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

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 analysts' consensus estimates of $0.84 by $0.11. CBIZ had a net margin of 4.51% and a return on equity of 15.57%. The firm had revenue of $683.50 million during the quarter, compared to analysts' expectations of $701.43 million. During the same period in the previous year, the company earned $0.39 earnings per share. CBIZ's quarterly revenue was up 62.7% compared to the same quarter last year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On CBIZ

A number of institutional investors and hedge funds have recently made changes to their positions in CBZ. Quarry LP purchased a new stake in shares of CBIZ in the first quarter valued at about $26,000. MAI Capital Management raised its holdings in shares of 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 buying an additional 300 shares during the last quarter. Whittier Trust Co. purchased a new stake in shares of CBIZ in the first quarter valued at about $34,000. McIlrath & Eck LLC raised its holdings in shares of 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 buying an additional 367 shares during the last quarter. Finally, Olde Wealth Management LLC purchased a new stake in shares of CBIZ in the first quarter valued at about $55,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

CBIZ Stock Up 1.0%

The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.76. The business's fifty day moving average price is $72.03 and its 200 day moving average price is $75.50. The firm has a market capitalization of $3.36 billion, a PE ratio of 35.48 and a beta of 0.91.

CBIZ Company Profile

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.