CBIZ (NYSE:CBZ) Issues Quarterly Earnings Results, Beats Estimates By $0.07 EPS

CBIZ (NYSE:CBZ – Get Rating) announced its quarterly earnings data on Thursday. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.07, MarketWatch Earnings reports. CBIZ had a return on equity of 12.48% and a net margin of 6.42%. The firm had revenue of $391.70 million for the quarter, compared to analysts’ expectations of $367.46 million. During the same period last year, the business posted $0.92 earnings per share. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. CBIZ updated its FY22 guidance to $1.99-$2.03 EPS.

CBZ stock opened at $42.55 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 32.73 and a beta of 0.73. CBIZ has a 1 year low of $30.68 and a 1 year high of $44.17. The stock’s fifty day moving average is $40.51 and its two-hundred day moving average is $38.95.

Several equities analysts recently issued reports on CBZ shares. Zacks Investment Research cut CBIZ from a “buy” rating to a “hold” rating in a research note on Tuesday, April 19th. William Blair reiterated an “outperform” rating on shares of CBIZ in a research note on Wednesday, March 9th. Finally, StockNews.com began coverage on CBIZ in a research note on Thursday, March 31st. They issued a “hold” rating on the stock.

In related news, insider Michael P. Kouzelos sold 9,729 shares of CBIZ stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $39.32, for a total transaction of $382,544.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael P. Kouzelos sold 5,936 shares of CBIZ stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $39.09, for a total transaction of $232,038.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,222 shares of company stock worth $936,585. Company insiders own 6.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in CBIZ by 66.1% during the fourth quarter. Barclays PLC now owns 59,500 shares of the business services provider’s stock worth $2,328,000 after acquiring an additional 23,675 shares during the period. Goldman Sachs Group Inc. grew its holdings in CBIZ by 8.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 296,367 shares of the business services provider’s stock worth $11,593,000 after acquiring an additional 22,516 shares during the period. Deutsche Bank AG grew its holdings in CBIZ by 2.0% during the fourth quarter. Deutsche Bank AG now owns 32,249 shares of the business services provider’s stock worth $1,261,000 after acquiring an additional 624 shares during the period. California State Teachers Retirement System grew its holdings in CBIZ by 0.7% during the fourth quarter. California State Teachers Retirement System now owns 66,693 shares of the business services provider’s stock worth $2,609,000 after acquiring an additional 491 shares during the period. Finally, Parametric Portfolio Associates LLC grew its holdings in CBIZ by 2.5% during the fourth quarter. Parametric Portfolio Associates LLC now owns 177,824 shares of the business services provider’s stock worth $6,956,000 after acquiring an additional 4,326 shares during the period.

CBIZ Company Profile (Get Rating)

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. The company operates through three segments: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.

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