Laurus Global Equity Management Inc. Trims Holdings in CBIZ, Inc. $CBZ

Key Points

• Laurus Global Equity Management Inc. reduced its holdings in CBIZ, Inc. by 44.2% in the second quarter, ending up with 7,820 shares valued at $561,000.
• Analyst ratings for CBIZ currently reflect a consensus of "Moderate Buy," with one analyst rating the stock as a Buy and another as a Hold.
• CBIZ recently reported strong earnings with $0.95 earnings per share, surpassing analysts' expectations, while the company set FY 2025 guidance between 3.600-3.650 EPS.

Laurus Global Equity Management Inc. trimmed its holdings in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 44.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,820 shares of the business services provider's stock after selling 6,200 shares during the quarter. Laurus Global Equity Management Inc.'s holdings in CBIZ were worth $561,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Quarry LP bought a new stake in CBIZ during the 1st quarter valued at about $26,000. MAI Capital Management increased its stake in shares of CBIZ by 243.9% during the first quarter. MAI Capital Management now owns 423 shares of the business services provider's stock valued at $32,000 after buying an additional 300 shares during the period. Whittier Trust Co. purchased a new stake in shares of CBIZ in the 1st quarter worth approximately $34,000. Olde Wealth Management LLC purchased a new position in CBIZ during the first quarter valued at approximately $55,000. Finally, Assetmark Inc. boosted its position in 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 acquiring an additional 150 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on CBZ shares. Weiss Ratings reissued a "hold (c-)" rating on shares of CBIZ in a research report on Saturday, September 27th. William Blair reiterated an "outperform" rating on shares of CBIZ in a report on Friday, September 5th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy".

Insiders Place Their Bets

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

CBIZ Trading Up 3.4%

CBIZ stock opened at $56.71 on Monday. CBIZ, Inc. has a one year low of $50.51 and a one year high of $90.13. 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 stock has a market cap of $3.06 billion, a PE ratio of 32.59 and a beta of 0.90. The stock has a 50-day moving average of $60.62 and a two-hundred day moving average of $68.57.

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 analysts' consensus estimates of $0.84 by $0.11. The firm had revenue of $683.50 million for the quarter, compared to analyst estimates of $701.43 million. CBIZ had a net margin of 4.51% and a return on equity of 14.73%. The business's quarterly revenue was up 62.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. On average, research analysts anticipate that CBIZ, Inc. will post 2.65 EPS for the current fiscal 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.

Want to see what other hedge funds are holding CBZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBIZ, Inc. (NYSE:CBZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.