CBIZ (NYSE:CBZ) Given Market Perform Rating at Barrington Research

Key Points

• Barrington Research reaffirmed its “Market Perform” rating on CBIZ, while the broader analyst consensus remains “Hold.” The average price target is $44.50, below the stock’s reported $54.62 price.
• CBIZ reported quarterly EPS of $0.91, beating the $0.72 analyst consensus, although revenue of $682.21 million fell short of estimates and declined slightly year over year.
• Institutional investors own approximately 87.44% of CBIZ shares, with several funds recently initiating or increasing positions.

CBIZ (NYSE:CBZ - Get Free Report)'s stock had its "market perform" rating reaffirmed by research analysts at Barrington Research in a report issued on Wednesday, Benzinga reports.

Several other brokerages also recently commented on CBZ. Weiss Ratings raised shares of CBIZ from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. CJS Securities cut CBIZ from a "market outperform" rating to a "market perform" rating and set a $55.00 price target on the stock. in a report on Thursday, July 30th. Finally, US Capital Advisors set a $55.00 price objective on shares of CBIZ in a research report on Thursday, July 30th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $44.50.

CBIZ Stock Down 0.1%

CBIZ stock opened at $54.62 on Wednesday. The firm has a 50 day simple moving average of $50.61 and a 200 day simple moving average of $37.44. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.74. CBIZ has a 1-year low of $24.29 and a 1-year high of $57.51. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 1.33 and a beta of 0.92.

CBIZ (NYSE:CBZ - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.19. The company had revenue of $682.21 million for the quarter, compared to analyst estimates of $697.96 million. CBIZ had a return on equity of 12.33% and a net margin of 4.73%.The firm's revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 EPS. On average, analysts predict that CBIZ will post 4.1 earnings per share for the current year.

Hedge Funds Weigh In On CBIZ

Several hedge funds and other institutional investors have recently modified their holdings of CBZ. Integrated Wealth Concepts LLC bought a new position in CBIZ during the 2nd quarter valued at approximately $69,000. Allworth Financial LP grew its position in shares of CBIZ by 184.7% in the 2nd quarter. Allworth Financial LP now owns 2,568 shares of the business services provider's stock worth $82,000 after buying an additional 1,666 shares during the last quarter. Arizona State Retirement System increased its stake in shares of CBIZ by 6.6% during the second quarter. Arizona State Retirement System now owns 14,369 shares of the business services provider's stock valued at $461,000 after buying an additional 891 shares during the period. Nykredit A S purchased a new position in shares of CBIZ during the second quarter valued at approximately $55,000. Finally, Parkside Financial Bank & Trust raised its holdings in shares of CBIZ by 18.3% during the second quarter. Parkside Financial Bank & Trust now owns 1,629 shares of the business services provider's stock valued at $52,000 after acquiring an additional 252 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

About CBIZ

CBIZ, Inc NYSE: CBZ is a diversified professional services company that provides accounting, tax, advisory, insurance brokerage, and employee benefits services to businesses, nonprofit organizations, government entities, and individuals. The company serves clients across a range of industries, including healthcare, construction, manufacturing, real estate, financial services, and professional services.

Its accounting and advisory offerings include audit and attest services, tax planning and compliance, financial reporting, valuation, transaction advisory, forensic accounting, and business consulting.

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