CBIZ (NYSE:CBZ) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of CBIZ (NYSE:CBZ) from a hold rating to a sell rating in a research note released on Wednesday morning.

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

CBIZ Stock Up 1.0 %

Shares of NYSE CBZ opened at $77.88 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average of $69.49 and a 200 day moving average of $73.02. CBIZ has a 12-month low of $57.01 and a 12-month high of $86.36. The stock has a market cap of $3.91 billion, a PE ratio of 33.00 and a beta of 0.91.

CBIZ (NYSE:CBZ) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. The business 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 earned $0.66 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts predict that CBIZ will post 2.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CBZ. Capital World Investors purchased a new position in shares of CBIZ during the 1st quarter worth $40,590,000. Vanguard Group Inc. lifted its position in CBIZ by 36.3% in the first quarter. Vanguard Group Inc. now owns 3,705,090 shares of the business services provider’s stock valued at $290,850,000 after buying an additional 986,774 shares during the last quarter. Cannon Global Investment Management LLC acquired a new position in shares of CBIZ in the 3rd quarter worth approximately $740,000. Artemis Investment Management LLP boosted its position in shares of CBIZ by 22.8% during the 3rd quarter. Artemis Investment Management LLP now owns 332,534 shares of the business services provider’s stock worth $22,376,000 after purchasing an additional 61,754 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its holdings in CBIZ by 6.6% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 303,096 shares of the business services provider’s stock valued at $23,793,000 after purchasing an additional 18,638 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

CBIZ Company Profile

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.