BidaskClub cut shares of CBIZ, Inc. (NYSE:CBZ) from a hold rating to a sell rating in a research report released on Wednesday morning.

A number of other equities research analysts also recently issued reports on CBZ. Zacks Investment Research downgraded CBIZ from a buy rating to a hold rating in a research report on Tuesday, April 18th. ValuEngine raised CBIZ from a hold rating to a buy rating in a research report on Friday, June 2nd.

Shares of CBIZ (NYSE:CBZ) traded up 0.35% during mid-day trading on Wednesday, hitting $14.50. The company’s stock had a trading volume of 296,224 shares. CBIZ has a 1-year low of $10.73 and a 1-year high of $15.90. The company has a 50-day moving average of $14.99 and a 200 day moving average of $14.46. The company has a market cap of $787.74 million, a price-to-earnings ratio of 17.16 and a beta of 0.91.

CBIZ (NYSE:CBZ) last posted its earnings results on Thursday, August 3rd. The business services provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. CBIZ had a return on equity of 9.42% and a net margin of 5.54%. The company had revenue of $211 million for the quarter, compared to the consensus estimate of $207.42 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts expect that CBIZ will post $0.87 EPS for the current year.

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In related news, Director Donald V. Weir sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $15.22, for a total transaction of $152,200.00. Following the sale, the director now owns 25,763 shares of the company’s stock, valued at $392,112.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ware H. Grove sold 22,927 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $15.25, for a total value of $349,636.75. Following the sale, the insider now directly owns 262,673 shares in the company, valued at approximately $4,005,763.25. The disclosure for this sale can be found here. Insiders have sold 77,927 shares of company stock worth $1,182,297 in the last three months. 7.20% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. State Street Corp increased its stake in shares of CBIZ by 12.0% in the fourth quarter. State Street Corp now owns 896,848 shares of the business services provider’s stock worth $12,286,000 after buying an additional 96,072 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of CBIZ by 6.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 35,615 shares of the business services provider’s stock worth $488,000 after buying an additional 2,057 shares in the last quarter. Norges Bank bought a new stake in shares of CBIZ during the fourth quarter worth about $9,981,000. Teachers Advisors LLC increased its stake in shares of CBIZ by 23.6% in the fourth quarter. Teachers Advisors LLC now owns 124,786 shares of the business services provider’s stock worth $1,710,000 after buying an additional 23,818 shares in the last quarter. Finally, Fenimore Asset Management Inc. bought a new stake in shares of CBIZ during the first quarter worth about $6,867,000. 84.77% of the stock is currently owned by institutional investors and hedge funds.

About CBIZ

CBIZ, Inc (CBIZ) is engaged in the professional services business. The Company operates its professional services business through acquiring and integrating accounting and financial service providers, group health benefits consulting firms, property and casualty brokerage firms, payroll service providers, and valuation and other service firms throughout the United States.

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