45,973 Shares in CBIZ, Inc. $CBZ Purchased by Legal & General Group Plc

Key Points

• Legal & General Group Plc acquired 45,973 CBIZ shares worth approximately $1.48 million, while institutional investors collectively owned 87.44% of the company.
• CBIZ reported quarterly EPS of $0.91, beating estimates of $0.72, though revenue declined 0.2% year over year to $682.21 million and fell short of expectations.
• CBIZ shares opened at $54.86, near the $55 price targets from several analysts. Despite two Buy ratings, the overall analyst consensus remains Hold, with a $44.50 target.

Legal & General Group Plc bought a new stake in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 45,973 shares of the business services provider's stock, valued at approximately $1,475,000. Legal & General Group Plc owned 0.08% of CBIZ as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CBZ. BlackRock Inc. acquired a new stake in CBIZ in the 2nd quarter valued at approximately $159,495,000. Durable Capital Partners LP bought a new position in shares of CBIZ in the third quarter worth $207,872,000. 22C Capital LLC acquired a new position in shares of CBIZ during the fourth quarter valued at $161,554,000. Bank of Montreal Can acquired a new position in shares of CBIZ during the fourth quarter valued at $113,596,000. Finally, Royce & Associates LP increased its holdings in shares of CBIZ by 389.3% during the fourth quarter. Royce & Associates LP now owns 659,140 shares of the business services provider's stock valued at $33,254,000 after purchasing an additional 524,438 shares during the period. Institutional investors own 87.44% of the company's stock.

CBIZ Trading Up 0.0%

Shares of CBIZ stock opened at $54.86 on Monday. The business has a fifty day simple moving average of $47.78 and a 200-day simple moving average of $36.15. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 1.15 and a beta of 0.92. CBIZ, Inc. has a fifty-two week low of $24.29 and a fifty-two week high of $60.19. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.74.

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

Analyst Upgrades and Downgrades

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

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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