CBIZ, Inc. $CBZ Shares Sold by Laurus Global Equity Management Inc.

Laurus Global Equity Management Inc. trimmed its stake in shares of CBIZ, Inc. (NYSE:CBZ) by 44.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,820 shares of the business services provider’s stock after selling 6,200 shares during the period. Laurus Global Equity Management Inc.’s holdings in CBIZ were worth $561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Burgundy Asset Management Ltd. boosted its holdings in CBIZ by 6.7% during the first quarter. Burgundy Asset Management Ltd. now owns 2,220,266 shares of the business services provider’s stock worth $168,429,000 after buying an additional 138,886 shares in the last quarter. BloombergSen Inc. grew its position in shares of CBIZ by 9.5% during the 2nd quarter. BloombergSen Inc. now owns 1,119,362 shares of the business services provider’s stock valued at $80,269,000 after acquiring an additional 96,982 shares during the period. GW&K Investment Management LLC raised its holdings in CBIZ by 9.7% in the 1st quarter. GW&K Investment Management LLC now owns 893,516 shares of the business services provider’s stock worth $67,782,000 after purchasing an additional 78,811 shares during the period. Artemis Investment Management LLP boosted its position in CBIZ by 60.4% during the first quarter. Artemis Investment Management LLP now owns 631,893 shares of the business services provider’s stock worth $47,935,000 after purchasing an additional 237,983 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in CBIZ by 3.9% during the first quarter. Bessemer Group Inc. now owns 427,923 shares of the business services provider’s stock worth $32,463,000 after purchasing an additional 16,220 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insiders Place Their Bets

In related news, Director Rodney A. Young bought 2,000 shares of the stock in a transaction dated Friday, August 8th. The shares were acquired at an average cost of $62.43 per share, for a total transaction of $124,860.00. Following the acquisition, the director directly owned 8,310 shares in the company, valued at approximately $518,793.30. This trade represents a 31.70% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.95% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CBZ. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CBIZ in a research note on Saturday, September 27th. William Blair reissued an “outperform” rating on shares of CBIZ in a report on Friday, September 5th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

CBIZ Trading Up 3.4%

Shares of CBZ stock opened at $56.71 on Monday. CBIZ, Inc. has a fifty-two week low of $50.51 and a fifty-two week high of $90.13. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 1.60. The stock’s fifty day moving average is $60.62 and its two-hundred day moving average is $68.57. The firm has a market capitalization of $3.06 billion, a P/E ratio of 32.59 and a beta of 0.90.

CBIZ (NYSE:CBZ) last released its earnings results on Wednesday, July 30th. The business services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.11. The business had revenue of $683.50 million during the quarter, compared to analyst estimates of $701.43 million. CBIZ had a net margin of 4.51% and a return on equity of 14.73%. The company’s revenue for the quarter was up 62.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 earnings per share. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. Research analysts expect that CBIZ, Inc. will post 2.65 earnings per share for the current fiscal year.

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.