CBIZ (NYSE:CBZ) Downgraded by StockNews.com to “Sell”

CBIZ (NYSE:CBZ) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Separately, Sidoti lowered shares of CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 price objective on the stock. in a research note on Tuesday, January 2nd.

CBIZ Trading Down 3.7 %

Shares of CBZ traded down $2.78 during trading hours on Friday, reaching $72.75. 321,086 shares of the company traded hands, compared to its average volume of 309,995. The company’s fifty day moving average price is $75.72 and its two-hundred day moving average price is $65.09. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 30.57 and a beta of 0.83. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.39. CBIZ has a 12 month low of $49.13 and a 12 month high of $79.55.

CBIZ (NYSE:CBZ) last announced its earnings results on Thursday, April 25th. The business services provider reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.03). The company had revenue of $494.30 million for the quarter, compared to the consensus estimate of $490.88 million. CBIZ had a net margin of 7.60% and a return on equity of 15.49%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 EPS. Equities research analysts predict that CBIZ will post 2.74 earnings per share for the current fiscal year.

Institutional Trading of CBIZ

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in CBIZ by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 2,718,316 shares of the business services provider’s stock valued at $170,139,000 after buying an additional 51,127 shares during the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of CBIZ by 5.5% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,151,499 shares of the business services provider’s stock worth $134,662,000 after purchasing an additional 112,117 shares during the period. GW&K Investment Management LLC boosted its position in shares of CBIZ by 7.6% in the fourth quarter. GW&K Investment Management LLC now owns 1,105,210 shares of the business services provider’s stock worth $69,175,000 after purchasing an additional 78,515 shares during the period. BloombergSen Inc. boosted its position in shares of CBIZ by 5.9% in the fourth quarter. BloombergSen Inc. now owns 1,088,951 shares of the business services provider’s stock worth $68,157,000 after purchasing an additional 60,838 shares during the period. Finally, Capital Research Global Investors bought a new position in shares of CBIZ in the fourth quarter worth approximately $47,831,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

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.