CBIZ (NYSE:CBZ) Share Price Breaks Above 200 Day Moving Average - Here's What Happened

Key Points

• CBIZ shares rose above their 200-day moving average, reaching $54.76 and last trading near $54.75, versus a 200-day average of $40.09.
• Analyst sentiment remains cautious: one analyst rates CBIZ a Buy and seven rate it Hold, producing a consensus Hold rating and a $44.50 price target.
• CBIZ exceeded quarterly earnings expectations, reporting $0.91 in EPS versus the $0.72 consensus, although revenue of $682.21 million fell short of estimates and declined slightly year over year.

CBIZ, Inc. (NYSE:CBZ - Get Free Report) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $40.09 and traded as high as $54.76. CBIZ shares last traded at $54.7450, with a volume of 864,601 shares traded.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barrington Research cut CBIZ from an "outperform" rating to a "hold" rating in a research note on Wednesday, September 16th. William Blair cut shares of CBIZ from an "outperform" rating to a "market perform" rating in a report on Wednesday, September 23rd. US Capital Advisors set a $55.00 price objective on shares of CBIZ in a research report on Thursday, July 30th. CJS Securities downgraded shares of CBIZ from a "market outperform" rating to a "market perform" rating and set a $55.00 price objective on the stock. in a research report on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of CBIZ from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, CBIZ has a consensus rating of "Hold" and a consensus target price of $44.50.

CBIZ Price Performance

The stock has a market cap of $2.97 billion, a P/E ratio of 25.58, a price-to-earnings-growth ratio of 1.31 and a beta of 0.91. The firm has a 50-day moving average price of $54.54 and a 200-day moving average price of $40.09. 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 released its earnings results on Wednesday, July 29th. The business services provider reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.19. The company had revenue of $682.21 million during the quarter, compared to analysts' expectations of $697.96 million. CBIZ had a return on equity of 12.33% and a net margin of 4.73%.The firm's revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 EPS. On average, analysts forecast that CBIZ, Inc. will post 4.17 earnings per share for the current fiscal year.

Institutional Trading of CBIZ

Hedge funds and other institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. purchased a new position in CBIZ during the 2nd quarter valued at about $27,000. Public Employees Retirement System of Ohio purchased a new stake in CBIZ in the second quarter worth about $31,000. EverSource Wealth Advisors LLC increased its stake in shares of CBIZ by 667.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,512 shares of the business services provider's stock valued at $41,000 after purchasing an additional 1,315 shares in the last quarter. Montgomery Financial Services LLC bought a new position in shares of CBIZ during the second quarter valued at approximately $48,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of CBIZ by 18.3% during the second quarter. Parkside Financial Bank & Trust now owns 1,629 shares of the business services provider's stock valued at $52,000 after purchasing an additional 252 shares in the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

About CBIZ

CBIZ, Inc was a provider of accounting, tax, advisory, insurance brokerage and employee benefits services for businesses, individuals and public-sector organizations. Its offerings included audit and assurance, tax planning and compliance, financial and strategic consulting, risk management, commercial insurance, retirement plan services and employee benefit solutions.

Founded in 1996 and headquartered in Cleveland, Ohio, CBIZ grew through a combination of organic expansion and acquisitions.

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