Allspring Global Investments Holdings LLC Decreases Stake in CBIZ, Inc. $CBZ

Allspring Global Investments Holdings LLC trimmed its holdings in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 82.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 173,726 shares of the business services provider's stock after selling 803,320 shares during the period. Allspring Global Investments Holdings LLC owned about 0.32% of CBIZ worth $4,593,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its stake in shares of CBIZ by 377.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 559 shares of the business services provider's stock valued at $30,000 after buying an additional 442 shares in the last quarter. Strategic Wealth Investment Group LLC acquired a new stake in shares of CBIZ during the second quarter valued at about $37,000. Danske Bank A S acquired a new position in shares of CBIZ in the third quarter worth about $42,000. Torren Management LLC acquired a new stake in CBIZ during the 4th quarter valued at approximately $48,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of CBIZ by 165.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 722 shares of the business services provider's stock valued at $52,000 after purchasing an additional 450 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

Analysts Set New Price Targets

CBZ has been the topic of several recent analyst reports. BMO Capital Markets assumed coverage on shares of CBIZ in a report on Monday, March 30th. They issued an "outperform" rating and a $33.00 price target on the stock. Zacks Research upgraded CBIZ from a "strong sell" rating to a "hold" rating in a research report on Friday, March 27th. Stephens set a $37.00 price objective on CBIZ in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $42.00 target price on shares of CBIZ in a report on Thursday, April 30th. Finally, Barrington Research initiated coverage on CBIZ in a research note on Wednesday, June 24th. They set an "outperform" rating and a $45.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $39.25.

CBIZ Price Performance

NYSE CBZ opened at $42.64 on Friday. CBIZ, Inc. has a 1 year low of $24.29 and a 1 year high of $77.91. The company has a fifty day simple moving average of $34.77 and a 200 day simple moving average of $33.80. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.77. The company has a market cap of $2.29 billion, a P/E ratio of 17.12, a P/E/G ratio of 0.85 and a beta of 0.99.

CBIZ (NYSE:CBZ - Get Free Report) last released its earnings results on Wednesday, April 29th. The business services provider reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.28 by $0.22. The firm had revenue of $848.58 million during the quarter, compared to analyst estimates of $853.46 million. CBIZ had a net margin of 5.57% and a return on equity of 12.62%. The business's revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.33 EPS. CBIZ has set its FY 2026 guidance at 4.000-4.100 EPS. On average, sell-side analysts predict that CBIZ, Inc. will post 4.07 EPS for the current year.

CBIZ Company Profile

CBIZ, Inc NYSE: CBZ, founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.

Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.

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