Inspire Investing LLC cut its holdings in shares of CBIZ, Inc. (NYSE:CBZ – Free Report) by 44.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,613 shares of the business services provider’s stock after selling 9,413 shares during the period. Inspire Investing LLC’s holdings in CBIZ were worth $635,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of CBZ. Cygnus Capital Advisors LLC purchased a new stake in CBIZ during the 2nd quarter valued at $5,236,000. Quantinno Capital Management LP lifted its holdings in CBIZ by 543.8% during the first quarter. Quantinno Capital Management LP now owns 175,005 shares of the business services provider’s stock valued at $4,699,000 after purchasing an additional 147,820 shares in the last quarter. Hsbc Holdings PLC bought a new position in CBIZ in the 2nd quarter worth $1,340,000. Great Lakes Advisors LLC purchased a new stake in shares of CBIZ during the second quarter worth about $1,142,000. Finally, Bank of New York Mellon Corp raised its position in shares of CBIZ by 17.8% during the first quarter. Bank of New York Mellon Corp now owns 166,787 shares of the business services provider’s stock valued at $4,478,000 after buying an additional 25,214 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages recently weighed in on CBZ. Barrington Research cut shares of CBIZ from an “outperform” rating to a “hold” rating in a research report on Wednesday, September 16th. Weiss Ratings raised CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. CJS Securities lowered CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 price target for the company. in a research note on Thursday, July 30th. William Blair cut CBIZ from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 23rd. Finally, US Capital Advisors set a $55.00 price objective on CBIZ in a research report on Thursday, July 30th. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, CBIZ presently has an average rating of “Hold” and an average price target of $44.50.
Check Out Our Latest Stock Analysis on CBZ
CBIZ Stock Performance
CBZ opened at $54.98 on Friday. The firm’s 50-day moving average price is $54.73 and its 200-day moving average price is $40.32. CBIZ, Inc. has a 52-week low of $24.29 and a 52-week high of $56.41. 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 company has a market cap of $2.98 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 1.32 and a beta of 0.91.
CBIZ (NYSE:CBZ – Get Free Report) last issued its earnings results on Monday, October 19th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.07). CBIZ had a return on equity of 12.85% and a net margin of 5.33%. The business had revenue of $702.24 million for the quarter, compared to analysts’ expectations of $727.08 million. During the same period last year, the business earned $1.01 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities analysts anticipate that CBIZ, Inc. will post 4.17 EPS for the current fiscal year.
CBIZ Profile
CBIZ, Inc is a professional services company that provides accounting, tax, advisory and business consulting services to businesses, individuals and nonprofit organizations. Its offerings include financial reporting, tax planning and compliance, valuation, transaction support, internal audit and risk-management consulting.
The company has also provided employee and insurance services, including employee benefits consulting, payroll and human resources support, property and casualty insurance brokerage, retirement plan services and risk-management solutions.
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