CBIZ (NYSE:CBZ) Posts Earnings Results, Misses Expectations By $0.07 EPS

CBIZ (NYSE:CBZ) issued its earnings results on Monday. The business services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.07), FiscalAI reports. The firm had revenue of $702.24 million during the quarter, compared to the consensus estimate of $727.08 million. CBIZ had a return on equity of 12.85% and a net margin of 5.33%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 EPS.

CBIZ Trading Up 0.1%

CBIZ stock opened at $54.84 on Wednesday. CBIZ has a 12 month low of $24.29 and a 12 month high of $56.41. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.74. The business’s fifty day simple moving average is $54.70 and its two-hundred day simple moving average is $42.28. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 22.38, a price-to-earnings-growth ratio of 1.31 and a beta of 0.91.

Analysts Set New Price Targets

Several research firms have weighed in on CBZ. US Capital Advisors set a $55.00 price objective on CBIZ in a report on Thursday, July 30th. Weiss Ratings upgraded shares of CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. CJS Securities lowered shares of CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 price objective for the company. in a report on Thursday, July 30th. Barrington Research cut shares of CBIZ from an “outperform” rating to a “hold” rating in a research report on Wednesday, September 16th. Finally, William Blair cut shares of CBIZ from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 23rd. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, CBIZ currently has an average rating of “Hold” and a consensus target price of $44.50.

Institutional Investors Weigh In On CBIZ

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of CBIZ during the 2nd quarter valued at about $159,495,000. Basswood Capital Management L.L.C. bought a new position in CBIZ during the second quarter valued at approximately $14,476,000. Montrusco Bolton Investments Inc. grew its position in CBIZ by 15.2% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 340,021 shares of the business services provider’s stock worth $9,130,000 after purchasing an additional 44,900 shares during the period. Bank of America Corp DE purchased a new stake in CBIZ during the 2nd quarter valued at $7,194,000. Finally, Bank of New York Mellon Corp bought a new position in shares of CBIZ during the 2nd quarter valued at $6,051,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

About CBIZ

CBIZ, Inc is a professional services company that provides accounting, tax, advisory and business consulting services to businesses, individuals and nonprofit organizations. Its offerings include financial reporting, tax planning and compliance, valuation, transaction support, internal audit and risk-management consulting.

The company has also provided employee and insurance services, including employee benefits consulting, payroll and human resources support, property and casualty insurance brokerage, retirement plan services and risk-management solutions.