CBIZ (NYSE:CBZ) Upgraded at StockNews.com

CBIZ (NYSE:CBZ) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

CBIZ Trading Up 0.5 %

NYSE:CBZ opened at $82.72 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 1.49. The business’s 50-day simple moving average is $77.01 and its 200-day simple moving average is $73.82. CBIZ has a fifty-two week low of $60.59 and a fifty-two week high of $86.36. The stock has a market capitalization of $4.15 billion, a PE ratio of 35.05 and a beta of 0.95.

CBIZ (NYSE:CBZ) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. The company had revenue of $438.90 million during the quarter, compared to analysts’ expectations of $440.16 million. CBIZ had a net margin of 7.08% and a return on equity of 15.12%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 earnings per share. Sell-side analysts expect that CBIZ will post 2.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Retirement Systems of Alabama raised its stake in shares of CBIZ by 10.3% during the 3rd quarter. Retirement Systems of Alabama now owns 86,194 shares of the business services provider’s stock worth $5,800,000 after purchasing an additional 8,032 shares in the last quarter. Victory Capital Management Inc. increased its holdings in CBIZ by 22.2% during the third quarter. Victory Capital Management Inc. now owns 47,943 shares of the business services provider’s stock worth $3,226,000 after buying an additional 8,695 shares during the last quarter. Cannon Global Investment Management LLC bought a new stake in CBIZ during the third quarter worth $740,000. Quantbot Technologies LP lifted its stake in CBIZ by 960.9% in the third quarter. Quantbot Technologies LP now owns 38,850 shares of the business services provider’s stock valued at $2,614,000 after acquiring an additional 35,188 shares during the last quarter. Finally, Artemis Investment Management LLP grew its position in shares of CBIZ by 22.8% in the 3rd quarter. Artemis Investment Management LLP now owns 332,534 shares of the business services provider’s stock valued at $22,376,000 after acquiring an additional 61,754 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

About CBIZ

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.