Invesco Ltd. Sells 65,281 Shares of CBIZ, Inc. $CBZ

Key Points

• Invesco Ltd. reduced its stake in CBIZ, Inc. by 8.5% during the first quarter, owning approximately 1.29% of the company valued at $53.4 million after selling 65,281 shares.
• Several large investors, including Wells Fargo and Barclays PLC, increased their holdings in CBIZ, indicating strong institutional interest in the stock.
• CBIZ reported a 62.7% year-over-year revenue increase, with earnings of $0.95 per share for the last quarter, surpassing analysts' expectations.

Invesco Ltd. cut its position in CBIZ, Inc. (NYSE:CBZ - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 703,928 shares of the business services provider's stock after selling 65,281 shares during the period. Invesco Ltd. owned about 1.29% of CBIZ worth $53,400,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CBZ. Whittier Trust Co. acquired a new stake in CBIZ in the first quarter worth $34,000. McIlrath & Eck LLC raised its holdings in CBIZ by 193.2% in the fourth 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 period. Olde Wealth Management LLC acquired a new stake in CBIZ in the first quarter worth $55,000. Assetmark Inc. raised its holdings in CBIZ by 19.9% in the first quarter. Assetmark Inc. now owns 905 shares of the business services provider's stock worth $69,000 after purchasing an additional 150 shares during the period. Finally, ArrowMark Colorado Holdings LLC acquired a new stake in CBIZ in the fourth quarter worth $204,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, William Blair reiterated an "outperform" rating on shares of CBIZ in a report on Friday, April 25th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy".

Insider Activity

In related news, Director Rodney A. Young acquired 2,000 shares of the stock in a transaction dated Friday, August 8th. The stock was bought at an average price 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 of the company's stock, valued at approximately $518,793.30. The trade was a 31.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.95% of the stock is owned by corporate insiders.

CBIZ Stock Up 3.3%

Shares of CBZ stock traded up $2.1490 during trading hours on Friday, hitting $66.8490. 184,267 shares of the company were exchanged, compared to its average volume of 458,597. The business has a 50 day moving average of $69.46 and a two-hundred day moving average of $73.38. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79. 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 $3.61 billion, a PE ratio of 38.42 and a beta of 0.92.

CBIZ (NYSE:CBZ - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The business services provider reported $0.95 earnings per share (EPS) for the quarter, topping 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 company had revenue of $683.50 million during the quarter, compared to the consensus estimate of $701.43 million. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The firm'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. Analysts anticipate 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.