Jupiter Topco LLC Buys Shares of 21,663 CBIZ, Inc. $CBZ

Key Points

• Jupiter Topco LLC acquired 21,663 CBIZ shares worth approximately $695,000 during the second quarter. Institutional investors collectively own 87.44% of CBIZ’s outstanding stock.
• Analyst sentiment is mixed: CBIZ has a consensus “Hold” rating from seven analysts, with an average price target of $44.50, below its reported opening price of $54.86.
• CBIZ beat quarterly earnings expectations, reporting $0.91 in EPS versus the $0.72 consensus, although revenue of $682.21 million missed estimates and declined 0.2% year over year.

Jupiter Topco LLC acquired a new stake in CBIZ, Inc. (NYSE:CBZ - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,663 shares of the business services provider's stock, valued at approximately $695,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Hsbc Holdings PLC acquired a new position in shares of CBIZ in the 2nd quarter valued at $1,340,000. Legal & General Group Plc acquired a new stake in shares of CBIZ during the 2nd quarter worth about $1,475,000. The Manufacturers Life Insurance Company purchased a new stake in CBIZ in the 2nd quarter valued at about $774,000. Algert Global LLC raised its holdings in CBIZ by 126.7% in the 2nd quarter. Algert Global LLC now owns 74,865 shares of the business services provider's stock valued at $2,402,000 after buying an additional 41,840 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new position in CBIZ in the second quarter valued at about $740,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on CBZ shares. Barrington Research initiated coverage on shares of CBIZ in a research note on Wednesday, June 24th. They set an "outperform" rating and a $45.00 target price for the company. Weiss Ratings upgraded shares of 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 shares of CBIZ in a research report on Thursday, July 30th. Finally, CJS Securities downgraded shares of CBIZ from a "market outperform" rating to a "market perform" rating and set a $55.00 target price for the company. in a report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, CBIZ has a consensus rating of "Hold" and an average target price of $44.50.

CBIZ Stock Up 0.0%

Shares of NYSE CBZ opened at $54.86 on Monday. The business has a 50-day moving average price of $47.78 and a 200 day moving average price of $36.15. The stock has a market cap of $2.98 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.15 and a beta of 0.92. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. CBIZ, Inc. has a 52-week low of $24.29 and a 52-week high of $60.19.

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