CBIZ (NYSE:CBZ) Lowered to “Neutral” at Sidoti

Sidoti lowered shares of CBIZ (NYSE:CBZ) from a buy rating to a neutral rating in a research note released on Tuesday, MarketBeat Ratings reports. Sidoti currently has $58.00 price objective on the business services provider’s stock.

Separately, StockNews.com assumed coverage on CBIZ in a report on Thursday, August 17th. They issued a hold rating for the company.

CBIZ Stock Performance

NYSE:CBZ opened at $53.72 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.37 and a current ratio of 1.37. CBIZ has a fifty-two week low of $42.23 and a fifty-two week high of $56.96. The firm has a market cap of $2.68 billion, a PE ratio of 24.91 and a beta of 0.74. The business has a 50 day moving average price of $54.10 and a 200-day moving average price of $51.79.

CBIZ (NYSE:CBZ) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.13). The firm had revenue of $398.50 million for the quarter, compared to analysts’ expectations of $392.37 million. CBIZ had a net margin of 7.67% and a return on equity of 15.52%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 EPS. Equities research analysts predict that CBIZ will post 2.4 earnings per share for the current year.

Insider Buying and Selling at CBIZ

In other CBIZ news, insider Ware H. Grove sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $54.55, for a total transaction of $1,091,000.00. Following the completion of the sale, the insider now directly owns 274,524 shares of the company’s stock, valued at $14,975,284.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Ware H. Grove sold 20,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $54.55, for a total value of $1,091,000.00. Following the completion of the sale, the insider now directly owns 274,524 shares of the company’s stock, valued at $14,975,284.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Benaree Pratt Wiley sold 7,519 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $54.01, for a total transaction of $406,101.19. Following the transaction, the director now directly owns 45,252 shares of the company’s stock, valued at $2,444,060.52. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On CBIZ

Several institutional investors and hedge funds have recently added to or reduced their stakes in CBZ. Commerce Bank raised its stake in CBIZ by 74.2% in the 1st quarter. Commerce Bank now owns 17,459 shares of the business services provider’s stock worth $864,000 after acquiring an additional 7,435 shares during the last quarter. Bleakley Financial Group LLC purchased a new position in CBIZ during the fourth quarter worth about $261,000. Neumeier Poma Investment Counsel LLC raised its holdings in shares of CBIZ by 199.7% in the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 566,490 shares of the business services provider’s stock valued at $26,540,000 after buying an additional 377,455 shares during the period. Swiss National Bank increased its holdings in shares of CBIZ by 0.4% in the 4th quarter. Swiss National Bank now owns 111,700 shares of the business services provider’s stock valued at $5,233,000 after acquiring an additional 400 shares during the last quarter. Finally, Laurus Investment Counsel Inc. raised its holdings in CBIZ by 4.4% during the first quarter. Laurus Investment Counsel Inc. now owns 55,270 shares of the business services provider’s stock worth $3,703,859,000 after purchasing an additional 2,340 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

CBIZ Company Profile

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It 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.