While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One company value investors might notice is CBIZ (CBZ Quick QuoteCBZ - Free Report) . CBZ is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A.

Investors should also recognize that CBZ has a P/B ratio of 1.53. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 4.56. Over the past year, CBZ's P/B has been as high as 4.51 and as low as 1.53, with a median of 2.16.

Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. CBZ has a P/S ratio of 1.07. This compares to its industry's average P/S of 1.13.

Value investors will likely look at more than just these metrics, but the above data helps show that CBIZ is likely undervalued currently. And when considering the strength of its earnings outlook, CBZ sticks out as one of the market's strongest value stocks.