Nuveen LLC Takes Position in CBIZ, Inc. $CBZ

Key Points

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Nuveen LLC bought a new position in CBIZ, Inc. (NYSE:CBZ - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 309,702 shares of the business services provider's stock, valued at approximately $23,494,000. Nuveen LLC owned approximately 0.57% of CBIZ at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CBZ. Wells Fargo & Company MN lifted its position in shares of CBIZ by 23.0% in the fourth quarter. Wells Fargo & Company MN now owns 42,803 shares of the business services provider's stock worth $3,503,000 after buying an additional 8,014 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of CBIZ by 5.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 74,964 shares of the business services provider's stock worth $6,134,000 after buying an additional 4,145 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of CBIZ in the fourth quarter worth about $240,000. Barclays PLC lifted its position in shares of CBIZ by 8.8% in the fourth quarter. Barclays PLC now owns 85,610 shares of the business services provider's stock worth $7,005,000 after buying an additional 6,899 shares in the last quarter. Finally, Mariner LLC lifted its position in shares of CBIZ by 6.7% in the fourth quarter. Mariner LLC now owns 11,944 shares of the business services provider's stock worth $977,000 after buying an additional 748 shares in the last quarter. 87.44% of the stock is currently 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 note on Friday, April 25th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy".

Insider Activity at CBIZ

In other CBIZ news, Director Rodney A. Young bought 2,000 shares of the business's stock in a transaction dated Friday, August 8th. The shares were purchased at an average price of $62.43 per share, with a total value of $124,860.00. Following the completion of the purchase, the director owned 8,310 shares in the company, valued at $518,793.30. This represents a 31.70% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.95% of the company's stock.

CBIZ Trading Up 2.8%

NYSE CBZ traded up $1.8220 during trading hours on Friday, hitting $66.5220. 508,623 shares of the company were exchanged, compared to its average volume of 758,712. The stock has a 50-day moving average price of $69.41 and a 200 day moving average price of $73.15. The company has a quick ratio of 1.60, a current 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 stock has a market cap of $3.59 billion, a PE ratio of 38.23 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 for the quarter, topping the consensus estimate of $0.84 by $0.11. CBIZ had a return on equity of 14.73% and a net margin of 4.51%.The company had revenue of $683.50 million for the quarter, compared to analysts' expectations of $701.43 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The firm's revenue for the quarter was up 62.7% on a year-over-year basis. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. Analysts forecast that CBIZ, Inc. will post 2.65 earnings per share 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.