The Manufacturers Life Insurance Company bought a new position in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 24,139 shares of the business services provider's stock, valued at approximately $774,000.
A number of other hedge funds also recently modified their holdings of CBZ. Northwestern Mutual Wealth Management Co. acquired a new position in CBIZ in the second quarter valued at about $27,000. Caitong International Asset Management Co. Ltd raised its position 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 in the last quarter. Strategic Wealth Investment Group LLC bought a new stake in shares of CBIZ during the 2nd quarter worth approximately $37,000. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 acquiring an additional 1,315 shares during the period. Finally, Danske Bank A S acquired a new stake in shares of CBIZ during the 3rd quarter worth approximately $42,000. Institutional investors own 87.44% of the company's stock.
CBIZ Stock Performance
Shares of CBIZ stock opened at $54.86 on Friday. The company's 50 day moving average price is $47.78 and its two-hundred day moving average price is $36.09. The firm has a market capitalization of $2.98 billion, a P/E ratio of 25.64, a P/E/G ratio of 1.15 and a beta of 0.92. CBIZ, Inc. has a fifty-two week low of $24.29 and a fifty-two week high of $60.19. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.47.
CBIZ (NYSE:CBZ - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.19. CBIZ had a return on equity of 12.33% and a net margin of 4.73%.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 previous year, the company posted $0.95 EPS. CBIZ's quarterly revenue was down .2% compared to the same quarter last year. On average, equities analysts forecast that CBIZ, Inc. will post 4.1 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. US Capital Advisors set a $55.00 price objective on shares of CBIZ in a research note on Thursday, July 30th. Barrington Research initiated coverage on CBIZ in a report on Wednesday, June 24th. They set an "outperform" rating and a $45.00 price target for the company. CJS Securities downgraded CBIZ from a "market outperform" rating to a "market perform" rating and set a $55.00 price objective for the company. in a research report on Thursday, July 30th. Finally, Weiss Ratings upgraded CBIZ from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $44.50.
Read Our Latest Stock Analysis on CBIZ
About CBIZ
(
Free Report)
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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