CBIZ (NYSE:CBZ) Shares Down 6.7% – Time to Sell?

CBIZ, Inc. (NYSE:CBZ) shares were down 6.7% on Thursday . The company traded as low as $70.18 and last traded at $72.04. Approximately 66,140 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 332,180 shares. The stock had previously closed at $77.24.

Analyst Upgrades and Downgrades

CBZ has been the topic of several research analyst reports. William Blair reaffirmed an “outperform” rating on shares of CBIZ in a research note on Friday. StockNews.com lowered shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th.

CBIZ Stock Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 1.49. The stock’s 50 day simple moving average is $75.21 and its two-hundred day simple moving average is $77.86. The stock has a market cap of $3.58 billion, a P/E ratio of 28.06 and a beta of 0.90.

CBIZ (NYSE:CBZ) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.16. The firm had revenue of $838.01 million for the quarter, compared to analyst estimates of $860.25 million. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. During the same period last year, the firm posted $1.54 earnings per share. As a group, research analysts forecast that CBIZ, Inc. will post 2.65 EPS for the current year.

Insider Buying and Selling

In related news, Director Benaree Pratt Wiley sold 6,526 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $71.75, for a total transaction of $468,240.50. Following the completion of the transaction, the director now owns 41,759 shares of the company’s stock, valued at $2,996,208.25. This trade represents a 13.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CBIZ

Several institutional investors have recently made changes to their positions in the business. Arizona State Retirement System increased its holdings in CBIZ by 1.0% during the fourth quarter. Arizona State Retirement System now owns 13,112 shares of the business services provider’s stock valued at $1,073,000 after buying an additional 125 shares during the last quarter. Corient Private Wealth LLC lifted its position in CBIZ by 1.4% during the fourth quarter. Corient Private Wealth LLC now owns 9,510 shares of the business services provider’s stock valued at $778,000 after purchasing an additional 128 shares in the last quarter. Kensington Investment Counsel LLC grew its holdings in CBIZ by 0.7% during the fourth quarter. Kensington Investment Counsel LLC now owns 20,211 shares of the business services provider’s stock valued at $1,654,000 after purchasing an additional 132 shares during the period. SG Americas Securities LLC increased its position in CBIZ by 7.2% in the fourth quarter. SG Americas Securities LLC now owns 2,536 shares of the business services provider’s stock worth $208,000 after buying an additional 170 shares in the last quarter. Finally, Huntington National Bank raised its stake in shares of CBIZ by 9.4% in the fourth quarter. Huntington National Bank now owns 2,220 shares of the business services provider’s stock worth $182,000 after buying an additional 191 shares during the period. Institutional investors own 87.44% of the company’s stock.

About CBIZ

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.