CBIZ (NYSE:CBZ) Stock Crosses Above 200-Day Moving Average - Here's Why

Shares of CBIZ, Inc. (NYSE:CBZ - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $74.37 and traded as high as $83.36. CBIZ shares last traded at $82.71, with a volume of 202,809 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded CBIZ from a "sell" rating to a "hold" rating in a research note on Friday, December 27th.

CBIZ Stock Down 0.0 %

The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 35.08 and a beta of 0.95. The firm's 50-day simple moving average is $80.30 and its two-hundred day simple moving average is $74.37. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 1.49.

CBIZ (NYSE:CBZ - Get Free Report) last issued its quarterly earnings data 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. CBIZ had a net margin of 7.08% and a return on equity of 15.12%. The firm had revenue of $438.90 million for the quarter, compared to analysts' expectations of $440.16 million. During the same period in the prior year, the company earned $0.66 EPS. The firm's revenue was up 6.9% on a year-over-year basis. Sell-side analysts predict that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Institutional Investors Weigh In On CBIZ

Several hedge funds have recently modified their holdings of CBZ. AQR Capital Management LLC lifted its holdings in shares of CBIZ by 1.2% during the 2nd quarter. AQR Capital Management LLC now owns 14,960 shares of the business services provider's stock worth $1,109,000 after acquiring an additional 176 shares during the period. Inspire Investing LLC increased its holdings in CBIZ by 4.2% in the 2nd quarter. Inspire Investing LLC now owns 4,757 shares of the business services provider's stock valued at $352,000 after purchasing an additional 190 shares in the last quarter. US Bancorp DE raised its position in CBIZ by 16.1% in the third quarter. US Bancorp DE now owns 1,796 shares of the business services provider's stock valued at $121,000 after purchasing an additional 249 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of CBIZ by 1.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,514 shares of the business services provider's stock worth $1,111,000 after buying an additional 279 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of CBIZ by 55.8% during the 3rd quarter. Signaturefd LLC now owns 961 shares of the business services provider's stock valued at $65,000 after buying an additional 344 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

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.