Nuveen LLC Makes New $23.49 Million Investment 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 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 309,702 shares of the business services provider's stock, valued at approximately $23,494,000. Nuveen LLC owned about 0.57% of CBIZ at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Wells Fargo & Company MN lifted its position in shares of CBIZ by 23.0% in the 4th quarter. Wells Fargo & Company MN now owns 42,803 shares of the business services provider's stock worth $3,503,000 after acquiring an additional 8,014 shares during the period. Envestnet Asset Management Inc. raised its position in CBIZ by 5.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 74,964 shares of the business services provider's stock valued at $6,134,000 after purchasing an additional 4,145 shares during the last quarter. Bank of Montreal Can bought a new position in CBIZ in the 4th quarter valued at $240,000. Barclays PLC raised its position in CBIZ by 8.8% in the 4th quarter. Barclays PLC now owns 85,610 shares of the business services provider's stock valued at $7,005,000 after purchasing an additional 6,899 shares during the last quarter. Finally, Mariner LLC raised its position in CBIZ by 6.7% in the 4th quarter. Mariner LLC now owns 11,944 shares of the business services provider's stock valued at $977,000 after purchasing an additional 748 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

CBIZ Stock Performance

Shares of CBZ traded up $1.7810 during mid-day trading on Friday, hitting $66.4810. The company's stock had a trading volume of 323,879 shares, compared to its average volume of 459,595. The firm has a market capitalization of $3.59 billion, a PE ratio of 38.23 and a beta of 0.92. CBIZ, Inc. has a one year low of $56.83 and a one year high of $90.13. The stock's 50-day moving average is $69.46 and its two-hundred day moving average is $73.38. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 1.60.

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, beating analysts' consensus estimates of $0.84 by $0.11. The company had revenue of $683.50 million during 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 business's revenue was up 62.7% on a year-over-year basis. During the same period last year, the business earned $0.39 earnings per share. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. As a group, sell-side analysts anticipate that CBIZ, Inc. will post 2.65 EPS for the current year.

Analysts Set New Price Targets

Separately, William Blair reissued 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.com, the stock has an average rating of "Buy".

Insider Activity

In other news, Director Rodney A. Young bought 2,000 shares of the business's stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $62.43 per share, for a total transaction of $124,860.00. Following the purchase, the director owned 8,310 shares of the company's stock, valued at approximately $518,793.30. The trade was a 31.70% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.95% of the company's stock.

About CBIZ

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.