CBIZ, Inc. $CBZ Shares Sold by Great Lakes Advisors LLC

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 reduced its position in CBIZ, Inc. (NYSE:CBZ - Free Report) by 19.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,073 shares of the business services provider's stock after selling 9,234 shares during the quarter. Great Lakes Advisors LLC owned about 0.07% of CBIZ worth $2,812,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CBZ. Quarry LP purchased a new position in CBIZ in the first quarter valued at about $26,000. MAI Capital Management raised its position in 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 period. Whittier Trust Co. purchased a new position in CBIZ in the first quarter valued at about $34,000. McIlrath & Eck LLC raised its position in CBIZ by 193.2% in the fourth quarter. McIlrath & Eck LLC now owns 557 shares of the business services provider's stock valued at $46,000 after purchasing an additional 367 shares during the period. Finally, Olde Wealth Management LLC purchased a new position in CBIZ in the first quarter valued at about $55,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, Director Rodney A. Young purchased 2,000 shares of the firm'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 of the company's stock, valued at approximately $518,793.30. This trade represents a 31.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.95% of the company's stock.

CBIZ Stock Up 0.4%

Shares of NYSE CBZ traded up $0.23 during midday trading on Tuesday, reaching $54.51. 73,560 shares of the company's stock were exchanged, compared to its average volume of 468,293. CBIZ, Inc. has a 52-week low of $53.92 and a 52-week high of $90.13. The stock has a market capitalization of $2.94 billion, a PE ratio of 31.32 and a beta of 0.95. 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 business's fifty day moving average price is $66.20 and its two-hundred day moving average price is $70.32.

CBIZ (NYSE:CBZ - Get Free Report) last announced its earnings results on Wednesday, July 30th. The business services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.11. CBIZ had a return on equity of 14.73% and a net margin of 4.51%.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 previous year, the company earned $0.39 earnings per share. The company's revenue for the quarter was up 62.7% compared to the same quarter last year. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. Analysts forecast that CBIZ, Inc. will post 2.65 EPS for the current year.

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.