CBIZ (NYSE:CBZ) Shares Pass Above 200-Day Moving Average – What’s Next?

CBIZ, Inc. (NYSE:CBZ) crossed 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 changing hands.

Analysts Set New Price Targets

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

CBIZ Price Performance

The company has a market cap of $4.21 billion, a PE ratio of 35.55 and a beta of 0.95. The firm has a 50 day simple moving average of $80.51 and a 200-day simple moving average of $74.43. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.36.

CBIZ (NYSE:CBZ) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $438.90 million during the quarter, compared to analyst estimates of $440.16 million. CBIZ had a net margin of 7.08% and a return on equity of 15.12%. CBIZ’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 EPS. As a group, research analysts predict that CBIZ, Inc. will post 2.65 earnings per share for the current fiscal year.

Institutional Trading of CBIZ

A number of institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC increased its position in CBIZ by 1.2% during the 2nd 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 in the last quarter. Inspire Investing LLC grew its stake in shares of 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 acquiring an additional 190 shares during the last quarter. US Bancorp DE increased its holdings in shares of CBIZ by 16.1% during the third quarter. US Bancorp DE now owns 1,796 shares of the business services provider’s stock valued at $121,000 after acquiring an additional 249 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of CBIZ by 1.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,514 shares of the business services provider’s stock valued at $1,111,000 after purchasing an additional 279 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in CBIZ by 55.8% in the 3rd quarter. Signaturefd LLC now owns 961 shares of the business services provider’s stock worth $65,000 after purchasing an additional 344 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

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.