CBIZ (NYSE:CBZ) Hits New 52-Week High – Time to Buy?

Shares of CBIZ, Inc. (NYSE:CBZ) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $86.55 and last traded at $85.80, with a volume of 31479 shares trading hands. The stock had previously closed at $85.42.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of CBIZ from a “sell” rating to a “hold” rating in a research report on Friday, December 27th.

CBIZ Stock Up 0.4 %

The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $81.74 and a 200 day moving average of $75.08. The firm has a market cap of $4.30 billion, a P/E ratio of 36.34 and a beta of 0.95.

CBIZ (NYSE:CBZ) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $440.16 million. During the same period in the prior year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts predict that CBIZ, Inc. will post 2.65 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC raised its holdings in CBIZ by 55.8% during the third quarter. Signaturefd LLC now owns 961 shares of the business services provider’s stock valued at $65,000 after acquiring an additional 344 shares during the period. Quarry LP boosted its holdings in shares of CBIZ by 6,335.3% in the 3rd quarter. Quarry LP now owns 1,094 shares of the business services provider’s stock valued at $74,000 after buying an additional 1,077 shares in the last quarter. KBC Group NV grew its stake in shares of CBIZ by 29.7% during the third quarter. KBC Group NV now owns 1,553 shares of the business services provider’s stock worth $105,000 after acquiring an additional 356 shares during the last quarter. US Bancorp DE boosted 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 buying an additional 249 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in CBIZ by 31.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,227 shares of the business services provider’s stock worth $182,000 after acquiring an additional 529 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

CBIZ Company Profile

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.