Insider Buying: CBIZ, Inc. (NYSE:CBZ) Director Purchases 2,000 Shares of Stock

Key Points

• CBIZ, Inc. Director Rodney A. Young purchased 2,000 shares at $62.43 each, raising his ownership by 31.70% to a total of 8,310 shares.
• For Q2, CBIZ reported $0.95 EPS, exceeding expectations of $0.84, but fell short on revenue with $683.5 million compared to the forecasted $701.43 million.
• Institutional investors now hold 87.44% of CBIZ's stock, with notable increases from firms like Prudential Financial and Ameritas Investment Partners.

CBIZ, Inc. (NYSE:CBZ - Get Free Report) Director Rodney A. Young bought 2,000 shares of the stock in a transaction on Friday, August 8th. The shares were acquired at an average cost of $62.43 per share, for a total transaction of $124,860.00. Following the purchase, the director owned 8,310 shares in the company, valued at $518,793.30. The trade was a 31.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

CBIZ Trading Up 1.9%

Shares of CBZ stock traded up $1.18 on Tuesday, hitting $62.97. 526,335 shares of the stock traded hands, compared to its average volume of 462,178. The firm's 50-day moving average price is $70.77 and its two-hundred day moving average price is $74.45. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a market capitalization of $3.40 billion, a PE ratio of 36.19 and a beta of 0.92. CBIZ, Inc. has a twelve month low of $56.83 and a twelve month high of $90.13.

CBIZ (NYSE:CBZ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.11. The firm had revenue of $683.50 million for the quarter, compared to analysts' expectations of $701.43 million. CBIZ had a net margin of 4.51% and a return on equity of 14.73%. The company's revenue was up 62.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS. As a group, analysts anticipate that CBIZ, Inc. will post 2.65 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. lifted its position in CBIZ by 10.4% in the second quarter. Ameritas Investment Partners Inc. now owns 5,353 shares of the business services provider's stock valued at $384,000 after buying an additional 505 shares during the last quarter. Prudential Financial Inc. lifted its position in CBIZ by 80.4% in the second quarter. Prudential Financial Inc. now owns 6,637 shares of the business services provider's stock valued at $492,000 after buying an additional 2,957 shares during the last quarter. Segall Bryant & Hamill LLC lifted its position in CBIZ by 20.7% in the second quarter. Segall Bryant & Hamill LLC now owns 200,835 shares of the business services provider's stock valued at $14,402,000 after buying an additional 34,378 shares during the last quarter. Rhumbline Advisers lifted its position in CBIZ by 11.9% in the second quarter. Rhumbline Advisers now owns 80,821 shares of the business services provider's stock valued at $5,796,000 after buying an additional 8,585 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new position in CBIZ in the second quarter valued at about $7,825,000. Institutional investors and hedge funds own 87.44% of the company's stock.

Analysts Set New Price Targets

Separately, William Blair reissued an "outperform" rating on shares of CBIZ in a research report on Friday, April 25th.

CBIZ Company Profile

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through Financial Services, Benefits and Insurance Services, and National Practices segments. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.

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