Great Lakes Advisors LLC Sells 9,234 Shares of CBIZ, Inc. $CBZ

Key Points

• Great Lakes Advisors LLC reduced its stock holdings in CBIZ, Inc. by 19.9%, now owning 37,073 shares valued at approximately $2.8 million.
• Institutional investors control 87.44% of CBIZ's stock, highlighting significant institutional interest in the company.
• CBIZ reported earnings per share (EPS) of $0.95, surpassing expectations, and anticipates a future EPS of 3.600-3.650 for FY 2025.

Great Lakes Advisors LLC decreased its holdings in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 19.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,073 shares of the business services provider's stock after selling 9,234 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.07% of CBIZ worth $2,812,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CBZ. Quarry LP acquired a new stake in shares of CBIZ during the 1st quarter worth about $26,000. MAI Capital Management grew its position in shares of CBIZ by 243.9% in the first quarter. MAI Capital Management now owns 423 shares of the business services provider's stock valued at $32,000 after purchasing an additional 300 shares during the last quarter. Whittier Trust Co. bought a new position in shares of CBIZ during the first quarter worth approximately $34,000. McIlrath & Eck LLC lifted its holdings in CBIZ by 193.2% during the 4th quarter. McIlrath & Eck LLC now owns 557 shares of the business services provider's stock worth $46,000 after purchasing an additional 367 shares during the last quarter. Finally, Olde Wealth Management LLC bought a new stake in CBIZ in the 1st quarter valued at $55,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CBIZ news, Director Rodney A. Young bought 2,000 shares of the firm's stock in a transaction on Friday, August 8th. The shares were purchased 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. The trade was a 31.70% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.95% of the stock is owned by company insiders.

CBIZ Price Performance

Shares of NYSE:CBZ traded down $2.15 during midday trading on Friday, hitting $55.79. The stock had a trading volume of 455,239 shares, compared to its average volume of 500,556. The company's 50-day moving average price is $66.59 and its 200-day moving average price is $70.54. The company has a market capitalization of $3.01 billion, a P/E ratio of 32.06 and a beta of 0.95. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.79. CBIZ, Inc. has a fifty-two week low of $55.59 and a fifty-two week high of $90.13.

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 (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 business had revenue of $683.50 million for the quarter, compared to analysts' expectations of $701.43 million. During the same period last year, the firm posted $0.39 earnings per share. The firm'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. As a group, equities research analysts predict that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, William Blair reiterated an "outperform" rating on shares of CBIZ in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy".

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.