at approximately $290,000. Finally, Barclays PLC raised its position in CBIZ by 278.2% in the first quarter. Barclays PLC now owns 207,670 shares of the company’s stock valued at $2,076,000 after buying an additional 152,754 shares during the period. 84.62% of the stock is owned by institutional investors.

CBIZ (NYSE:CBZ) opened at 11.05 on Wednesday. The stock has a market capitalization of $580.13 million, a PE ratio of 15.56 and a beta of 0.69. CBIZ has a 12-month low of $9.30 and a 12-month high of $11.82. The company’s 50-day moving average is $11.29 and its 200 day moving average is $10.69.

CBIZ (NYSE:CBZ) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.01. CBIZ had a return on equity of 11.75% and a net margin of 4.94%. The firm had revenue of $197 million for the quarter, compared to analysts’ expectations of $198.70 million. During the same period last year, the firm earned $0.13 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts predict that CBIZ will post $0.75 EPS for the current year.

CBIZ Company Profile

CBIZ, Inc is engaged in providing professional business services, products and solutions to businesses, as well as individuals, governmental entities and not-for-profit enterprises, throughout the United States and parts of Canada. The Company’s business units are aggregated into three practice groups: Financial Services, National Practices and Employee Services.

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