CBIZ (NYSE:CBZ) Trading Up 5.4% Following Earnings Beat

CBIZ, Inc. (NYSE:CBZ) shot up 5.4% during trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $71.76 and last traded at $70.48. 25,382 shares were traded during trading, a decline of 92% from the average session volume of 310,939 shares. The stock had previously closed at $66.86.

The business services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. CBIZ had a net margin of 7.12% and a return on equity of 14.58%. The business had revenue of $438.90 million for the quarter, compared to the consensus estimate of $440.16 million. During the same quarter last year, the firm posted $0.66 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Sidoti upgraded CBIZ from a “neutral” rating to a “buy” rating and increased their target price for the company from $80.00 to $86.00 in a research note on Monday, August 12th. StockNews.com lowered shares of CBIZ from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th.

Institutional Trading of CBIZ

Several institutional investors have recently added to or reduced their stakes in the stock. Cannon Global Investment Management LLC bought a new stake in shares of CBIZ in the 3rd quarter worth about $740,000. US Bancorp DE grew its stake in CBIZ by 16.1% in the third quarter. US Bancorp DE now owns 1,796 shares of the business services provider’s stock worth $121,000 after purchasing an additional 249 shares in the last quarter. Semanteon Capital Management LP bought a new stake in CBIZ in the third quarter valued at about $1,144,000. Wealth Enhancement Advisory Services LLC lifted its stake 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 valued at $1,111,000 after buying an additional 279 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of CBIZ by 70.4% during the third quarter. Assenagon Asset Management S.A. now owns 36,800 shares of the business services provider’s stock valued at $2,476,000 after acquiring an additional 15,200 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

CBIZ Stock Down 0.3 %

The firm has a market cap of $3.56 billion, a P/E ratio of 30.03 and a beta of 0.92. The firm’s 50-day moving average price is $67.89 and its 200 day moving average price is $72.86. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43.

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.