Zacks: CBIZ, Inc. (NYSE:CBZ) Receives Average Recommendation of “Strong Buy” from Analysts

Shares of CBIZ, Inc. (NYSE:CBZ) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Zacks has also assigned CBIZ an industry rank of 48 out of 256 based on the ratings given to its competitors.

Separately, Zacks Investment Research downgraded shares of Gold Resource from a “hold” rating to a “sell” rating in a research report on Friday, June 21st.

In other news, insider Ware H. Grove sold 10,000 shares of CBIZ stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $20.52, for a total transaction of $205,200.00. Following the transaction, the insider now owns 273,096 shares in the company, valued at approximately $5,603,929.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ware H. Grove sold 20,000 shares of CBIZ stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $20.52, for a total transaction of $410,400.00. Following the transaction, the insider now owns 283,096 shares in the company, valued at approximately $5,809,129.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,000 shares of company stock valued at $656,420. 7.40% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of CBZ. Norges Bank purchased a new position in shares of CBIZ during the 4th quarter worth $21,969,000. FMR LLC lifted its stake in shares of CBIZ by 4.2% during the 4th quarter. FMR LLC now owns 8,259,033 shares of the business services provider’s stock valued at $162,703,000 after buying an additional 330,353 shares in the last quarter. BlackRock Inc. lifted its stake in shares of CBIZ by 6.4% during the 4th quarter. BlackRock Inc. now owns 3,988,818 shares of the business services provider’s stock valued at $78,579,000 after buying an additional 239,889 shares in the last quarter. Granite Investment Partners LLC lifted its stake in shares of CBIZ by 18.5% during the 1st quarter. Granite Investment Partners LLC now owns 913,732 shares of the business services provider’s stock valued at $18,494,000 after buying an additional 142,415 shares in the last quarter. Finally, Fenimore Asset Management Inc. lifted its stake in shares of CBIZ by 8.3% during the 2nd quarter. Fenimore Asset Management Inc. now owns 590,085 shares of the business services provider’s stock valued at $11,560,000 after buying an additional 45,430 shares in the last quarter. Institutional investors and hedge funds own 86.87% of the company’s stock.

Shares of CBZ traded up $0.51 on Friday, hitting $22.65. 184,339 shares of the stock traded hands, compared to its average volume of 209,975. The stock has a market cap of $1.24 billion, a P/E ratio of 20.78 and a beta of 0.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a 50 day simple moving average of $20.38. CBIZ has a one year low of $18.64 and a one year high of $24.38.

CBIZ (NYSE:CBZ) last announced its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.01). The firm had revenue of $270.00 million for the quarter, compared to the consensus estimate of $278.78 million. CBIZ had a net margin of 6.82% and a return on equity of 10.52%. CBIZ’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. On average, equities research analysts forecast that CBIZ will post 1.19 earnings per share for the current year.

About CBIZ

CBIZ, Inc provides professional business services, products, and solutions that help its clients in managing finances and employees. It offers its services through three groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services group provides accounting and tax, government healthcare consulting, financial advisory, valuation, and risk and advisory services.

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