CBIZ (NYSE:CBZ) Hits New 52-Week Low – What’s Next?

Shares of CBIZ, Inc. (NYSE:CBZ) hit a new 52-week low during trading on Monday . The company traded as low as $40.37 and last traded at $40.6950, with a volume of 13143 shares traded. The stock had previously closed at $40.93.

Wall Street Analyst Weigh In

CBZ has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of CBIZ in a report on Monday, January 12th. They issued a “hold” rating and a $60.00 target price on the stock. CJS Securities raised CBIZ to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of CBIZ in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, CBIZ has an average rating of “Moderate Buy” and an average price target of $60.00.

CBIZ Stock Performance

The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 25.64 and a beta of 0.93. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.80. The company’s 50-day simple moving average is $51.05 and its 200-day simple moving average is $56.88.

CBIZ (NYSE:CBZ) last posted its quarterly earnings results on Wednesday, October 29th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.07. The business had revenue of $693.82 million during the quarter, compared to analyst estimates of $709.18 million. CBIZ had a net margin of 3.89% and a return on equity of 14.00%. The firm’s revenue was up 58.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 earnings per share. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. Analysts predict that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Insider Activity

In other news, CFO Brad S. Lakhia acquired 2,060 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were purchased at an average cost of $48.51 per share, with a total value of $99,930.60. Following the completion of the purchase, the chief financial officer owned 40,584 shares of the company’s stock, valued at $1,968,729.84. This represents a 5.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Benaree Pratt Wiley sold 8,288 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $49.54, for a total value of $410,587.52. Following the completion of the transaction, the director directly owned 35,956 shares in the company, valued at approximately $1,781,260.24. This represents a 18.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.95% of the company’s stock.

Hedge Funds Weigh In On CBIZ

Institutional investors have recently modified their holdings of the stock. Durable Capital Partners LP bought a new stake in shares of CBIZ during the third quarter worth $207,872,000. Burgundy Asset Management Ltd. increased its stake in shares of CBIZ by 4.5% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,321,198 shares of the business services provider’s stock valued at $166,453,000 after acquiring an additional 100,932 shares during the last quarter. Geode Capital Management LLC increased its position in shares of CBIZ by 8.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,224,142 shares of the business services provider’s stock valued at $87,794,000 after buying an additional 96,505 shares in the last quarter. State Street Corp grew its position in shares of CBIZ by 4.6% in the 2nd quarter. State Street Corp now owns 1,210,801 shares of the business services provider’s stock valued at $86,827,000 after purchasing an additional 53,099 shares during the period. Finally, BloombergSen Inc. raised its holdings in shares of CBIZ by 9.5% during the second quarter. BloombergSen Inc. now owns 1,119,362 shares of the business services provider’s stock worth $80,269,000 after acquiring an additional 96,982 shares during the period. 87.44% of the stock is owned by institutional investors.

CBIZ Company Profile

CBIZ, Inc (NYSE: CBZ), founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.

Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.