Jupiter Topco LLC purchased a new position in shares of CBIZ, Inc. (NYSE:CBZ – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 21,663 shares of the business services provider’s stock, valued at approximately $695,000.
Other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in CBIZ by 6.2% during the 1st quarter. AQR Capital Management LLC now owns 11,725 shares of the business services provider’s stock worth $889,000 after acquiring an additional 682 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CBIZ by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,294 shares of the business services provider’s stock worth $2,222,000 after purchasing an additional 1,318 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of CBIZ by 5.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,270 shares of the business services provider’s stock worth $10,868,000 after purchasing an additional 7,676 shares during the period. Jane Street Group LLC grew its position in CBIZ by 96.1% in the 1st quarter. Jane Street Group LLC now owns 41,240 shares of the business services provider’s stock valued at $3,128,000 after buying an additional 20,214 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in CBIZ by 80.4% in the 2nd quarter. Prudential Financial Inc. now owns 6,637 shares of the business services provider’s stock valued at $492,000 after buying an additional 2,957 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on CBZ. 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 price objective for the company. Weiss Ratings upgraded shares of CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. US Capital Advisors set a $55.00 price target on shares of CBIZ in a report on Thursday, July 30th. Finally, CJS Securities downgraded shares of CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 price objective for the company. in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $44.50.
CBIZ Stock Performance
Shares of CBZ opened at $54.86 on Monday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. CBIZ, Inc. has a 52-week low of $24.29 and a 52-week high of $60.19. The company has a 50-day simple moving average of $47.78 and a 200-day simple moving average of $36.15. The company has a market capitalization of $2.98 billion, a PE ratio of 25.64, a P/E/G ratio of 1.15 and a beta of 0.92.
CBIZ (NYSE:CBZ – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The business services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.19. CBIZ had a net margin of 4.73% and a return on equity of 12.33%. The firm had revenue of $682.21 million for the quarter, compared to the consensus estimate of $697.96 million. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The firm’s revenue was down .2% on a year-over-year basis. Equities research analysts predict that CBIZ, Inc. will post 4.1 earnings per share for the current fiscal 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.
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