LPL Financial LLC Buys 18,027 Shares of CBIZ, Inc. $CBZ

Key Points

• LPL Financial LLC increased its stake in CBIZ, Inc. by 89.4%, owning 38,181 shares valued at approximately $2.81 million as of the latest SEC disclosure.
• CBIZ reported earnings of $0.95 per share for the last quarter, exceeding estimates, with revenues reaching $683.5 million, a 62.7% increase from the prior year.
• Institutional investors hold a significant majority of the company’s stock, with 87.44% of shares owned by such entities.

LPL Financial LLC increased its holdings in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 89.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,181 shares of the business services provider's stock after acquiring an additional 18,027 shares during the period. LPL Financial LLC owned approximately 0.07% of CBIZ worth $2,810,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Burgundy Asset Management Ltd. boosted its stake in CBIZ by 1.5% during the fourth quarter. Burgundy Asset Management Ltd. now owns 2,081,380 shares of the business services provider's stock worth $170,319,000 after acquiring an additional 31,253 shares in the last quarter. Capital World Investors boosted its stake in CBIZ by 37.6% during the fourth quarter. Capital World Investors now owns 1,134,585 shares of the business services provider's stock worth $92,843,000 after acquiring an additional 309,785 shares in the last quarter. Northern Trust Corp boosted its stake in CBIZ by 0.7% during the fourth quarter. Northern Trust Corp now owns 940,717 shares of the business services provider's stock worth $76,979,000 after acquiring an additional 6,540 shares in the last quarter. GW&K Investment Management LLC boosted its stake in CBIZ by 9.7% during the first quarter. GW&K Investment Management LLC now owns 893,516 shares of the business services provider's stock worth $67,782,000 after acquiring an additional 78,811 shares in the last quarter. Finally, Artemis Investment Management LLP boosted its stake in CBIZ by 60.4% during the first quarter. Artemis Investment Management LLP now owns 631,893 shares of the business services provider's stock worth $47,935,000 after acquiring an additional 237,983 shares in the last quarter. Institutional investors own 87.44% of the company's stock.

Analysts Set New Price Targets

Separately, William Blair reissued an "outperform" rating on shares of CBIZ in a research note on Friday, April 25th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy".

Insiders Place Their Bets

In related news, Director Rodney A. Young acquired 2,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were bought 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 approximately $518,793.30. This trade represents a 31.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.95% of the stock is currently owned by company insiders.

CBIZ Stock Up 2.8%

Shares of NYSE:CBZ traded up $1.8220 during trading on Friday, reaching $66.5220. 508,623 shares of the stock traded hands, compared to its average volume of 758,712. The stock has a 50-day moving average of $69.41 and a two-hundred day moving average of $73.25. CBIZ, Inc. has a 52-week low of $56.83 and a 52-week high of $90.13. 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 stock has a market cap of $3.59 billion, a P/E ratio of 38.23 and a beta of 0.92.

CBIZ (NYSE:CBZ - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The business services provider reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.11. CBIZ had a net margin of 4.51% and a return on equity of 14.73%. The firm had revenue of $683.50 million for the quarter, compared to analysts' expectations of $701.43 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The business'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, sell-side analysts expect that CBIZ, Inc. will post 2.65 earnings per share for the current fiscal year.

CBIZ Company 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.