Last $8.57 USD
Change Today -0.04 / -0.46%
Volume 52.0K
CBZ On Other Exchanges
Symbol
Exchange
New York
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As of 11:55 AM 10/21/14 All times are local (Market data is delayed by at least 15 minutes).

cbiz inc (CBZ) Snapshot

Open
$8.64
Previous Close
$8.61
Day High
$8.64
Day Low
$8.47
52 Week High
03/12/14 - $9.45
52 Week Low
10/22/13 - $7.25
Market Cap
422.8M
Average Volume 10 Days
222.9K
EPS TTM
$0.46
Shares Outstanding
49.3M
EX-Date
--
P/E TM
18.5x
Dividend
--
Dividend Yield
--
Current Stock Chart for CBIZ INC (CBZ)

cbiz inc (CBZ) Related Bloomberg News

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cbiz inc (CBZ) Details

CBIZ, Inc., through its subsidiaries, operates as a diversified services company in the United States and Canada. The company provides professional business services, products, and solutions to small and medium-sized businesses, individuals, governmental entities, and not-for-profit enterprises. It delivers its integrated services through three practice groups: Financial Services, Employee Services, and National Practices. The Financial Services practice group offers accounting, tax, financial advisory, valuation, litigation support, government health care consulting, and risk and real estate advisory services. The Employee Services practice group provides employee benefits, property and casualty, retirement plan, payroll, life insurance, human capital, compensation consulting, executive recruiting, and actuarial services. The National Practices practice group offers managed networking and hardware, and health care consulting services. CBIZ, Inc. was founded in 1987 and is headquartered in Cleveland, Ohio.

4,100 Employees
Last Reported Date: 03/14/14
Founded in 1987

cbiz inc (CBZ) Top Compensated Officers

Chairman, Chief Executive Officer and Member ...
Total Annual Compensation: $695.2K
President and Member of Executive Management ...
Total Annual Compensation: $620.1K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $453.7K
Senior Vice President and President of Employ...
Total Annual Compensation: $459.4K
Senior Vice President of Strategic Developmen...
Total Annual Compensation: $469.6K
Compensation as of Fiscal Year 2013.

cbiz inc (CBZ) Key Developments

CBIZ, Inc. Appoints John A. Fleischer as Chief Information Officer

CBIZ, Inc. announced that it has appointed John A. Fleischer as Chief Information Officer, effective August 25, 2014. As Chief Information Officer for the company, Mr. Fleischer will be responsible for overseeing the company's technology activities and initiatives required for the company to achieve its strategic business objectives and to further enhance its current position as one of the large accounting, insurance brokerage and valuation service providers in the nation. Mr. Fleischer is currently a member of the Society for Information Management, Northeast Ohio Chapter.

CBIZ Operations, Inc. and CBIZ, Inc. Enter into Credit Agreement

Effective July 28, 2014, CBIZ Operations, Inc. and CBIZ, Inc. entered into a Credit Agreement dated as of July 28, 2014 by and among the company, Bank of America, N.A., as administrative agent and bank, and other participating banks. The company replaced its $275 million unsecured credit facility a new $400 million unsecured credit facility. Below is a summary of the significant terms and changes from the existing facility: The maturity date for the new credit facility will be five years from closing (July 2019); Pricing has been reduced by 25 basis points; Total leverage ratio will continue to be set at 3.50x; senior leverage test will be eliminated; Total leverage can be increased under certain circumstances; Share repurchases are unlimited when total leverage is less than 3.0x; when leverage is greater than 3.0x, annual share repurchase basket is $25 million (increased from $15 million); Other investments basket increased from $10 million to $15 million; and other permitted debt baskets increased by 50%.

CBIZ, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year of 2014; Reaffirms Earnings Guidance for the Second Half of 2014

CBIZ, Inc. reported earnings results for the second quarter and six months ended June 30, 2014. For the second quarter, the company reported revenue of $180.9 million, an increase of $8.7 million, or 5.0%, compared with $172.2 million for the second quarter of 2013. Income from continuing operations was $6.2 million, or $0.12 per diluted share, compared with $5.6 million, or $0.11 per diluted share reported in the second quarter of 2013. Adjusted EBITDA for the quarter ended June 30, 2014 was $19.2 million, compared with $18.8 million for the 2013 second quarter. Operating income was $10.272 million compared to $13.489 million for the same period a year ago. Income from continuing operations before income tax expense was $10.699 million compared to $9.907 million for the same period a year ago. Net income was $6.107 million or $0.12 per diluted share compared to $9.147 million or $0.18 per diluted share for the same period a year ago. Adjusted EBIT was $14.208 million compared to $14.004 million for the same period a year ago. Non-GAAP earnings - continuing operations was $11.540 million or $0.22 per share compared to $12.584 million or $0.25 per share for the same period a year ago. Same-unit organic growth increased by $3.7 million, or by 2.1%, in the second quarter compared with a year ago. Capital spending was approximately $860,000. Adjusting to eliminate the impact of the additional share equivalents related to the convertible note, adjusted earnings per share was $0.13. For the six-months, the company reported revenue of $389.8 million, an increase of $16.4 million, or 4.4% over the $373.4 million recorded for the comparable six-month period a year ago. Income from continuing operations was $24.2 million, or $0.46 per diluted share, for the first six months of 2014 compared with $22.7 million, or $0.46 per diluted share, for the first six months of 2013. Adjusted EBITDA was $58.5 million for the six months ended June 30, 2014, compared with $56.9 million for the 2013 first half. Operating income was $42.734 million compared to $45.305 million for the same period a year ago. Income from continuing operations before income tax expense was $41.711 million compared to $39.413 million for the same period a year ago. Net income was $23.396 million or $0.45 per diluted share compared to $27.450 million or $0.55 per diluted share for the same period a year ago. Adjusted EBIT was $48.645 million compared to $47.548 million for the same period a year ago. Non-GAAP earnings - continuing operations was $35.536 million or $0.68 per share compared to $37.337 million or $0.75 per share for the same period a year ago. Same-unit organic revenue grew by 1.8% compared with the year ago. Capital spending was approximately $2.5 million. The company generated a positive cash flow from operating activities during the first half of this year. Adjusting to eliminate the additional share equivalents related to the convertible note, adjusted earnings per share was $0.49. In 2014, the company expects continued improvement in same-unit revenue growth rates, total revenue to grow within a range of 5% to 7%, and diluted earnings per share from continuing operations to grow within a range of 15% to 18% over 2013, assuming a constant share count compared with 2013. Cash flow will continue to be positive, and adjusted EBITDA is projected to increase within a range of 8% to 12% over the $75.6 million reported for 2013. The company continues to expect full year capital spending within a range of $5 million to $6 million. The company continues to expect a full year effective tax rate of approximately 40% as several favorable items are projected to occur in the second half of this year. Full year cash flow is expected to continue to be strong. The company continues to project a stronger second half of 2014.

 

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Industry Analysis

CBZ

Industry Average

Valuation CBZ Industry Range
Price/Earnings 16.4x
Price/Sales 0.6x
Price/Book 1.0x
Price/Cash Flow 5.2x
TEV/Sales 0.3x
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