CBIZ (CBZ) Reaches New 52-Week High at $24.38
CBIZ, Inc. (NYSE:CBZ) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $24.38 and last traded at $24.25, with a volume of 662964 shares. The stock had previously closed at $23.65.
CBZ has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of CBIZ from a “sell” rating to a “hold” rating in a research note on Monday, September 3rd. William Blair initiated coverage on shares of CBIZ in a research note on Monday. They issued an “outperform” rating on the stock. Finally, Sidoti initiated coverage on shares of CBIZ in a research note on Tuesday, June 12th. They issued a “buy” rating on the stock.
The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $1.31 billion, a PE ratio of 27.53 and a beta of 0.62.
In other news, insider Michael W. Gleespen sold 27,000 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $23.42, for a total transaction of $632,340.00. Following the completion of the transaction, the insider now directly owns 118,880 shares of the company’s stock, valued at approximately $2,784,169.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ware H. Grove sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $22.70, for a total transaction of $454,000.00. The disclosure for this sale can be found here. Insiders sold a total of 102,841 shares of company stock worth $2,414,914 over the last 90 days. Company insiders own 7.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of CBIZ during the 1st quarter worth about $182,000. Bowling Portfolio Management LLC bought a new position in shares of CBIZ during the 2nd quarter worth about $222,000. Macquarie Group Ltd. lifted its holdings in shares of CBIZ by 89.6% during the 2nd quarter. Macquarie Group Ltd. now owns 9,976 shares of the business services provider’s stock worth $229,000 after acquiring an additional 4,715 shares during the period. V Wealth Management LLC bought a new position in shares of CBIZ during the 2nd quarter worth about $255,000. Finally, GSA Capital Partners LLP bought a new position in shares of CBIZ during the 1st quarter worth about $264,000. 86.92% of the stock is owned by institutional investors.
CBIZ Company Profile (NYSE:CBZ)
CBIZ, Inc, through its subsidiaries, provides professional business services, products, and solutions in the United States and Canada. It offers its services through three practice groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services practice group provides accounting and tax compliance and consulting, litigation support, federal and state governmental healthcare compliance, valuation services, real estate consulting, and internal audit outsourcing services.
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