Hsbc Holdings PLC Takes $1.34 Million Position in CBIZ, Inc. $CBZ

Key Points

• Hsbc Holdings PLC acquired a new $1.34 million stake in CBIZ during the second quarter, purchasing 41,460 shares; institutional investors and hedge funds collectively own 87.44% of the company.
• CBIZ exceeded quarterly earnings expectations, reporting $0.91 in EPS versus the $0.72 consensus, though revenue fell 0.2% year over year to $682.21 million.
• Analyst sentiment remains cautious: CBIZ has a consensus “Hold” rating and an average price target of $44.50, below its reported share price of $54.49.

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

A number of other large investors have also modified their holdings of CBZ. BlackRock Inc. acquired a new position in shares of CBIZ in the 2nd quarter valued at $159,495,000. Durable Capital Partners LP bought a new position in shares of CBIZ during the 3rd quarter worth about $207,872,000. 22C Capital LLC acquired a new stake in shares of CBIZ during the 4th quarter valued at about $161,554,000. Bank of Montreal Can acquired a new stake in shares of CBIZ during the 4th quarter valued at about $113,596,000. Finally, Royce & Associates LP increased its stake in CBIZ by 389.3% in the fourth quarter. Royce & Associates LP now owns 659,140 shares of the business services provider's stock valued at $33,254,000 after acquiring an additional 524,438 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

CBIZ Stock Down 0.0%

Shares of NYSE CBZ opened at $54.49 on Tuesday. CBIZ, Inc. has a 52-week low of $24.29 and a 52-week high of $64.90. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.47. The business has a fifty day moving average of $45.88 and a two-hundred day moving average of $35.42. The stock has a market cap of $2.96 billion, a PE ratio of 25.46, a PEG ratio of 1.14 and a beta of 0.92.

CBIZ (NYSE:CBZ - Get Free Report) last posted its earnings results 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 quarter in the prior year, the firm earned $0.95 EPS. The firm's quarterly revenue was down .2% compared to the same quarter last year. As a group, equities research analysts expect that CBIZ, Inc. will post 4.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on CBZ. CJS Securities lowered 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. Weiss Ratings raised 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 price objective on CBIZ in a research note on Thursday, July 30th. Finally, Barrington Research began coverage on CBIZ in a research note on Wednesday, June 24th. They issued an "outperform" rating and a $45.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, CBIZ presently has a consensus rating of "Hold" and an average price target of $44.50.

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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