Burgundy Asset Management Ltd. Has $168.43 Million Stock Holdings in CBIZ, Inc. $CBZ

Key Points

• Burgundy Asset Management Ltd. has increased its position in CBIZ, Inc. by 6.7% to approximately $168.4 million, making it the 20th largest position in its portfolio.
• CBIZ's recent quarterly earnings surpassed expectations with an earnings per share of $0.95, significantly higher than the consensus estimate of $0.84.
• Insider activity saw Director Rodney A. Young acquire 2,000 shares at an average price of $62.43, boosting his ownership in the company by 31.7%.

Burgundy Asset Management Ltd. boosted its position in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,220,266 shares of the business services provider's stock after purchasing an additional 138,886 shares during the period. CBIZ accounts for 1.7% of Burgundy Asset Management Ltd.'s investment portfolio, making the stock its 20th biggest holding. Burgundy Asset Management Ltd. owned 4.08% of CBIZ worth $168,429,000 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 the company. Whittier Trust Co. acquired a new stake in shares of CBIZ during the 1st quarter valued at $34,000. McIlrath & Eck LLC boosted its stake in shares of CBIZ by 193.2% during the 4th quarter. McIlrath & Eck LLC now owns 557 shares of the business services provider's stock valued at $46,000 after buying an additional 367 shares during the period. Olde Wealth Management LLC acquired a new stake in shares of CBIZ during the 1st quarter valued at $55,000. 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. Finally, ArrowMark Colorado Holdings LLC acquired a new stake in shares of CBIZ during the 4th quarter valued at $204,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

CBIZ Price Performance

CBIZ stock traded up $2.1260 during trading hours on Friday, hitting $66.8260. 262,512 shares of the stock were exchanged, compared to its average volume of 459,252. CBIZ, Inc. has a 12 month low of $56.83 and a 12 month high of $90.13. The business's 50-day moving average is $69.46 and its two-hundred day moving average is $73.38. The stock has a market capitalization of $3.61 billion, a P/E ratio of 38.37 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 announced 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. CBIZ had a net margin of 4.51% and a return on equity of 14.73%. The business had revenue of $683.50 million for the quarter, compared to analyst estimates of $701.43 million. During the same period in the prior year, the business posted $0.39 earnings per share. CBIZ's 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. Equities research analysts expect that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Rodney A. Young bought 2,000 shares of the business's stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $62.43 per share, for a total transaction of $124,860.00. Following the completion of the acquisition, the director owned 8,310 shares in the company, valued at approximately $518,793.30. This trade represents a 31.70% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.95% of the stock is owned by corporate insiders.

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.