BloombergSen Inc. Purchases 96,982 Shares of CBIZ, Inc. $CBZ

Key Points

• BloombergSen Inc. increased its stake in CBIZ, Inc. by 9.5% in the 2nd quarter, owning a total of 1,119,362 shares worth approximately $80.27 million.
• CBIZ reported a quarterly earnings per share (EPS) of $0.95, surpassing analysts' expectations of $0.84, with revenue totaling $683.50 million.
• The company's stock has experienced significant trading activity, with 87.44% of its shares held by institutional investors and hedge funds.

BloombergSen Inc. boosted its position in CBIZ, Inc. (NYSE:CBZ - Free Report) by 9.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,119,362 shares of the business services provider's stock after purchasing an additional 96,982 shares during the quarter. CBIZ comprises about 4.9% of BloombergSen Inc.'s portfolio, making the stock its 11th biggest holding. BloombergSen Inc. owned approximately 2.06% of CBIZ worth $80,269,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in CBIZ by 90.7% during the 1st quarter. Royal Bank of Canada now owns 396,278 shares of the business services provider's stock worth $30,062,000 after buying an additional 188,472 shares during the period. Alpha Wave Global LP bought a new stake in CBIZ in the 1st quarter valued at about $6,713,000. XTX Topco Ltd acquired a new position in shares of CBIZ during the 1st quarter worth approximately $1,043,000. Fiera Capital Corp grew its position in shares of CBIZ by 14.6% during the 1st quarter. Fiera Capital Corp now owns 234,522 shares of the business services provider's stock worth $17,791,000 after purchasing an additional 29,902 shares in the last quarter. Finally, Blair William & Co. IL increased its holdings in shares of CBIZ by 1.1% during the first quarter. Blair William & Co. IL now owns 427,605 shares of the business services provider's stock worth $32,438,000 after purchasing an additional 4,739 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

CBIZ Price Performance

CBZ stock opened at $55.11 on Thursday. The company has a 50 day simple moving average of $61.47 and a 200 day simple moving average of $68.85. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 31.67 and a beta of 0.90. CBIZ, Inc. has a 1 year low of $50.51 and a 1 year high of $90.13. 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 (NYSE:CBZ - Get Free Report) last released its quarterly earnings data 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 analysts' expectations of $701.43 million. CBIZ had a net margin of 4.51% and a return on equity of 14.73%. The firm's quarterly revenue was up 62.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 EPS. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. Research analysts anticipate that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Insider Transactions at CBIZ

In other CBIZ news, Director Rodney A. Young purchased 2,000 shares of the firm's stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $62.43 per share, for a total transaction of $124,860.00. Following the transaction, the director owned 8,310 shares in the company, valued at $518,793.30. The trade was a 31.70% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 4.95% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, William Blair reiterated an "outperform" rating on shares of CBIZ in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy".

CBIZ 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.

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