CBIZ (NYSE:CBZ) Sets New 12-Month Low – What’s Next?

Shares of CBIZ, Inc. (NYSE:CBZ) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $47.88 and last traded at $47.5940, with a volume of 235263 shares changing hands. The stock had previously closed at $50.79.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. CJS Securities upgraded CBIZ to a “strong-buy” rating in a report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft started coverage on CBIZ in a research report on Monday, January 12th. They set 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 investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

CBIZ Price Performance

The stock 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 50-day moving average of $51.70 and a 200-day moving average of $57.71. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.57 and a current ratio of 1.57.

CBIZ (NYSE:CBZ) last issued its quarterly earnings data on Wednesday, October 29th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.07. CBIZ had a return on equity of 14.00% and a net margin of 3.89%.The business had revenue of $693.82 million for the quarter, compared to the consensus estimate of $709.18 million. During the same period in the prior year, the business earned $0.93 earnings per share. The business’s revenue was up 58.1% on a year-over-year basis. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. As a group, equities research analysts expect that CBIZ, Inc. will post 2.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Brad S. Lakhia acquired 2,060 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was acquired at an average price of $48.51 per share, with a total value of $99,930.60. Following the completion of the transaction, the chief financial officer directly owned 40,584 shares in the company, valued at approximately $1,968,729.84. This represents a 5.35% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Benaree Pratt Wiley sold 8,288 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $49.54, for a total transaction of $410,587.52. Following the transaction, the director directly owned 35,956 shares in the company, valued at $1,781,260.24. The trade was a 18.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 4.95% of the company’s stock.

Hedge Funds Weigh In On CBIZ

Several large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its holdings in CBIZ by 18.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 977,046 shares of the business services provider’s stock valued at $49,634,000 after buying an additional 155,563 shares during the period. Chatham Capital Group Inc. boosted its position in shares of CBIZ by 0.5% in the fourth quarter. Chatham Capital Group Inc. now owns 50,877 shares of the business services provider’s stock worth $2,567,000 after acquiring an additional 250 shares during the last quarter. SG Americas Securities LLC purchased a new stake in CBIZ in the fourth quarter valued at approximately $35,653,000. Assenagon Asset Management S.A. increased its position in CBIZ by 5.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 22,879 shares of the business services provider’s stock worth $1,154,000 after purchasing an additional 1,279 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in CBIZ by 12.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 63,483 shares of the business services provider’s stock worth $3,406,000 after purchasing an additional 7,200 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

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.