Hsbc Holdings PLC Purchases New Holdings in CBIZ, Inc. $CBZ

Key Points

• Hsbc Holdings PLC acquired 41,460 CBIZ shares during the second quarter, valued at approximately $1.34 million and representing 0.08% of the company. Institutional investors collectively own 87.44% of CBIZ.
• CBIZ reported quarterly earnings of $0.91 per share, beating estimates of $0.72, while revenue of $682.21 million fell slightly short of forecasts and declined 0.2% year over year.
• CBIZ shares opened at $54.55, near their 52-week high of $57.98. Analysts maintain an overall “Hold” rating, with an average price target of $44.50.

Hsbc Holdings PLC acquired a new stake in CBIZ, Inc. (NYSE:CBZ - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 41,460 shares of the business services provider's stock, valued at approximately $1,340,000. Hsbc Holdings PLC owned 0.08% of CBIZ as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. United Capital Financial Advisors LLC purchased a new position in shares of CBIZ during the 2nd quarter worth approximately $491,000. Public Employees Retirement System of Ohio acquired a new position in CBIZ during the second quarter worth $31,000. Corient Private Wealth LP purchased a new position in CBIZ in the second quarter worth $5,385,000. Bank of America Corp DE purchased a new position in CBIZ in the second quarter worth $7,194,000. Finally, Basswood Capital Management L.L.C. acquired a new stake in CBIZ in the second quarter valued at $14,476,000. Hedge funds and other institutional investors own 87.44% of the company's stock.

CBIZ Stock Performance

Shares of CBZ opened at $54.55 on Friday. CBIZ, Inc. has a 1 year low of $24.29 and a 1 year high of $57.98. The company's 50 day simple moving average is $49.87 and its 200 day simple moving average is $36.99. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 1.33 and a beta of 0.92. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.47.

CBIZ (NYSE:CBZ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.19. CBIZ had a net margin of 4.73% and a return on equity of 12.33%. The business had revenue of $682.21 million for the quarter, compared to analyst estimates of $697.96 million. During the same period in the prior year, the firm posted $0.95 EPS. The company's revenue was down .2% on a year-over-year basis. On average, sell-side analysts predict that CBIZ, Inc. will post 4.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CBZ. Weiss Ratings raised shares of CBIZ from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. CJS Securities downgraded shares of CBIZ from a "market outperform" rating to a "market perform" rating and set a $55.00 price target for the company. in a research report on Thursday, July 30th. Barrington Research initiated coverage on shares of CBIZ in a research report on Wednesday, June 24th. They set an "outperform" rating and a $45.00 price target for the company. Finally, US Capital Advisors set a $55.00 price target on CBIZ in a research note on Thursday, July 30th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $44.50.

CBIZ Profile

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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