CBIZ (NYSE:CBZ) Coverage Initiated at StockNews.com

Analysts at StockNews.com assumed coverage on shares of CBIZ (NYSE:CBZ – Get Rating) in a research note issued on Thursday. The brokerage set a “hold” rating on the business services provider’s stock.

CBIZ Stock Performance

Shares of CBIZ stock opened at $50.50 on Thursday. The firm has a market cap of $2.54 billion, a PE ratio of 21.58 and a beta of 0.76. The firm’s 50-day simple moving average is $49.75 and its 200-day simple moving average is $48.80. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.41 and a current ratio of 1.41. CBIZ has a 1 year low of $37.01 and a 1 year high of $53.47.

CBIZ (NYSE:CBZ – Get Rating) last issued its earnings results on Thursday, April 27th. The business services provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.17. CBIZ had a net margin of 8.16% and a return on equity of 16.24%. The business had revenue of $454.60 million for the quarter, compared to analyst estimates of $432.66 million. During the same quarter in the prior year, the business posted $1.18 EPS. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. Equities analysts forecast that CBIZ will post 2.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CBIZ news, Director Joseph S. Dimartino sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $49.82, for a total value of $498,200.00. Following the sale, the director now owns 30,872 shares in the company, valued at $1,538,043.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Joseph S. Dimartino sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $49.82, for a total transaction of $498,200.00. Following the transaction, the director now owns 30,872 shares in the company, valued at $1,538,043.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph S. Dimartino sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $50.28, for a total transaction of $251,400.00. Following the transaction, the director now owns 25,872 shares in the company, valued at approximately $1,300,844.16. The disclosure for this sale can be found here. Insiders have sold 82,125 shares of company stock valued at $4,224,326 over the last quarter. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On CBIZ

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBZ. MetLife Investment Management LLC boosted its stake in CBIZ by 60.8% in the 1st quarter. MetLife Investment Management LLC now owns 26,273 shares of the business services provider’s stock worth $1,103,000 after purchasing an additional 9,933 shares during the period. Aviva PLC acquired a new stake in shares of CBIZ during the 1st quarter valued at $1,557,000. Vanguard Group Inc. boosted its stake in shares of CBIZ by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 2,551,939 shares of the business services provider’s stock valued at $107,105,000 after buying an additional 23,498 shares during the period. Prudential Financial Inc. bought a new position in shares of CBIZ during the 1st quarter valued at $1,203,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of CBIZ by 2.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 495,903 shares of the business services provider’s stock valued at $20,814,000 after purchasing an additional 13,262 shares in the last quarter. Institutional investors and hedge funds own 88.74% of the company’s stock.

About CBIZ

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CBIZ, Inc engages in the provision of financial, insurance, and advisory services. It operates through the following segments: Financial Services, Benefits and Insurance Services, National Practices, and Corporate and Other. The Financial Services segment offers accounting, tax, government health care consulting, financial advisory, valuation, and risk advisory services.