123,551 Shares in CBIZ, Inc. $CBZ Purchased by Summit Creek Advisors LLC

Key Points

• Summit Creek Advisors LLC acquired 123,551 CBIZ shares worth approximately $3.96 million in the second quarter, representing about 0.23% of the company. Institutional investors collectively own 87.44% of CBIZ.
• Analysts maintain a consensus “Hold” rating with an average price target of $44.50, below CBIZ’s reported opening price of $54.80.
• CBIZ exceeded quarterly EPS expectations, reporting $0.91 versus the $0.72 consensus estimate, though revenue declined slightly year over year to $682.21 million.

Summit Creek Advisors LLC acquired a new stake in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 123,551 shares of the business services provider's stock, valued at approximately $3,964,000. Summit Creek Advisors LLC owned about 0.23% of CBIZ as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quantinno Capital Management LP grew its holdings in shares of CBIZ by 543.8% during the first quarter. Quantinno Capital Management LP now owns 175,005 shares of the business services provider's stock valued at $4,699,000 after buying an additional 147,820 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in CBIZ by 17.8% in the 1st quarter. Bank of New York Mellon Corp now owns 166,787 shares of the business services provider's stock worth $4,478,000 after acquiring an additional 25,214 shares during the last quarter. Edgestream Partners L.P. bought a new position in CBIZ in the 1st quarter valued at approximately $3,611,000. First Trust Advisors LP lifted its position in CBIZ by 236.2% in the 1st quarter. First Trust Advisors LP now owns 62,286 shares of the business services provider's stock valued at $1,672,000 after acquiring an additional 43,758 shares in the last quarter. Finally, GatePass Capital LLC purchased a new stake in CBIZ during the 1st quarter valued at $2,636,000. 87.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CBZ has been the subject of a number of research analyst reports. Weiss Ratings raised CBIZ from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. CJS Securities downgraded 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. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $42.00 price objective on shares of CBIZ in a research report on Thursday, April 30th. Stephens set a $37.00 price objective on CBIZ in a report on Friday, May 1st. Finally, US Capital Advisors set a $55.00 target price on CBIZ in a research report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, CBIZ has a consensus rating of "Hold" and a consensus target price of $44.50.

CBIZ Price Performance

Shares of CBZ opened at $54.80 on Wednesday. The firm has a fifty day simple moving average of $41.94 and a two-hundred day simple moving average of $34.32. The firm has a market cap of $2.97 billion, a PE ratio of 25.61, a P/E/G ratio of 1.14 and a beta of 0.92. 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, Inc. has a 1-year low of $24.29 and a 1-year high of $67.24.

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

CBIZ Profile

CBIZ, Inc NYSE: CBZ, founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.

Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source