Bank of New York Mellon Corp Buys 25,214 Shares of CBIZ, Inc. $CBZ

Key Points

• Bank of New York Mellon increased its CBIZ stake by 17.8%, adding 25,214 shares to own 166,787 shares worth approximately $4.48 million. Institutional investors collectively hold 87.44% of the company.
• Analyst sentiment remains mixed, with three Buy ratings and five Holds. CBIZ has an average rating of Hold and an average price target of $44.50.
• 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 were trading at $54.80, down 0.5%.

Bank of New York Mellon Corp increased its position in CBIZ, Inc. (NYSE:CBZ - Free Report) by 17.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,787 shares of the business services provider's stock after acquiring an additional 25,214 shares during the quarter. Bank of New York Mellon Corp owned about 0.30% of CBIZ worth $4,478,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CBZ. Caitong International Asset Management Co. Ltd grew its position in shares of CBIZ by 377.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 559 shares of the business services provider's stock valued at $30,000 after purchasing an additional 442 shares in the last quarter. Strategic Wealth Investment Group LLC purchased a new stake in shares of CBIZ in the second quarter worth about $37,000. Danske Bank A S bought a new position in CBIZ during the third quarter valued at approximately $42,000. Torren Management LLC bought a new position in CBIZ during the fourth quarter valued at approximately $48,000. Finally, EverSource Wealth Advisors LLC grew its holdings in CBIZ by 165.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 722 shares of the business services provider's stock valued at $52,000 after buying an additional 450 shares in the last quarter. Institutional investors own 87.44% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CBZ shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $42.00 price objective on shares of CBIZ in a research note on Thursday, April 30th. Barrington Research initiated coverage on shares of CBIZ in a report on Wednesday, June 24th. They issued an "outperform" rating and a $45.00 target price for the company. Stephens set a $37.00 target price on shares of CBIZ in a report on Friday, May 1st. US Capital Advisors set a $55.00 price target on shares of CBIZ in a research report on Thursday, July 30th. Finally, Weiss Ratings raised shares of CBIZ from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, CBIZ has an average rating of "Hold" and an average target price of $44.50.

CBIZ Trading Down 0.5%

CBZ stock opened at $54.80 on Thursday. CBIZ, Inc. has a 12 month low of $24.29 and a 12 month high of $67.24. The firm's 50-day moving average is $38.13 and its 200 day moving average is $33.64. The company has a market capitalization of $2.94 billion, a PE ratio of 25.61, a P/E/G ratio of 1.16 and a beta of 0.93. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.63 and a quick ratio of 1.63.

CBIZ (NYSE:CBZ - Get Free Report) last released 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 company had revenue of $682.21 million during the quarter, compared to analysts' expectations of $697.96 million. CBIZ had a net margin of 4.73% and a return on equity of 12.37%. The firm's quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 EPS. On average, research analysts anticipate that CBIZ, Inc. will post 4.1 EPS for the current year.

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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