UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of CBIZ, Inc. (NYSE:CBZ – Free Report) by 14.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,392 shares of the business services provider’s stock after selling 15,975 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.17% of CBIZ worth $3,028,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC bought a new position in shares of CBIZ during the 2nd quarter valued at about $1,340,000. United Capital Financial Advisors LLC bought a new stake in shares of CBIZ in the 2nd quarter worth approximately $491,000. Public Employees Retirement System of Ohio acquired a new stake in CBIZ during the second quarter valued at approximately $31,000. Corient Private Wealth LP bought a new stake in CBIZ during the second quarter worth approximately $5,385,000. Finally, Bank of America Corp DE bought a new stake in CBIZ during the second quarter worth approximately $7,194,000. 87.44% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have issued reports on CBZ. US Capital Advisors set a $55.00 price target on CBIZ in a report on Thursday, July 30th. Barrington Research began coverage on CBIZ in a research note on Wednesday, June 24th. They set an “outperform” rating and a $45.00 price objective for the company. CJS Securities cut CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 target price on the stock. in a report on Thursday, July 30th. Finally, Weiss Ratings raised CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $44.50.
CBIZ Stock Performance
Shares of CBZ opened at $54.62 on Friday. CBIZ, Inc. has a one year low of $24.29 and a one year high of $58.17. The company has a 50-day moving average of $49.48 and a two-hundred day moving average of $36.87. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 1.15 and a beta of 0.92. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.47.
CBIZ (NYSE:CBZ – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 4.73% and a return on equity of 12.33%. The firm’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 earnings per share. On average, equities research analysts expect that CBIZ, Inc. will post 4.1 earnings per share for the current year.
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.
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