163,214 Shares in CBIZ, Inc. $CBZ Bought by Cygnus Capital Advisors LLC

Key Points

• Cygnus Capital Advisors acquired 163,214 CBIZ shares worth approximately $5.24 million, making CBIZ 3.5% of its portfolio; institutional investors collectively own 87.44% of the company.
• Analyst sentiment remains cautious, with an overall “Hold” rating and a consensus price target of $44.50, despite targets ranging from $45 to $55.
• CBIZ reported quarterly EPS of $0.91, exceeding the $0.72 consensus estimate, while revenue reached $682.21 million and declined slightly year over year. The stock opened at $54.86 and remains near its 52-week high of $60.19.

Cygnus Capital Advisors LLC bought a new stake in CBIZ, Inc. (NYSE:CBZ - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 163,214 shares of the business services provider's stock, valued at approximately $5,236,000. CBIZ comprises approximately 3.5% of Cygnus Capital Advisors LLC's investment portfolio, making the stock its 8th biggest position. Cygnus Capital Advisors LLC owned 0.30% of CBIZ as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Quantinno Capital Management LP increased its stake in shares of CBIZ by 543.8% in 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 period. Bank of New York Mellon Corp boosted its position in CBIZ by 17.8% during 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 buying an additional 25,214 shares during the period. Great Lakes Advisors LLC bought a new stake in CBIZ during the 2nd quarter worth approximately $1,142,000. Edgestream Partners L.P. bought a new stake in CBIZ during the 1st quarter worth approximately $3,611,000. Finally, Corient Private Wealth LP bought a new stake in CBIZ during the 2nd quarter worth approximately $5,385,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CBZ has been the subject of several analyst reports. US Capital Advisors set a $55.00 price target on shares of CBIZ in a research note on Thursday, July 30th. Weiss Ratings raised shares of CBIZ from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. CJS Securities downgraded CBIZ from a "market outperform" rating to a "market perform" rating and set a $55.00 price objective for the company. in a report on Thursday, July 30th. Finally, Barrington Research assumed coverage on CBIZ in a research report on Wednesday, June 24th. They set an "outperform" rating and a $45.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $44.50.

CBIZ Stock Performance

Shares of CBZ stock opened at $54.86 on Tuesday. The stock has a market capitalization of $2.98 billion, a PE ratio of 25.64, a PEG ratio of 1.15 and a beta of 0.92. The business's 50 day simple moving average is $48.23 and its 200 day simple moving average is $36.34. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.47. CBIZ, Inc. has a one year low of $24.29 and a one year high of $60.19.

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 the consensus estimate of $0.72 by $0.19. The firm had revenue of $682.21 million during the quarter, compared to analyst estimates of $697.96 million. CBIZ had a net margin of 4.73% and a return on equity of 12.33%. The company's revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business earned $0.95 EPS. As a group, research analysts forecast that CBIZ, Inc. will post 4.1 earnings per share 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.

Want to see what other hedge funds are holding CBZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBIZ, Inc. (NYSE:CBZ - Free Report).

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.