Cannon Global Investment Management LLC Invests $466,000 in CBIZ, Inc. $CBZ

Key Points

• Cannon Global Investment Management LLC invested $466,000 in CBIZ, Inc., acquiring 6,500 shares of the business services provider during the 2nd quarter.
• Institutional investors and hedge funds collectively own 87.44% of CBIZ's stock, with several firms like Montrusco Bolton Investments and Vanguard increasing their positions significantly.
• CBIZ reported $0.95 earnings per share for the last quarter, exceeding consensus estimates, and its revenue saw a substantial 62.7% year-over-year increase.

Cannon Global Investment Management LLC purchased a new stake in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,500 shares of the business services provider's stock, valued at approximately $466,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Montrusco Bolton Investments Inc. acquired a new position in shares of CBIZ during the 2nd quarter valued at about $16,736,000. Vanguard Personalized Indexing Management LLC lifted its position in CBIZ by 148.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,993 shares of the business services provider's stock valued at $1,290,000 after buying an additional 10,754 shares during the last quarter. Inspire Investing LLC lifted its position in CBIZ by 20.4% in the second quarter. Inspire Investing LLC now owns 5,455 shares of the business services provider's stock valued at $391,000 after buying an additional 924 shares during the last quarter. Callan Family Office LLC lifted its position in CBIZ by 25.3% in the second quarter. Callan Family Office LLC now owns 15,568 shares of the business services provider's stock valued at $1,116,000 after buying an additional 3,145 shares during the last quarter. Finally, Blair William & Co. IL lifted its position in CBIZ by 1.6% in the second quarter. Blair William & Co. IL now owns 434,498 shares of the business services provider's stock valued at $31,158,000 after buying an additional 6,893 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on CBZ. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of CBIZ in a research report on Wednesday, October 8th. William Blair reissued an "outperform" rating on shares of CBIZ in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, CBIZ has a consensus rating of "Moderate Buy".

Insider Buying and Selling

In other news, Director Rodney A. Young purchased 2,000 shares of the company's stock in a transaction dated Friday, August 8th. The stock was acquired at an average price of $62.43 per share, for a total transaction of $124,860.00. Following the completion of the transaction, the director directly owned 8,310 shares in the company, valued at $518,793.30. This represents a 31.70% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 4.95% of the company's stock.

CBIZ Price Performance

CBZ stock opened at $51.13 on Friday. The company has a market capitalization of $2.76 billion, a P/E ratio of 29.39 and a beta of 0.90. CBIZ, Inc. has a twelve month low of $50.51 and a twelve month high of $90.13. The business has a 50 day simple moving average of $58.17 and a 200-day simple moving average of $67.24. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79.

CBIZ (NYSE:CBZ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The business services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.11. CBIZ had a return on equity of 14.73% and a net margin of 4.51%.The firm had revenue of $683.50 million during the quarter, compared to the consensus estimate of $701.43 million. During the same period last year, the company earned $0.39 earnings per share. The company's revenue for the quarter was up 62.7% on a year-over-year basis. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. As a group, equities analysts anticipate that CBIZ, Inc. will post 2.65 EPS for the current year.

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.

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