34,897 Shares of CBIZ, Inc. $CBZ Purchased by Transmarket Holdings LP

Key Points

• Transmarket Holdings LP purchased 34,897 CBIZ shares worth approximately $1.9 million in the third quarter, making CBIZ 1.1% of its portfolio. Institutional investors collectively own 87.44% of the company.
• CBIZ reported mixed quarterly results, with earnings per share of $1.21 below the $1.28 consensus estimate and revenue of $702.24 million below expectations, although revenue increased 1.2% year over year.
• Analyst sentiment is cautious: CBIZ has a consensus “Hold” rating from eight analysts and an average price target of $44.50, below its reported share price of $54.95.

Transmarket Holdings LP purchased a new stake in CBIZ, Inc. (NYSE:CBZ - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 34,897 shares of the business services provider's stock, valued at approximately $1,909,000. CBIZ makes up about 1.1% of Transmarket Holdings LP's portfolio, making the stock its 20th largest position.

Other hedge funds also recently modified their holdings of the company. North Point Portfolio Managers Corp OH acquired a new stake in shares of CBIZ during the 3rd quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of CBIZ in the second quarter valued at $27,000. Public Employees Retirement System of Ohio bought a new position in CBIZ in the second quarter worth $31,000. Montgomery Financial Services LLC bought a new position in CBIZ in the second quarter worth $48,000. Finally, EverSource Wealth Advisors LLC lifted its position in CBIZ by 667.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,512 shares of the business services provider's stock worth $41,000 after purchasing an additional 1,315 shares during the period. Institutional investors own 87.44% of the company's stock.

CBIZ Stock Performance

NYSE CBZ opened at $54.95 on Thursday. The company has a 50 day moving average of $54.72 and a 200-day moving average of $40.32. CBIZ, Inc. has a 1-year low of $24.29 and a 1-year high of $56.41. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 1.32 and a beta of 0.91. 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 (NYSE:CBZ - Get Free Report) last announced its earnings results on Monday, October 19th. The business services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.07). CBIZ had a return on equity of 12.85% and a net margin of 5.33%. The business had revenue of $702.24 million for the quarter, compared to the consensus estimate of $727.08 million. During the same quarter in the previous year, the company posted $1.01 EPS. CBIZ's revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts forecast that CBIZ, Inc. will post 4.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on CBZ. US Capital Advisors set a $55.00 price target on shares of CBIZ in a report on Thursday, July 30th. CJS Securities downgraded shares of 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. William Blair lowered shares of CBIZ from an "outperform" rating to a "market perform" rating in a research report on Wednesday, September 23rd. Weiss Ratings raised shares of CBIZ from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Finally, Barrington Research lowered shares of CBIZ from an "outperform" rating to a "hold" rating in a research report on Wednesday, September 16th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $44.50.

CBIZ Company Profile

CBIZ, Inc is a professional services company that provides accounting, tax, advisory and business consulting services to businesses, individuals and nonprofit organizations. Its offerings include financial reporting, tax planning and compliance, valuation, transaction support, internal audit and risk-management consulting.

The company has also provided employee and insurance services, including employee benefits consulting, payroll and human resources support, property and casualty insurance brokerage, retirement plan services and risk-management solutions.

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