Great Lakes Advisors LLC Makes New Investment in CBIZ, Inc. $CBZ

Key Points

• Great Lakes Advisors initiated a position in CBIZ during the second quarter, purchasing 35,586 shares valued at approximately $1.14 million. Institutional investors and hedge funds collectively own 87.44% of the company.
• Analysts maintain a generally cautious outlook, with CBIZ receiving an average rating of “Hold” and a consensus price target of $44.50; CJS Securities recently downgraded the stock to “Market Perform.”
• 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 opened at $54.70, well above the consensus target.

Great Lakes Advisors LLC purchased a new stake in CBIZ, Inc. (NYSE:CBZ - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 35,586 shares of the business services provider's stock, valued at approximately $1,142,000. Great Lakes Advisors LLC owned approximately 0.07% of CBIZ at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its stake in shares of CBIZ by 377.8% in 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 buying an additional 442 shares during the period. Strategic Wealth Investment Group LLC bought a new stake in CBIZ in the 2nd quarter valued at about $37,000. EverSource Wealth Advisors LLC raised its stake in CBIZ by 667.5% during the 1st 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 period. Danske Bank A S acquired a new position in CBIZ during the 3rd quarter worth approximately $42,000. Finally, Torren Management LLC bought a new position in CBIZ in the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 87.44% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CBZ. CJS Securities cut CBIZ from a "market outperform" rating to a "market perform" rating and set a $55.00 price objective for the company. in a research note on Thursday, July 30th. Stephens set a $37.00 target price on CBIZ in a research report on Friday, May 1st. Weiss Ratings upgraded CBIZ from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. US Capital Advisors set a $55.00 target price on CBIZ in a report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $42.00 price target on shares of CBIZ in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, CBIZ has an average rating of "Hold" and a consensus target price of $44.50.

CBIZ Trading Down 0.6%

CBZ opened at $54.70 on Friday. CBIZ, Inc. has a fifty-two week low of $24.29 and a fifty-two week high of $67.24. The firm has a market capitalization of $2.97 billion, a PE ratio of 25.56, a P/E/G ratio of 1.15 and a beta of 0.93. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.47. The company's 50-day moving average is $43.16 and its 200 day moving average is $34.69.

CBIZ (NYSE:CBZ - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.19. The business had revenue of $682.21 million during the quarter, compared to the consensus estimate of $697.96 million. CBIZ had a return on equity of 12.33% and a net margin of 4.73%.The company's quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS. As a group, research analysts predict that CBIZ, Inc. will post 4.1 earnings per share for the current fiscal year.

CBIZ Company 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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