Price T Rowe Associates Inc. MD Sells 63,506 Shares of CBIZ, Inc. $CBZ

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in CBIZ, Inc. by 9.8%, now holding approximately 1.08% of the company, valued at $44.44 million.
• CBIZ reported earnings of $0.95 EPS for the quarter, surpassing estimates, while quarterly revenue showed a significant year-over-year increase of 62.7%.
• Insider transactions noted Director Rodney A. Young acquiring 2,000 shares at around $62.43 per share, increasing their position by 31.7%.

Price T Rowe Associates Inc. MD lowered its position in CBIZ, Inc. (NYSE:CBZ - Free Report) by 9.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 585,808 shares of the business services provider's stock after selling 63,506 shares during the period. Price T Rowe Associates Inc. MD owned 1.08% of CBIZ worth $44,441,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CBZ. Wellington Management Group LLP purchased a new stake in shares of CBIZ in the 4th quarter worth approximately $32,859,000. Nuveen LLC purchased a new stake in shares of CBIZ in the 1st quarter worth approximately $23,494,000. Waters Parkerson & CO. LLC purchased a new stake in shares of CBIZ in the 4th quarter worth approximately $23,383,000. SG Capital Management LLC purchased a new stake in shares of CBIZ in the 4th quarter worth approximately $20,543,000. Finally, Artemis Investment Management LLP grew its stake in shares of CBIZ by 60.4% in the 1st quarter. Artemis Investment Management LLP now owns 631,893 shares of the business services provider's stock worth $47,935,000 after buying an additional 237,983 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.

CBIZ Stock Up 0.0%

Shares of CBIZ stock traded up $0.01 during midday trading on Monday, hitting $64.53. The company had a trading volume of 349,400 shares, compared to its average volume of 476,875. The stock has a market capitalization of $3.48 billion, a P/E ratio of 37.09 and a beta of 0.95. The company has a 50 day moving average of $69.09 and a 200 day moving average of $72.24. CBIZ, Inc. has a 52-week low of $56.83 and a 52-week high of $90.13. 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 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. The business had revenue of $683.50 million during the quarter, compared to analyst estimates of $701.43 million. CBIZ had a return on equity of 14.73% and a net margin of 4.51%.The company's quarterly revenue was up 62.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 EPS. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. On average, equities analysts predict that CBIZ, Inc. will post 2.65 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Rodney A. Young purchased 2,000 shares of the company's stock in a transaction dated Friday, August 8th. The shares were purchased at an average cost of $62.43 per share, for a total transaction of $124,860.00. Following the purchase, the director directly owned 8,310 shares in the company, valued at approximately $518,793.30. This represents a 31.70% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.95% of the stock is currently owned by company insiders.

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.