167,860 Shares in CBIZ, Inc. $CBZ Purchased by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP purchased 167,860 CBIZ shares during the second quarter, valued at approximately $5.4 million, while institutional investors collectively own 87.44% of the company.
• Analysts hold a generally cautious view: CBIZ has an average rating of “Hold” and a consensus price target of $44.50, despite some Buy and Outperform ratings.
• CBIZ beat quarterly EPS estimates, reporting $0.91 versus the $0.72 consensus, but revenue of $682.21 million fell short of estimates and declined slightly year over year.

Corient Private Wealth LP purchased a new position in CBIZ, Inc. (NYSE:CBZ - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 167,860 shares of the business services provider's stock, valued at approximately $5,385,000. Corient Private Wealth LP owned approximately 0.31% of CBIZ at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CBZ. Bank of America Corp DE purchased a new stake in CBIZ during the 2nd quarter valued at approximately $7,194,000. Basswood Capital Management L.L.C. purchased a new position in shares of CBIZ in the second quarter worth $14,476,000. Jupiter Topco LLC bought a new position in shares of CBIZ during the second quarter worth $695,000. Hsbc Holdings PLC bought a new position in shares of CBIZ during the second quarter worth $1,340,000. Finally, Legal & General Group Plc purchased a new position in CBIZ during the second quarter valued at $1,475,000. 87.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on CBZ shares. Weiss Ratings upgraded shares of CBIZ from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. US Capital Advisors set a $55.00 price objective on shares of CBIZ in a report on Thursday, July 30th. CJS Securities lowered CBIZ from a "market outperform" rating to a "market perform" rating and set a $55.00 price objective for the company. in a research report on Thursday, July 30th. Finally, Barrington Research started coverage on CBIZ in a research report on Wednesday, June 24th. They set an "outperform" rating and a $45.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, CBIZ presently has an average rating of "Hold" and a consensus price target of $44.50.

CBIZ Trading Down 0.0%

Shares of NYSE CBZ opened at $54.49 on Tuesday. CBIZ, Inc. has a 1-year low of $24.29 and a 1-year high of $64.90. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.47. The business's 50 day moving average is $45.88 and its two-hundred day moving average is $35.42. The stock has a market capitalization of $2.96 billion, a P/E ratio of 25.46, a PEG ratio of 1.14 and a beta of 0.92.

CBIZ (NYSE:CBZ - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.19. The business had revenue of $682.21 million during 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 company's revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the company earned $0.95 EPS. As a group, research analysts expect that CBIZ, Inc. will post 4.1 EPS for the current year.

About CBIZ

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.

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