CBIZ (CBZ) Stock Rating Lowered by Zacks Investment Research

CBIZ (NYSE:CBZ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

According to Zacks, “CBIZ, Inc. provides professional business services that help clients better manage their finances and employees. CBIZ provides its clients with financial services including accounting, tax, financial advisory, government health care consulting, risk advisory, merger and acquisition advisory, real estate consulting, and valuation services. Employee services include employee benefits consulting, property and casualty insurance, retirement plan consulting, payroll, life insurance, HR consulting, and executive recruitment. As one of the nation’s largest brokers of employee benefits and property and casualty insurance, and one of the largest accounting and valuation companies in the United States, the Company’s services are provided through nearly 100 Company offices in 32 states. “

Separately, William Blair assumed coverage on CBIZ in a research report on Monday, September 17th. They issued an “outperform” rating on the stock.

CBZ traded down $0.06 during trading on Monday, reaching $21.03. 150,700 shares of the stock were exchanged, compared to its average volume of 208,951. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 24.17 and a beta of 0.58. CBIZ has a 1 year low of $14.75 and a 1 year high of $24.38.

CBIZ (NYSE:CBZ) last posted its earnings results on Wednesday, October 31st. The business services provider reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. The company had revenue of $224.25 million for the quarter, compared to the consensus estimate of $218.67 million. CBIZ had a return on equity of 11.30% and a net margin of 7.34%. CBIZ’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 earnings per share. On average, analysts predict that CBIZ will post 1.08 EPS for the current fiscal year.

In other news, insider Chris Spurio sold 35,841 shares of the company’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $23.81, for a total value of $853,374.21. Following the sale, the insider now directly owns 209,917 shares in the company, valued at $4,998,123.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.20% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Ramsey Quantitative Systems lifted its position in shares of CBIZ by 38.6% in the third quarter. Ramsey Quantitative Systems now owns 8,850 shares of the business services provider’s stock valued at $210,000 after acquiring an additional 2,467 shares in the last quarter. First Quadrant L P CA purchased a new stake in shares of CBIZ in the third quarter valued at $221,000. Capital Fund Management S.A. purchased a new stake in shares of CBIZ in the third quarter valued at $225,000. Bowling Portfolio Management LLC purchased a new stake in shares of CBIZ in the second quarter valued at $222,000. Finally, Macquarie Group Ltd. lifted its position in shares of CBIZ by 89.6% in the second quarter. Macquarie Group Ltd. now owns 9,976 shares of the business services provider’s stock valued at $229,000 after acquiring an additional 4,715 shares in the last quarter. Institutional investors and hedge funds own 87.41% of the company’s stock.

About CBIZ

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, litigation support, federal and state governmental healthcare compliance, valuation services, real estate consulting, and internal audit outsourcing services.

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