Shares of CBIZ Inc. (NYSE:CBZ) saw an uptick in trading volume on Friday . 224,312 shares changed hands during mid-day trading, an increase of 53% from the previous session’s volume of 146,141 shares.The stock last traded at $11.16 and had previously closed at $11.08.
Several brokerages have recently weighed in on CBZ. Zacks Investment Research upgraded CBIZ from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Thursday, August 4th. Sidoti began coverage on CBIZ in a report on Tuesday, July 19th. They issued a “buy” rating for the company.
The stock’s 50 day moving average is $11.27 and its 200 day moving average is $10.59. The stock has a market capitalization of $578.03 million, a price-to-earnings ratio of 15.51 and a beta of 0.67.
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CBIZ (NYSE:CBZ) last released its earnings results on Tuesday, August 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $0.01. The firm earned $197 million during the quarter, compared to analyst estimates of $198.70 million. CBIZ had a net margin of 4.94% and a return on equity of 11.75%. CBIZ’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 EPS. Analysts predict that CBIZ Inc. will post $0.75 earnings per share for the current fiscal year.
In other news, insider Chris Spurio sold 7,000 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $11.60, for a total transaction of $81,200.00. Following the transaction, the insider now owns 186,140 shares in the company, valued at $2,159,224. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jerome P. Grisko sold 9,090 shares of the company’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $11.08, for a total transaction of $100,717.20. Following the transaction, the chief executive officer now owns 519,074 shares in the company, valued at approximately $5,751,339.92. The disclosure for this sale can be found here. Insiders own 7.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in CBZ. Public Employees Retirement System of Ohio raised its position in shares of CBIZ by 1.1% in the second quarter. Public Employees Retirement System of Ohio now owns 128,448 shares of the company’s stock valued at $1,337,000 after buying an additional 1,448 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of CBIZ by 22.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 169,819 shares of the company’s stock valued at $1,768,000 after buying an additional 31,668 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of CBIZ by 220.4% in the second quarter. Cubist Systematic Strategies LLC now owns 32,069 shares of the company’s stock valued at $334,000 after buying an additional 22,059 shares in the last quarter. A.R.T. Advisors LLC bought a new position in shares of CBIZ during the second quarter valued at $286,000. Finally, Zacks Investment Management raised its position in shares of CBIZ by 2.2% in the second quarter. Zacks Investment Management now owns 80,751 shares of the company’s stock valued at $841,000 after buying an additional 1,709 shares in the last quarter. Hedge funds and other institutional investors own 85.46% of the company’s stock.
CBIZ Company Profile
CBIZ, Inc is engaged in providing professional business services, products and solutions to businesses, as well as individuals, governmental entities and not-for-profit enterprises, throughout the United States and parts of Canada. The Company’s business units are aggregated into three practice groups: Financial Services, National Practices and Employee Services.
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