Brokerages Anticipate CBIZ, Inc. (CBZ) to Post $0.22 EPS

CBIZ, Inc. (NYSE:CBZ) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Zacks has also given CBIZ an industry rank of 103 out of 255 based on the ratings given to its competitors.

A number of brokerages have recently weighed in on CBZ. Zacks Investment Research downgraded CBIZ from a “buy” rating to a “hold” rating in a report on Friday, June 29th. Sidoti initiated coverage on CBIZ in a report on Tuesday, June 12th. They issued a “buy” rating on the stock. Finally, William Blair initiated coverage on CBIZ in a report on Monday, September 17th. They issued an “outperform” rating on the stock.

Shares of CBZ opened at $23.89 on Monday. The stock has a market capitalization of $1.31 billion, a PE ratio of 27.46 and a beta of 0.61. CBIZ has a fifty-two week low of $14.35 and a fifty-two week high of $24.38. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.46 and a current ratio of 1.46.

CBIZ (NYSE:CBZ) last issued its earnings results on Thursday, August 2nd. The business services provider reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $232.60 million for the quarter, compared to the consensus estimate of $223.86 million. CBIZ had a return on equity of 10.99% and a net margin of 7.04%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. On average, sell-side analysts expect that CBIZ will post 1.08 EPS for the current fiscal year.

In related news, insider Michael W. Gleespen sold 27,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $23.42, for a total value of $632,340.00. Following the transaction, the insider now owns 118,880 shares in the company, valued at $2,784,169.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Spurio sold 35,841 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $23.81, for a total value of $853,374.21. Following the completion of the transaction, the insider now owns 209,917 shares in the company, valued at approximately $4,998,123.77. The disclosure for this sale can be found here. Insiders sold 102,841 shares of company stock worth $2,414,914 in the last 90 days. 7.20% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in CBZ. FMR LLC boosted its position in CBIZ by 49.4% during the second quarter. FMR LLC now owns 6,756,052 shares of the business services provider’s stock worth $155,389,000 after purchasing an additional 2,234,269 shares during the period. BlackRock Inc. boosted its position in CBIZ by 11.0% during the second quarter. BlackRock Inc. now owns 3,701,179 shares of the business services provider’s stock worth $85,129,000 after purchasing an additional 366,511 shares during the period. Renaissance Technologies LLC boosted its position in CBIZ by 20.3% during the second quarter. Renaissance Technologies LLC now owns 1,007,126 shares of the business services provider’s stock worth $23,164,000 after purchasing an additional 170,200 shares during the period. P2 Capital Partners LLC boosted its position in CBIZ by 5.1% during the first quarter. P2 Capital Partners LLC now owns 2,694,902 shares of the business services provider’s stock worth $49,182,000 after purchasing an additional 129,902 shares during the period. Finally, Private Advisor Group LLC bought a new stake in CBIZ during the second quarter worth approximately $3,013,000. 86.91% of the stock is owned by hedge funds and other institutional investors.

About CBIZ

CBIZ, Inc, through its subsidiaries, provides professional business services, products, and solutions in the United States and Canada. It offers its services through three practice groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services practice group provides accounting and tax compliance and consulting, litigation support, federal and state governmental healthcare compliance, valuation services, real estate consulting, and internal audit outsourcing services.

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