Engineers Gate Manager LP Sells 177,848 Shares of CBIZ, Inc. $CBZ

Key Points

• Engineers Gate Manager LP cut its CBIZ position by 91.2% in the second quarter, selling 177,848 shares and retaining 17,180 shares valued at approximately $551,000.
• CBIZ reported quarterly earnings of $0.91 per share, exceeding estimates of $0.72, while revenue of $682.21 million fell short of expectations and declined slightly year over year.
• Analyst sentiment is cautious: CBIZ has an overall “Hold” rating, with one Buy and six Hold ratings and an average price target of $44.50, below its reported share price of $54.69.

Engineers Gate Manager LP lowered its position in CBIZ, Inc. (NYSE:CBZ - Free Report) by 91.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,180 shares of the business services provider's stock after selling 177,848 shares during the period. Engineers Gate Manager LP's holdings in CBIZ were worth $551,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of CBIZ in the second quarter worth $27,000. Public Employees Retirement System of Ohio bought a new position in shares of CBIZ during the 2nd quarter worth about $31,000. EverSource Wealth Advisors LLC raised its position in shares of CBIZ by 667.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,512 shares of the business services provider's stock valued at $41,000 after buying an additional 1,315 shares during the last quarter. Montgomery Financial Services LLC bought a new stake in shares of CBIZ in the second quarter valued at about $48,000. Finally, Parkside Financial Bank & Trust grew its position in CBIZ by 18.3% during the second quarter. Parkside Financial Bank & Trust now owns 1,629 shares of the business services provider's stock worth $52,000 after buying an additional 252 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

CBIZ Stock Up 0.0%

NYSE CBZ opened at $54.69 on Wednesday. The firm has a market cap of $2.97 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 1.31 and a beta of 0.92. CBIZ, Inc. has a one year low of $24.29 and a one year high of $56.93. The stock's 50 day simple moving average is $52.22 and its 200 day simple moving average is $38.32. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.47.

CBIZ (NYSE:CBZ - Get Free Report) last announced its earnings results on Wednesday, July 29th. The business services provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.19. The company had revenue of $682.21 million during 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 was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 earnings per share. As a group, sell-side analysts forecast that CBIZ, Inc. will post 4.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CBZ has been the topic of several recent research reports. CJS Securities lowered CBIZ from a "market outperform" rating to a "market perform" rating and set a $55.00 price objective on the stock. in a report on Thursday, July 30th. Weiss Ratings raised shares of CBIZ from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Barrington Research downgraded shares of CBIZ from an "outperform" rating to a "hold" rating in a report on Wednesday, September 16th. Finally, US Capital Advisors set a $55.00 target price on shares of CBIZ in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $44.50.

About CBIZ

CBIZ, Inc NYSE: CBZ is a diversified professional services company that provides accounting, tax, advisory, insurance brokerage, and employee benefits services to businesses, nonprofit organizations, government entities, and individuals. The company serves clients across a range of industries, including healthcare, construction, manufacturing, real estate, financial services, and professional services.

Its accounting and advisory offerings include audit and attest services, tax planning and compliance, financial reporting, valuation, transaction advisory, forensic accounting, and business consulting.

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