Alpha Wave Global LP Acquires New Position in CBIZ, Inc. $CBZ

Key Points

• Alpha Wave Global LP has acquired a new stake in CBIZ, Inc., purchasing 88,495 shares valued at approximately $6.7 million, making it the sixth largest holding in their investment portfolio.
• Several institutional investors, including Burgundy Asset Management and Artemis Investment Management, have also increased their positions in CBIZ, contributing to a total institutional ownership of 87.44% of the company's stock.
• CBIZ's recent earnings report showed an EPS of $0.95, beating estimates, and revenues increasing 62.7% year-over-year, while the company sets its FY 2025 guidance at 3.600-3.650 EPS.

Alpha Wave Global LP bought a new position in CBIZ, Inc. (NYSE:CBZ - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 88,495 shares of the business services provider's stock, valued at approximately $6,713,000. CBIZ makes up 3.0% of Alpha Wave Global LP's investment portfolio, making the stock its 6th largest position. Alpha Wave Global LP owned 0.16% of CBIZ as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Ameriprise Financial Inc. lifted its stake in shares of CBIZ by 24.9% in the 4th quarter. Ameriprise Financial Inc. now owns 54,518 shares of the business services provider's stock valued at $4,461,000 after purchasing an additional 10,861 shares during the period. XTX Topco Ltd purchased a new stake in CBIZ in the 1st quarter worth $1,043,000. Fiera Capital Corp increased its holdings in CBIZ by 14.6% in the 1st quarter. Fiera Capital Corp now owns 234,522 shares of the business services provider's stock worth $17,791,000 after acquiring an additional 29,902 shares in the last quarter. Pacific Capital Partners Ltd purchased a new stake in CBIZ in the 1st quarter worth $9,482,000. Finally, Blair William & Co. IL increased its holdings in CBIZ by 1.1% in the 1st quarter. Blair William & Co. IL now owns 427,605 shares of the business services provider's stock worth $32,438,000 after acquiring an additional 4,739 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

CBIZ Price Performance

NYSE CBZ traded up $0.01 on Friday, hitting $64.53. The company had a trading volume of 349,400 shares, compared to its average volume of 554,583. The company has a market capitalization of $3.48 billion, a PE ratio of 37.09 and a beta of 0.92. The company's fifty day moving average price is $69.09 and its 200-day moving average price is $72.35. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.60 and a quick ratio of 1.60. CBIZ, Inc. has a 12-month low of $56.83 and a 12-month high of $90.13.

CBIZ (NYSE:CBZ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The business services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.84 by $0.11. The company 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 firm's revenue was up 62.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. As a group, analysts predict that CBIZ, Inc. will post 2.65 earnings per share for the current year.

Insiders Place Their Bets

In other CBIZ news, Director Rodney A. Young purchased 2,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average cost of $62.43 per share, for a total transaction of $124,860.00. Following the completion of the transaction, the director owned 8,310 shares of the company's stock, valued at $518,793.30. The trade was a 31.70% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.95% of the company's stock.

About CBIZ

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.