CBIZ (NYSE:CBZ) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

CBIZ, Inc. (NYSE:CBZ) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $74.37 and traded as high as $83.36. CBIZ shares last traded at $82.71, with a volume of 202,809 shares.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of CBIZ from a “sell” rating to a “hold” rating in a report on Friday, December 27th.

CBIZ Stock Performance

The firm has a 50 day moving average of $80.30 and a 200-day moving average of $74.37. The company has a market cap of $4.15 billion, a P/E ratio of 35.05 and a beta of 0.95. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.36.

CBIZ (NYSE:CBZ) last issued its earnings results on Tuesday, October 29th. The business services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. The business had revenue of $438.90 million during the quarter, compared to analysts’ expectations of $440.16 million. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. As a group, sell-side analysts anticipate that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Hedge Funds Weigh In On CBIZ

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in CBIZ by 7.5% during the third quarter. JPMorgan Chase & Co. now owns 704,888 shares of the business services provider’s stock valued at $47,432,000 after purchasing an additional 48,979 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of CBIZ by 25.8% during the third quarter. Principal Financial Group Inc. now owns 27,860 shares of the business services provider’s stock valued at $1,875,000 after buying an additional 5,717 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in shares of CBIZ by 10.3% in the 3rd quarter. Retirement Systems of Alabama now owns 86,194 shares of the business services provider’s stock valued at $5,800,000 after buying an additional 8,032 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of CBIZ in the 3rd quarter worth approximately $262,000. Finally, Geode Capital Management LLC raised its stake in shares of CBIZ by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,109,074 shares of the business services provider’s stock worth $74,644,000 after acquiring an additional 11,615 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

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.