CBIZ (NYSE:CBZ) Trading Up 5.4% - Here's What Happened

Shares of CBIZ, Inc. (NYSE:CBZ - Get Free Report) rose 5.4% during trading on Tuesday . The stock traded as high as $71.76 and last traded at $70.48. Approximately 25,382 shares changed hands during trading, a decline of 92% from the average daily volume of 310,939 shares. The stock had previously closed at $66.86.

Analyst Ratings Changes

A number of brokerages recently commented on CBZ. StockNews.com lowered shares of CBIZ from a "hold" rating to a "sell" rating in a report on Thursday, September 5th. Sidoti upgraded CBIZ from a "neutral" rating to a "buy" rating and boosted their price target for the company from $80.00 to $86.00 in a report on Monday, August 12th.

CBIZ Trading Up 6.3 %

The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 30.45 and a beta of 0.92. The business has a 50-day simple moving average of $67.91 and a two-hundred day simple moving average of $72.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.48 and a current ratio of 1.48.

CBIZ (NYSE:CBZ - Get Free Report) last released its earnings results on Thursday, August 1st. The business services provider reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.68 by ($0.29). The business had revenue of $420.00 million during the quarter, compared to the consensus estimate of $430.38 million. CBIZ had a net margin of 7.12% and a return on equity of 14.58%. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business posted $0.55 EPS. As a group, research analysts forecast that CBIZ, Inc. will post 2.64 EPS for the current year.

Institutional Trading of CBIZ

Several institutional investors and hedge funds have recently added to or reduced their stakes in CBZ. AQR Capital Management LLC lifted its position in shares of CBIZ by 1.2% in the second quarter. AQR Capital Management LLC now owns 14,960 shares of the business services provider's stock valued at $1,109,000 after buying an additional 176 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in CBIZ by 1.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,235 shares of the business services provider's stock valued at $1,203,000 after purchasing an additional 185 shares during the last quarter. Inspire Investing LLC boosted its position in CBIZ by 4.2% during the second quarter. Inspire Investing LLC now owns 4,757 shares of the business services provider's stock worth $352,000 after purchasing an additional 190 shares during the period. Covestor Ltd increased its holdings in shares of CBIZ by 45.5% in the first quarter. Covestor Ltd now owns 707 shares of the business services provider's stock valued at $56,000 after purchasing an additional 221 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of 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. 87.44% of the stock is 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.