CBIZ (NYSE:CBZ) Sets New 52-Week Low – Time to Sell?
by Michael Walen · The Markets DailyShares of CBIZ, Inc. (NYSE:CBZ – Get Free Report) reached a new 52-week low on Tuesday . The company traded as low as $47.88 and last traded at $47.5940, with a volume of 235263 shares traded. The stock had previously closed at $50.79.
Wall Street Analysts Forecast Growth
Several research analysts have commented on CBZ shares. CJS Securities upgraded shares of CBIZ to a “strong-buy” rating in a report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft started coverage on CBIZ in a report on Monday, January 12th. They issued a “hold” rating and a $60.00 target price on the stock. Finally, Weiss Ratings cut CBIZ from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.00.
View Our Latest Analysis on CBZ
CBIZ Price Performance
The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 30.34 and a beta of 0.93. The company has a fifty day moving average price of $51.70 and a two-hundred day moving average price of $57.71.
CBIZ (NYSE:CBZ – Get Free Report) last released its quarterly earnings results on Wednesday, October 29th. The business services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.94 by $0.07. CBIZ had a net margin of 3.89% and a return on equity of 14.00%. The firm had revenue of $693.82 million during the quarter, compared to the consensus estimate of $709.18 million. During the same quarter in the prior year, the firm earned $0.93 EPS. CBIZ’s revenue for the quarter was up 58.1% on a year-over-year basis. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. On average, equities research analysts expect that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.
Insider Activity at CBIZ
In other news, CFO Brad S. Lakhia acquired 2,060 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were bought at an average cost of $48.51 per share, with a total value of $99,930.60. Following the purchase, the chief financial officer owned 40,584 shares of the company’s stock, valued at $1,968,729.84. This represents a 5.35% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benaree Pratt Wiley sold 8,288 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $49.54, for a total transaction of $410,587.52. Following the transaction, the director owned 35,956 shares of the company’s stock, valued at approximately $1,781,260.24. The trade was a 18.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.95% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of CBIZ during the 2nd quarter worth $35,000. Strategic Wealth Investment Group LLC purchased a new position in shares of CBIZ in the 2nd quarter valued at about $37,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of CBIZ by 377.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 559 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 442 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in CBIZ by 165.4% during the second quarter. EverSource Wealth Advisors LLC now owns 722 shares of the business services provider’s stock worth $52,000 after buying an additional 450 shares in the last quarter. Finally, Danske Bank A S purchased a new stake in CBIZ during the third quarter worth about $42,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.
CBIZ Company Profile
CBIZ, Inc (NYSE: CBZ), founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.
Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.