CBIZ, Inc. $CBZ is Pacific Capital Partners Ltd's 4th Largest Position

Key Points

• Pacific Capital Partners Ltd sold 30,000 shares of CBIZ, Inc. (CBZ), reducing its stake by 24% to 95,000 shares, which now represent 6.4% of its total holdings.
• CBIZ reported earnings of $0.95 per share, exceeding analyst expectations, but its revenue of $683.50 million fell short of forecasts of $701.43 million.
• Insider transactions included Director Rodney A. Young purchasing 2,000 shares at $62.43 each, increasing his stake by 31.7% to a total of 8,310 shares.

Pacific Capital Partners Ltd lowered its position in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 24.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 95,000 shares of the business services provider's stock after selling 30,000 shares during the quarter. CBIZ makes up approximately 6.4% of Pacific Capital Partners Ltd's holdings, making the stock its 4th biggest holding. Pacific Capital Partners Ltd owned approximately 0.17% of CBIZ worth $6,812,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CBZ. Quarry LP acquired a new position in shares of CBIZ in the 1st quarter valued at $26,000. MAI Capital Management boosted its holdings in shares of CBIZ by 243.9% in the 1st quarter. MAI Capital Management now owns 423 shares of the business services provider's stock valued at $32,000 after purchasing an additional 300 shares during the last quarter. Whittier Trust Co. acquired a new position in shares of CBIZ in the 1st quarter valued at $34,000. McIlrath & Eck LLC boosted its holdings in shares of CBIZ by 193.2% in the 4th quarter. McIlrath & Eck LLC now owns 557 shares of the business services provider's stock valued at $46,000 after purchasing an additional 367 shares during the last quarter. Finally, Olde Wealth Management LLC acquired a new position in shares of CBIZ in the 1st quarter valued at $55,000. Institutional investors and hedge funds own 87.44% of the company's stock.

Analysts Set New Price Targets

Separately, William Blair reiterated an "outperform" rating on shares of CBIZ in a report on Friday, September 5th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, CBIZ has a consensus rating of "Buy".

Insider Buying and Selling

In other news, Director Rodney A. Young bought 2,000 shares of the firm's stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $62.43 per share, for a total transaction 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 ownership of the stock. 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 Up 2.0%

CBIZ stock traded up $1.11 during midday trading on Tuesday, hitting $55.39. 772,666 shares of the stock were exchanged, compared to its average volume of 517,701. The company has a 50 day moving average price of $65.86 and a two-hundred day moving average price of $70.21. The firm has a market cap of $2.99 billion, a P/E ratio of 31.83 and a beta of 0.95. CBIZ, Inc. has a 1 year low of $53.92 and a 1 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.

CBIZ (NYSE:CBZ - Get Free Report) last released its earnings results 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. The company had revenue of $683.50 million during the quarter, compared to the consensus estimate of $701.43 million. CBIZ had a net margin of 4.51% and a return on equity of 14.73%. The company's revenue was up 62.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 EPS. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. On average, sell-side analysts predict 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.