CBIZ (NYSE:CBZ) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

CBIZ, Inc. (NYSE:CBZ)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $74.37 and traded as high as $83.36. CBIZ shares last traded at $82.71, with a volume of 202,809 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com raised CBIZ from a “sell” rating to a “hold” rating in a research note on Friday, December 27th.

CBIZ Stock Performance

The firm’s 50-day moving average price is $80.30 and its 200-day moving average price is $74.37. 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 stock has a market cap of $4.15 billion, a P/E ratio of 35.05 and a beta of 0.95.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CBZ. AQR Capital Management LLC lifted its stake in shares of CBIZ by 1.2% in the 2nd quarter. AQR Capital Management LLC now owns 14,960 shares of the business services provider’s stock valued at $1,109,000 after purchasing an additional 176 shares during the last quarter. Inspire Investing LLC raised its holdings in CBIZ by 4.2% during the 2nd quarter. Inspire Investing LLC now owns 4,757 shares of the business services provider’s stock valued at $352,000 after buying an additional 190 shares during the period. US Bancorp DE raised its holdings in CBIZ by 16.1% during the 3rd quarter. US Bancorp DE now owns 1,796 shares of the business services provider’s stock valued at $121,000 after buying an additional 249 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in CBIZ by 1.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,514 shares of the business services provider’s stock worth $1,111,000 after buying an additional 279 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in CBIZ by 55.8% during the third quarter. Signaturefd LLC now owns 961 shares of the business services provider’s stock worth $65,000 after buying an additional 344 shares during the period. Institutional investors own 87.44% of the company’s stock.

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.