Shares of CBIZ, Inc. (NYSE:CBZ) have earned a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Zacks has also assigned CBIZ an industry rank of 98 out of 265 based on the ratings given to related companies.
Several analysts recently weighed in on CBZ shares. Zacks Investment Research raised shares of CBIZ from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Wednesday, February 21st. ValuEngine cut shares of CBIZ from a “buy” rating to a “hold” rating in a report on Friday, December 1st.
CBIZ (NYSE:CBZ) last issued its earnings results on Thursday, February 15th. The business services provider reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.03. The firm had revenue of $195.00 million for the quarter, compared to analysts’ expectations of $191.40 million. CBIZ had a net margin of 5.89% and a return on equity of 9.28%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) earnings per share. equities research analysts forecast that CBIZ will post 1.05 EPS for the current year.
CBIZ announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 14th that permits the company to repurchase 5,000,000 outstanding shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Ware H. Grove sold 25,000 shares of the firm’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 value of $458,750.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Steven L. Gerard sold 109,947 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $18.13, for a total transaction of $1,993,339.11. Following the completion of the transaction, the director now owns 346,976 shares in the company, valued at $6,290,674.88. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in CBIZ by 2.2% in the third quarter. Bank of New York Mellon Corp now owns 380,689 shares of the business services provider’s stock valued at $6,186,000 after purchasing an additional 8,373 shares during the last quarter. ClariVest Asset Management LLC increased its stake in CBIZ by 3.4% in the third quarter. ClariVest Asset Management LLC now owns 609,568 shares of the business services provider’s stock valued at $9,905,000 after purchasing an additional 19,993 shares during the last quarter. Macquarie Group Ltd. purchased a new position in CBIZ in the third quarter valued at approximately $365,000. Cubist Systematic Strategies LLC purchased a new position in CBIZ in the third quarter valued at approximately $293,000. Finally, Dimensional Fund Advisors LP increased its stake in CBIZ by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 4,607,232 shares of the business services provider’s stock valued at $74,868,000 after purchasing an additional 35,292 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.
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CBIZ Company Profile
CBIZ, Inc (CBIZ) is engaged in the professional services business. The Company operates its professional services business through acquiring and integrating accounting and financial service providers, group health benefits consulting firms, property and casualty brokerage firms, payroll service providers, and valuation and other service firms throughout the United States.
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