4,971,786 Shares in CBIZ, Inc. $CBZ Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 4.97 million CBIZ shares in the second quarter, worth approximately $159.5 million, giving it a 9.16% stake. Institutional investors collectively own 87.44% of the company.
• Analyst sentiment remains cautious: CBIZ has an average rating of “Hold” and a consensus price target of $44.50, despite ratings ranging from Buy to Hold and price targets up to $55.
• CBIZ reported quarterly EPS of $0.91, beating estimates of $0.72, while revenue of $682.21 million fell short of expectations and declined slightly year over year. Shares opened at $54.54, with a market cap of approximately $2.96 billion.

BlackRock Inc. acquired a new stake in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,971,786 shares of the business services provider's stock, valued at approximately $159,495,000. BlackRock Inc. owned 9.16% of CBIZ as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in CBIZ by 6.2% in the first quarter. AQR Capital Management LLC now owns 11,725 shares of the business services provider's stock worth $889,000 after purchasing an additional 682 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in CBIZ by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,294 shares of the business services provider's stock valued at $2,222,000 after purchasing an additional 1,318 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in CBIZ by 5.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,270 shares of the business services provider's stock valued at $10,868,000 after purchasing an additional 7,676 shares in the last quarter. Jane Street Group LLC raised its position in CBIZ by 96.1% during the 1st quarter. Jane Street Group LLC now owns 41,240 shares of the business services provider's stock valued at $3,128,000 after purchasing an additional 20,214 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of CBIZ by 80.4% in the 2nd quarter. Prudential Financial Inc. now owns 6,637 shares of the business services provider's stock worth $492,000 after buying an additional 2,957 shares during the period. Institutional investors own 87.44% of the company's stock.

Analyst Ratings Changes

CBZ has been the subject of a number of research reports. Barrington Research initiated coverage on shares of CBIZ in a research note on Wednesday, June 24th. They issued an "outperform" rating and a $45.00 price objective for the company. Stephens set a $37.00 target price on shares of CBIZ in a research report on Friday, May 1st. Weiss Ratings raised shares of CBIZ from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. US Capital Advisors set a $55.00 price objective on shares of CBIZ in a research note on Thursday, July 30th. Finally, CJS Securities downgraded shares of CBIZ from a "market outperform" rating to a "market perform" rating and set a $55.00 price objective on the stock. in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $44.50.

CBIZ Trading Down 0.2%

CBIZ stock opened at $54.54 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market cap of $2.96 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 1.15 and a beta of 0.93. The stock has a 50-day moving average of $45.37 and a two-hundred day moving average of $35.26. CBIZ, Inc. has a one year low of $24.29 and a one year high of $64.90.

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 firm had revenue of $682.21 million for the quarter, compared to the consensus estimate of $697.96 million. CBIZ had a net margin of 4.73% and a return on equity of 12.33%. The company's revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 earnings per share. On average, research analysts anticipate that CBIZ, Inc. will post 4.1 EPS for the current fiscal 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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