CBIZ, Inc. $CBZ Stake Increased by LPL Financial LLC

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 raised its holdings in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 89.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,181 shares of the business services provider's stock after purchasing an additional 18,027 shares during the period. LPL Financial LLC owned about 0.07% of CBIZ worth $2,810,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CBZ. Wells Fargo & Company MN increased its stake in CBIZ by 23.0% during the fourth quarter. Wells Fargo & Company MN now owns 42,803 shares of the business services provider's stock valued at $3,503,000 after purchasing an additional 8,014 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in CBIZ by 5.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 74,964 shares of the business services provider's stock valued at $6,134,000 after purchasing an additional 4,145 shares during the last quarter. Bank of Montreal Can bought a new stake in CBIZ during the fourth quarter valued at $240,000. Summit Investment Advisors Inc. boosted its holdings in shares of CBIZ by 4.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,014 shares of the business services provider's stock valued at $410,000 after acquiring an additional 231 shares during the period. Finally, Barclays PLC boosted its holdings in shares of CBIZ by 8.8% during the fourth quarter. Barclays PLC now owns 85,610 shares of the business services provider's stock valued at $7,005,000 after acquiring an additional 6,899 shares during the period. Institutional investors own 87.44% of the company's stock.

CBIZ Trading Down 0.2%

NYSE:CBZ opened at $62.49 on Monday. The stock's 50 day moving average price is $69.99 and its 200 day moving average price is $73.82. CBIZ, Inc. has a 52 week low of $56.83 and a 52 week high of $90.13. The company has a market capitalization of $3.37 billion, a P/E ratio of 35.91 and a beta of 0.92. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 1.60.

CBIZ (NYSE:CBZ - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.11. The company 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%. CBIZ's revenue for the quarter was up 62.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 earnings per share. On average, research analysts forecast that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Rodney A. Young bought 2,000 shares of CBIZ stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $62.43 per share, with a total value 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 trade represents a 31.70% increase in their ownership of the stock. The purchase 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.

Analyst Ratings Changes

Separately, William Blair reiterated an "outperform" rating on shares of CBIZ in a research note on Friday, April 25th.

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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