Deutsche Bank AG Takes Position in CBIZ, Inc. $CBZ

Key Points

• Deutsche Bank acquired 57,708 CBIZ shares worth approximately $1.85 million during the second quarter, representing about 0.11% of the company. Institutional investors and hedge funds collectively own 87.44% of CBIZ.
• Analyst sentiment is mixed, with three Buy ratings and five Holds; CBIZ has a consensus 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 reached $682.21 million, slightly below expectations and down 0.2% year over year. Shares opened at $54.54, with a one-year range of $24.29 to $64.90.

Deutsche Bank AG bought a new position in CBIZ, Inc. (NYSE:CBZ - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 57,708 shares of the business services provider's stock, valued at approximately $1,851,000. Deutsche Bank AG owned about 0.11% of CBIZ as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its holdings in CBIZ by 377.8% during the 3rd 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 during the last quarter. Strategic Wealth Investment Group LLC acquired a new position in CBIZ in the second quarter valued at about $37,000. EverSource Wealth Advisors LLC grew its stake in CBIZ by 667.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,512 shares of the business services provider's stock worth $41,000 after buying an additional 1,315 shares during the last quarter. Danske Bank A S bought a new stake in CBIZ during the third quarter worth about $42,000. Finally, Torren Management LLC acquired a new stake in shares of CBIZ during the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 87.44% of the company's stock.

Wall Street Analysts Forecast Growth

CBZ has been the subject of a number of research analyst 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. Stephens set a $37.00 price target on CBIZ in a research report on Friday, May 1st. Barrington Research started coverage on CBIZ in a report on Wednesday, June 24th. They set an "outperform" rating and a $45.00 price target for the company. CJS Securities downgraded CBIZ from a "market outperform" rating to a "market perform" rating and set a $55.00 price objective for the company. in a research report on Thursday, July 30th. Finally, US Capital Advisors set a $55.00 price objective on CBIZ in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, CBIZ currently has a consensus rating of "Hold" and an average price target of $44.50.

CBIZ Trading Down 0.2%

Shares of NYSE CBZ opened at $54.54 on Friday. CBIZ, Inc. has a 1-year low of $24.29 and a 1-year high of $64.90. The company has a 50-day moving average of $45.37 and a two-hundred day moving average of $35.26. The company has a market cap of $2.96 billion, a PE ratio of 25.49, a P/E/G ratio of 1.15 and a beta of 0.93. 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 released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.72 by $0.19. The business had revenue of $682.21 million for the quarter, compared to analysts' expectations of $697.96 million. CBIZ had a net margin of 4.73% and a return on equity of 12.33%. CBIZ's revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 earnings per share. As a group, equities analysts expect that CBIZ, Inc. will post 4.1 earnings per share 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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