CBIZ (NYSE:CBZ) Sees Strong Trading Volume After Earnings Beat

Key Points

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CBIZ, Inc. (NYSE:CBZ - Get Free Report) saw an uptick in trading volume on Thursday after the company announced better than expected quarterly earnings. 467,288 shares changed hands during mid-day trading, an increase of 11% from the previous session's volume of 420,149 shares.The stock last traded at $67.37 and had previously closed at $76.15.

The business services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.11. The firm had revenue of $683.50 million for the quarter, compared to analyst estimates of $701.43 million. CBIZ had a net margin of 4.51% and a return on equity of 14.73%. The business's quarterly revenue was up 62.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 earnings per share.

Wall Street Analysts Forecast Growth

Separately, William Blair reiterated an "outperform" rating on shares of CBIZ in a report on Friday, April 25th.

Institutional Investors Weigh In On CBIZ

Hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in CBIZ in the first quarter valued at approximately $26,000. MAI Capital Management grew its stake in CBIZ by 243.9% in the first quarter. MAI Capital Management now owns 423 shares of the business services provider's stock valued at $32,000 after acquiring an additional 300 shares during the period. Whittier Trust Co. acquired a new stake in CBIZ in the first quarter valued at approximately $34,000. McIlrath & Eck LLC grew its stake in CBIZ by 193.2% in the fourth quarter. McIlrath & Eck LLC now owns 557 shares of the business services provider's stock valued at $46,000 after acquiring an additional 367 shares during the period. Finally, Olde Wealth Management LLC acquired a new stake in CBIZ in the first quarter valued at approximately $55,000. Institutional investors and hedge funds own 87.44% of the company's stock.

CBIZ Trading Up 0.8%

The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.79. The firm has a 50 day moving average price of $72.03 and a 200 day moving average price of $75.37. The stock has a market capitalization of $3.36 billion, a PE ratio of 35.78 and a beta of 0.92.

About CBIZ

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through Financial Services, Benefits and Insurance Services, and National Practices segments. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.