Neuberger Berman Group LLC Acquires 9,060 Shares of CBIZ, Inc. $CBZ

Key Points

• Neuberger Berman Group LLC increased its stake in CBIZ, Inc. by 6.9%, owning approximately $10.58 million worth of shares after acquiring an additional 9,060 shares in the 1st quarter.
• CBIZ reported $0.95 earnings per share for the recent quarter, exceeding analysts' expectations, with a revenue of $683.50 million, though below the consensus estimate of $701.43 million.
• Director Rodney A. Young purchased 2,000 shares of CBIZ at an average price of $62.43, increasing his holdings by 31.70%, highlighting insider confidence in the company.

Neuberger Berman Group LLC grew its holdings in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 6.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 139,445 shares of the business services provider's stock after purchasing an additional 9,060 shares during the period. Neuberger Berman Group LLC owned approximately 0.26% of CBIZ worth $10,578,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CBZ. Wellington Management Group LLP purchased a new position in CBIZ in the 4th quarter worth approximately $32,859,000. Capital World Investors raised its holdings in CBIZ by 37.6% in the 4th quarter. Capital World Investors now owns 1,134,585 shares of the business services provider's stock worth $92,843,000 after acquiring an additional 309,785 shares during the last quarter. Nuveen LLC purchased a new position in CBIZ in the 1st quarter worth approximately $23,494,000. Waters Parkerson & CO. LLC purchased a new position in CBIZ in the 4th quarter worth approximately $23,383,000. Finally, SG Capital Management LLC purchased a new position in CBIZ in the 4th quarter worth approximately $20,543,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Rodney A. Young bought 2,000 shares of the business's stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $62.43 per share, with a total value of $124,860.00. Following the transaction, 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.95% of the company's stock.

CBIZ Stock Performance

NYSE:CBZ traded up $0.0450 during trading hours on Wednesday, reaching $63.9650. The company had a trading volume of 448,527 shares, compared to its average volume of 770,923. 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 firm has a market cap of $3.45 billion, a price-to-earnings ratio of 36.76 and a beta of 0.92. The firm's 50 day moving average price is $69.54 and its 200-day moving average price is $73.53.

CBIZ (NYSE:CBZ - Get Free Report) last posted its earnings results on Wednesday, July 30th. The business services provider reported $0.95 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $701.43 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The firm's revenue was up 62.7% on a year-over-year basis. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. On average, analysts forecast that CBIZ, Inc. will post 2.65 EPS for the current year.

Wall Street Analyst Weigh In

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

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.