CBIZ (NYSE:CBZ) released its quarterly earnings data on Wednesday. The business services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.05, Briefing.com reports. CBIZ had a net margin of 7.18% and a return on equity of 11.02%. The company had revenue of $235.50 million during the quarter, compared to the consensus estimate of $243.01 million. During the same period in the previous year, the firm earned $0.23 earnings per share. CBIZ’s revenue for the quarter was up 1.2% on a year-over-year basis. CBIZ updated its FY 2019 guidance to $1.20-1.22 EPS.
CBZ traded up $0.16 during trading on Friday, hitting $23.28. 224,892 shares of the company’s stock were exchanged, compared to its average volume of 215,665. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.51. CBIZ has a 1 year low of $18.64 and a 1 year high of $24.38. The stock’s 50 day moving average is $20.76. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 19.64 and a beta of 0.34.
Separately, Zacks Investment Research upgraded shares of CBIZ from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Friday.
In other CBIZ news, insider Ware H. Grove sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 273,096 shares in the company, valued at $5,603,929.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ware H. Grove sold 20,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 283,096 shares of the company’s stock, valued at $5,809,129.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,000 shares of company stock valued at $656,420. 7.40% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CBZ. DekaBank Deutsche Girozentrale acquired a new stake in CBIZ in the second quarter valued at $37,000. Quantamental Technologies LLC raised its holdings in shares of CBIZ by 40.9% during the first quarter. Quantamental Technologies LLC now owns 3,100 shares of the business services provider’s stock worth $63,000 after purchasing an additional 900 shares during the period. SG Americas Securities LLC raised its holdings in shares of CBIZ by 21.2% during the second quarter. SG Americas Securities LLC now owns 8,439 shares of the business services provider’s stock worth $165,000 after purchasing an additional 1,478 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in shares of CBIZ by 8.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 10,117 shares of the business services provider’s stock worth $204,000 after purchasing an additional 801 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of CBIZ by 260.7% during the first quarter. BNP Paribas Arbitrage SA now owns 10,744 shares of the business services provider’s stock worth $217,000 after purchasing an additional 7,765 shares during the period. Institutional investors own 86.96% of the company’s stock.
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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