CBIZ (CBZ) Board Announces Stock Buyback Plan

CBIZ (NYSE:CBZ) announced that its Board of Directors has approved a share repurchase plan, which permits the company to repurchase 5,000,000 outstanding shares on Wednesday, February 14th, EventVestor reports. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Shares of CBIZ (NYSE CBZ) opened at $17.85 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $979.09, a PE ratio of 21.77 and a beta of 0.82. CBIZ has a 12-month low of $13.00 and a 12-month high of $18.33.

CBIZ (NYSE:CBZ) last released its earnings results on Thursday, February 15th. The business services provider reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $195.00 million for the quarter, compared to the consensus estimate of $191.40 million. CBIZ had a return on equity of 7.51% and a net margin of 4.75%. CBIZ’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) earnings per share. research analysts expect that CBIZ will post 1.06 EPS for the current year.

A number of research firms recently issued reports on CBZ. Zacks Investment Research raised CBIZ from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. ValuEngine downgraded CBIZ from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.

In other CBIZ news, Director Steven L. Gerard sold 33,731 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $15.02, for a total transaction of $506,639.62. Following the transaction, the director now owns 349,363 shares of the company’s stock, valued at $5,247,432.26. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Steven L. Gerard sold 26,423 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $15.03, for a total value of $397,137.69. Following the transaction, the director now directly owns 349,906 shares in the company, valued at approximately $5,259,087.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 105,053 shares of company stock worth $1,575,512. 6.90% of the stock is owned by company insiders.

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CBIZ Company Profile

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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