First Trust Capital Management L.P. Purchases New Stake in CBIZ, Inc. $CBZ

Key Points

• First Trust Capital Management bought 1,359,439 CBIZ shares in the third quarter, worth about $74.3 million, making the stock 3.6% of its portfolio and its fifth-largest holding. Institutional investors collectively own 87.44% of CBIZ.
• CBIZ reported quarterly earnings of $1.21 per share, below the $1.28 analyst consensus, and revenue of $702.24 million, short of expectations of $727.08 million. Revenue nevertheless increased 1.2% year over year.
• Analysts have a consensus Hold rating and a $44.50 average price target; CBIZ shares opened at $54.98, near their 12-month high of $55.85.

First Trust Capital Management L.P. acquired a new position in CBIZ, Inc. (NYSE:CBZ - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,359,439 shares of the business services provider's stock, valued at approximately $74,348,000. CBIZ comprises 3.6% of First Trust Capital Management L.P.'s portfolio, making the stock its 5th biggest position. First Trust Capital Management L.P. owned 2.51% of CBIZ at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. New York Life Investment Management LLC bought a new stake in CBIZ in the third quarter worth $4,555,000. Ethic Inc. bought a new position in shares of CBIZ during the third quarter valued at about $225,000. Commonwealth Equity Services LLC grew its stake in shares of CBIZ by 4.8% during the third quarter. Commonwealth Equity Services LLC now owns 23,271 shares of the business services provider's stock valued at $1,273,000 after buying an additional 1,070 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of CBIZ by 99.1% in the third quarter. ProShare Advisors LLC now owns 12,830 shares of the business services provider's stock worth $702,000 after buying an additional 6,386 shares during the period. Finally, Vise Technologies Inc. increased its holdings in shares of CBIZ by 2.6% in the third quarter. Vise Technologies Inc. now owns 7,364 shares of the business services provider's stock worth $403,000 after buying an additional 187 shares during the period. Institutional investors own 87.44% of the company's stock.

CBIZ Price Performance

CBZ stock opened at $54.98 on Friday. The firm's 50-day moving average price is $54.79 and its two-hundred day moving average price is $40.70. CBIZ, Inc. has a 12-month low of $24.29 and a 12-month high of $55.85. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 1.30 and a beta of 0.91. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.71.

CBIZ (NYSE:CBZ - Get Free Report) last posted its earnings results on Monday, October 19th. The business services provider reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.07). The firm had revenue of $702.24 million for the quarter, compared to analysts' expectations of $727.08 million. CBIZ had a return on equity of 12.74% and a net margin of 5.33%. The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 earnings per share. As a group, equities analysts predict that CBIZ, Inc. will post 4.22 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CBZ shares. US Capital Advisors set a $55.00 target price on CBIZ in a report on Thursday, July 30th. Weiss Ratings raised CBIZ from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. CJS Securities cut CBIZ from a "market outperform" rating to a "market perform" rating and set a $55.00 price target on the stock. in a research note on Thursday, July 30th. William Blair downgraded CBIZ from an "outperform" rating to a "market perform" rating in a research report on Wednesday, September 23rd. Finally, Barrington Research lowered CBIZ from an "outperform" rating to a "hold" rating in a research note on Wednesday, September 16th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $44.50.

CBIZ Company Profile

CBIZ, Inc. is a professional services company that provides financial, advisory, insurance and employee benefits services to businesses, individuals and organizations. Its offerings include accounting, tax preparation and planning, audit and assurance, and outsourced finance and business support. The company also provides consulting and advisory services, including valuation, transaction support and risk management, alongside commercial insurance and employee benefits solutions. Through its benefits and insurance services, CBIZ helps employers manage workplace programs and coverage needs.

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