CBIZ, Inc. $CBZ Holdings Trimmed by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC has reduced its stake in CBIZ, Inc. by 11.3%, now owning 753,505 shares valued at approximately $54.55 million.
• CBIZ's stock has seen a recent 2.1% increase, currently trading at $54.39, with a market cap of $2.94 billion and a PE ratio of 31.26.
• The company reported an earnings per share (EPS) of $0.95 for its most recent quarter, surpassing analysts' estimates, while revenues were up 62.7% compared to the same quarter last year.

Allspring Global Investments Holdings LLC trimmed its position in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 11.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 753,505 shares of the business services provider's stock after selling 95,549 shares during the period. Allspring Global Investments Holdings LLC owned 1.39% of CBIZ worth $54,554,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CBZ. Quarry LP purchased a new position in CBIZ during the 1st quarter worth approximately $26,000. MAI Capital Management grew its position in CBIZ by 243.9% during the 1st quarter. MAI Capital Management now owns 423 shares of the business services provider's stock worth $32,000 after purchasing an additional 300 shares in the last quarter. Whittier Trust Co. acquired a new stake in shares of CBIZ during the 1st quarter valued at $34,000. Olde Wealth Management LLC acquired a new stake in shares of CBIZ during the 1st quarter valued at $55,000. Finally, Assetmark Inc. boosted its stake in shares of CBIZ by 19.9% during the 1st quarter. Assetmark Inc. now owns 905 shares of the business services provider's stock valued at $69,000 after buying an additional 150 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CBZ. Weiss Ratings reissued a "hold (c-)" rating on shares of CBIZ in a research note on Wednesday, October 8th. William Blair reissued an "outperform" rating on shares of CBIZ in a research note on Friday, September 5th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

CBIZ Stock Up 2.1%

CBZ stock opened at $54.39 on Wednesday. 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, Inc. has a 1 year low of $50.51 and a 1 year high of $90.13. The company has a fifty day simple moving average of $58.77 and a 200 day simple moving average of $67.67. The firm has a market cap of $2.94 billion, a PE ratio of 31.26 and a beta of 0.90.

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, beating the consensus estimate of $0.84 by $0.11. CBIZ had a net margin of 4.51% and a return on equity of 14.73%. The business had revenue of $683.50 million during the quarter, compared to analyst estimates of $701.43 million. During the same quarter in the previous year, the business earned $0.39 EPS. CBIZ's quarterly revenue was up 62.7% compared to the same quarter last year. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. Sell-side analysts anticipate that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Insider Activity

In other CBIZ news, Director Rodney A. Young acquired 2,000 shares of CBIZ stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average price of $62.43 per share, with a total value of $124,860.00. Following the purchase, the director owned 8,310 shares in the company, valued at approximately $518,793.30. This trade represents a 31.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.95% of the company's stock.

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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