Algert Global LLC Increases Stock Holdings in CBIZ, Inc. $CBZ

Key Points

• Algert Global increased its CBIZ stake by 126.7% in the second quarter, reaching 74,865 shares worth approximately $2.4 million. Institutional investors and hedge funds collectively own 87.44% of the company.
• CBIZ reported quarterly EPS of $0.91, beating estimates of $0.72, while revenue of $682.21 million fell short of analyst expectations and declined slightly year over year.
• CBIZ shares opened at $54.54, near the $55 analyst target cited by several firms. Despite three Buy ratings, the broader analyst consensus remains Hold, with an average price target of $44.50.

Algert Global LLC raised its position in CBIZ, Inc. (NYSE:CBZ - Free Report) by 126.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,865 shares of the business services provider's stock after acquiring an additional 41,840 shares during the quarter. Algert Global LLC owned approximately 0.14% of CBIZ worth $2,402,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of CBIZ in the second quarter valued at $159,495,000. Durable Capital Partners LP acquired a new position in CBIZ during the 3rd quarter worth $207,872,000. 22C Capital LLC purchased a new stake in CBIZ during the 4th quarter worth about $161,554,000. Bank of Montreal Can acquired a new stake in CBIZ in the 4th quarter valued at about $113,596,000. Finally, P2 Capital Partners LLC raised its position in CBIZ by 3.3% in the 4th quarter. P2 Capital Partners LLC now owns 1,773,391 shares of the business services provider's stock valued at $89,468,000 after purchasing an additional 57,066 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

CBIZ Stock Down 0.2%

Shares of NYSE CBZ opened at $54.54 on Friday. The business has a 50-day moving average price of $45.37 and a 200 day moving average price of $35.26. The stock has a market cap of $2.96 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 1.14 and a beta of 0.93. 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, Inc. has a 52-week low of $24.29 and a 52-week high of $64.90.

CBIZ (NYSE:CBZ - Get Free Report) last released 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. The company had revenue of $682.21 million for 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 firm's revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 earnings per share. Equities research analysts forecast that CBIZ, Inc. will post 4.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.

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