CBIZ (NYSE:CBZ) Upgraded to “Hold” at StockNews.com

CBIZ (NYSE:CBZ) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

CBIZ Stock Performance

Shares of NYSE CBZ opened at $82.72 on Friday. 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 firm has a market cap of $4.15 billion, a price-to-earnings ratio of 35.05 and a beta of 0.95. The stock’s fifty day moving average price is $77.01 and its two-hundred day moving average price is $73.82. CBIZ has a one year low of $60.59 and a one year high of $86.36.

CBIZ (NYSE:CBZ) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. CBIZ had a net margin of 7.08% and a return on equity of 15.12%. The business had revenue of $438.90 million for the quarter, compared to analyst estimates of $440.16 million. During the same period last year, the firm earned $0.66 earnings per share. CBIZ’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that CBIZ will post 2.65 EPS for the current year.

Hedge Funds Weigh In On CBIZ

Several hedge funds and other institutional investors have recently modified their holdings of CBZ. Retirement Systems of Alabama lifted its position in shares of CBIZ by 10.3% during the 3rd quarter. Retirement Systems of Alabama now owns 86,194 shares of the business services provider’s stock worth $5,800,000 after buying an additional 8,032 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of CBIZ by 22.2% in the 3rd quarter. Victory Capital Management Inc. now owns 47,943 shares of the business services provider’s stock valued at $3,226,000 after purchasing an additional 8,695 shares in the last quarter. Cannon Global Investment Management LLC bought a new stake in shares of CBIZ during the 3rd quarter valued at approximately $740,000. Quantbot Technologies LP increased its position in CBIZ by 960.9% during the 3rd quarter. Quantbot Technologies LP now owns 38,850 shares of the business services provider’s stock worth $2,614,000 after purchasing an additional 35,188 shares in the last quarter. Finally, Artemis Investment Management LLP lifted its stake in CBIZ by 22.8% in the 3rd quarter. Artemis Investment Management LLP now owns 332,534 shares of the business services provider’s stock valued at $22,376,000 after purchasing an additional 61,754 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

CBIZ Company Profile

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.