Royal Bank of Canada Acquires 188,472 Shares of CBIZ, Inc. $CBZ

Royal Bank of Canada raised its position in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 90.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 396,278 shares of the business services provider's stock after acquiring an additional 188,472 shares during the period. Royal Bank of Canada owned approximately 0.73% of CBIZ worth $30,062,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of CBIZ during the first quarter worth approximately $26,000. MAI Capital Management boosted its holdings in shares of CBIZ by 243.9% during the first quarter. MAI Capital Management now owns 423 shares of the business services provider's stock worth $32,000 after acquiring an additional 300 shares during the period. Whittier Trust Co. bought a new stake in shares of CBIZ during the first quarter worth approximately $34,000. McIlrath & Eck LLC boosted its holdings in shares of CBIZ by 193.2% during the fourth quarter. McIlrath & Eck LLC now owns 557 shares of the business services provider's stock worth $46,000 after acquiring an additional 367 shares during the period. Finally, Olde Wealth Management LLC bought a new stake in shares of CBIZ during the first quarter worth approximately $55,000. Institutional investors own 87.44% of the company's stock.

CBIZ Price Performance

Shares of CBZ stock traded down $2.15 during trading on Friday, hitting $55.79. The company had a trading volume of 455,239 shares, compared to its average volume of 500,556. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market capitalization of $3.01 billion, a P/E ratio of 32.06 and a beta of 0.95. The stock's 50-day moving average price is $66.59 and its 200 day moving average price is $70.61. CBIZ, Inc. has a one year low of $55.59 and a one year 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 14.73% and a net margin of 4.51%.The firm's revenue for the quarter was up 62.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 earnings per share. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. Equities analysts expect that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Insider Activity

In related news, Director Rodney A. Young purchased 2,000 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $62.43 per share, for a total transaction of $124,860.00. Following the completion of the purchase, the director owned 8,310 shares in the company, valued at approximately $518,793.30. This represents a 31.70% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.95% of the company's stock.

Wall Street Analyst Weigh In

Separately, William Blair restated an "outperform" rating on shares of CBIZ in a report on Friday, September 5th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy".

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.