Northern Trust Corp Sells 8,847 Shares of CBIZ, Inc. $CBZ

Key Points

• Northern Trust Corp reduced its stake in CBIZ, Inc. by 0.9%, holding 931,870 shares worth approximately $70.7 million after selling 8,847 shares in the first quarter.
• CBIZ reported earnings of $0.95 per share, exceeding analysts' expectations, with revenues of $683.5 million for the quarter, although below forecasts of $701.43 million.
• Insider buying activity occurred as Director Rodney A. Young purchased 2,000 shares at an average cost of $62.43, increasing his stake in the company by 31.7%.

Northern Trust Corp lessened its stake in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 931,870 shares of the business services provider's stock after selling 8,847 shares during the period. Northern Trust Corp owned approximately 1.71% of CBIZ worth $70,692,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CBZ. Mariner LLC increased its position in CBIZ by 6.7% during the 4th quarter. Mariner LLC now owns 11,944 shares of the business services provider's stock valued at $977,000 after buying an additional 748 shares in the last quarter. MetLife Investment Management LLC increased its position in CBIZ by 4.6% during the 4th quarter. MetLife Investment Management LLC now owns 28,936 shares of the business services provider's stock valued at $2,368,000 after buying an additional 1,280 shares in the last quarter. Stifel Financial Corp increased its position in CBIZ by 25.0% during the 4th quarter. Stifel Financial Corp now owns 17,236 shares of the business services provider's stock valued at $1,410,000 after buying an additional 3,447 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in CBIZ during the 4th quarter valued at approximately $3,158,000. Finally, Public Employees Retirement Association of Colorado increased its position in CBIZ by 16.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 311,696 shares of the business services provider's stock valued at $25,506,000 after buying an additional 43,687 shares in the last quarter. Institutional investors own 87.44% of the company's stock.

Insider Transactions at CBIZ

In other CBIZ news, Director Rodney A. Young acquired 2,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were acquired 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. The trade was a 31.70% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 4.95% of the company's stock.

CBIZ Stock Up 0.0%

CBZ stock traded up $0.01 on Friday, reaching $64.53. 349,400 shares of the company traded hands, compared to its average volume of 476,875. The company has a market cap of $3.48 billion, a P/E ratio of 37.09 and a beta of 0.95. CBIZ, Inc. has a one year low of $56.83 and a one year high of $90.13. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a fifty day simple moving average of $69.09 and a 200-day simple moving average of $72.24.

CBIZ (NYSE:CBZ - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The business services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.11. The business had revenue of $683.50 million for the quarter, compared to analysts' expectations of $701.43 million. CBIZ had a return on equity of 14.73% and a net margin of 4.51%.The firm's quarterly revenue was up 62.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 EPS. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. Research analysts anticipate that CBIZ, Inc. will post 2.65 earnings per share for the current 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.