CBIZ (NYSE:CBZ) Shares Gap Up – Here’s Why

CBIZ, Inc. (NYSE:CBZ) gapped up prior to trading on Thursday . The stock had previously closed at $77.90, but opened at $80.13. CBIZ shares last traded at $79.19, with a volume of 28,982 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised CBIZ from a “sell” rating to a “hold” rating in a research note on Tuesday.

CBIZ Trading Down 0.4 %

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.49 and a current ratio of 1.49. The business has a fifty day moving average of $74.20 and a 200-day moving average of $73.46. The company has a market capitalization of $4.00 billion, a P/E ratio of 33.73 and a beta of 0.95.

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

Institutional Trading of CBIZ

A number of large investors have recently made changes to their positions in CBZ. Burgundy Asset Management Ltd. raised its position in shares of CBIZ by 1.8% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,220,013 shares of the business services provider’s stock valued at $164,503,000 after buying an additional 40,215 shares in the last quarter. State Street Corp grew its stake in CBIZ by 0.9% in the third quarter. State Street Corp now owns 1,130,848 shares of the business services provider’s stock valued at $76,095,000 after purchasing an additional 10,555 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in CBIZ by 1.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,125,766 shares of the business services provider’s stock valued at $75,753,000 after acquiring an additional 11,401 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of CBIZ by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,109,074 shares of the business services provider’s stock worth $74,644,000 after purchasing an additional 11,615 shares in the last quarter. Finally, Premier Fund Managers Ltd increased its position in CBIZ by 14.0% during the 3rd quarter. Premier Fund Managers Ltd now owns 813,698 shares of the business services provider’s stock valued at $54,375,000 after buying an additional 100,000 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

About CBIZ

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.