A professional business services company
) recently announced the acquisition of Payroll Control Systems -
a leading provider of payroll tax, time and labour, and human
resources solutions with a customer base of 1400 across 50 states
- for an undisclosed amount.
CBIZ INC (CBZ): Free Stock Analysis Report
NATL FINL PTNRS (NFP): Free Stock Analysis
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With this acquisition, CBIZ will gain operational synergies and
look to address clients' needs for superior services and product
offerings. The strategic move by the company is aimed at
expanding its payroll business in the Midwest region, which will
further enhance the company's East operations in Roanoke,
Virginia, and West coast operations in Palm Desert, California.
The company expects that Payroll Control Systems' expertise
should prove beneficial in the long term and enable the company
to reach new heights with respect to ongoing services and
Earlier, in the last reported quarter, CBIZ reported revenues of
$183.8 million, up 3.6% from $177.3 million in the year-ago
quarter. The acquisition is expected to add approximately $6.0
million to its annual revenues.
CBIZ along with its subsidiaries provides professional business
services, products, and solutions to businesses, individuals,
governmental entities, and not-for-profit enterprises in the
United States and Canada. The company provides its clients with
financial services including accounting, tax and consulting,
internal audit, merger and acquisition advisory and valuation
services. The services of the company are provided through more
than 130 company offices in 37 states. CBIZ primarily focuses on
helping clients fulfil their needs and effectively manage their
finances and employees.
CBIZ currently has a Zacks #2 Rank (short-term Buy) and a
long-term Neutral recommendation. One of its competitors,
National Financial Partners Corp
) carries a Zacks #4 Rank (short-term Sell).