41,460 Shares in CBIZ, Inc. $CBZ Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new stake in shares of CBIZ, Inc. (NYSE:CBZ) in the second quarter, Holdings Channel.com reports. The fund purchased 41,460 shares of the business services provider’s stock, valued at approximately $1,340,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. acquired a new position in CBIZ in the second quarter worth $27,000. Caitong International Asset Management Co. Ltd increased its stake in shares of CBIZ by 377.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 559 shares of the business services provider’s stock valued at $30,000 after buying an additional 442 shares in the last quarter. Strategic Wealth Investment Group LLC acquired a new stake in shares of CBIZ in the second quarter valued at $37,000. EverSource Wealth Advisors LLC increased its stake in shares of CBIZ by 667.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,512 shares of the business services provider’s stock valued at $41,000 after buying an additional 1,315 shares in the last quarter. Finally, Danske Bank A S bought a new position in shares of CBIZ in the third quarter valued at about $42,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CBZ. CJS Securities downgraded shares of CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 price target on the stock. in a research report on Thursday, July 30th. US Capital Advisors set a $55.00 price objective on shares of CBIZ in a research report on Thursday, July 30th. Weiss Ratings raised shares of CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Barrington Research initiated coverage on shares of CBIZ in a research report on Wednesday, June 24th. They set an “outperform” rating and a $45.00 target price on the stock. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $44.50.

CBIZ Trading Down 0.0%

CBZ stock opened at $54.49 on Tuesday. The company has a market cap of $2.96 billion, a P/E ratio of 25.46, a PEG ratio of 1.14 and a beta of 0.92. CBIZ, Inc. has a twelve month low of $24.29 and a twelve month high of $64.90. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. The business has a fifty day moving average of $45.88 and a 200-day moving average of $35.42.

CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.19. The business had revenue of $682.21 million for the quarter, compared to analyst estimates of $697.96 million. CBIZ had a return on equity of 12.33% and a net margin of 4.73%.The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 earnings per share. As a group, equities research analysts expect that CBIZ, Inc. will post 4.1 EPS for the current year.

About CBIZ

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.