CBIZ, Inc. (NYSE:CBZ)’s share price hit a new 52-week high and low during mid-day trading on Wednesday . The company traded as low as $20.40 and last traded at $20.35, with a volume of 360930 shares. The stock had previously closed at $20.00.
CBZ has been the topic of a number of research reports. Zacks Investment Research upgraded shares of CBIZ from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, February 21st. ValuEngine lowered shares of CBIZ from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd.
The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a market capitalization of $1.12 billion, a PE ratio of 23.51 and a beta of 0.71.
CBIZ (NYSE:CBZ) last posted its quarterly earnings results on Thursday, April 26th. The business services provider reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.06. The business had revenue of $266.10 million during the quarter, compared to the consensus estimate of $254.43 million. CBIZ had a net margin of 6.97% and a return on equity of 11.01%. CBIZ’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 earnings per share. equities research analysts expect that CBIZ, Inc. will post 1.1 EPS for the current fiscal year.
CBIZ announced that its board has authorized a share buyback program on Wednesday, February 14th that allows the company to buyback 5,000,000 shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In related news, insider Ware H. Grove sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $18.35, for a total transaction of $458,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of CBIZ during the first quarter worth approximately $182,000. Koch Industries Inc. bought a new stake in CBIZ in the fourth quarter valued at approximately $158,000. Gotham Asset Management LLC bought a new stake in CBIZ in the fourth quarter valued at approximately $161,000. Ladenburg Thalmann Financial Services Inc. increased its stake in CBIZ by 2,874.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,529 shares of the business services provider’s stock valued at $162,000 after purchasing an additional 10,175 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in CBIZ in the first quarter valued at approximately $264,000. 85.22% of the stock is owned by institutional investors and hedge funds.
CBIZ, Inc, through its subsidiaries, provides professional business services, products, and solutions in the United States and Canada. It offers its services through three practice groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services practice group provides accounting and tax compliance and consulting, government health care consulting, financial advisory, valuation, litigation support, risk and advisory, real estate consulting, and internal audit outsourcing services.
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