Russell Investments Group Ltd. Buys 27,643 Shares of CBIZ, Inc. $CBZ

Key Points

• Russell Investments Group Ltd. increased its stake in CBIZ, Inc. by 76.3%, acquiring 27,643 shares to total 63,868 shares valued at approximately $4.85 million.
• CBIZ reported a significant year-over-year revenue increase of 62.7% for the most recent quarter, with earnings per share beating estimates at $0.95.
• Institutional ownership of CBIZ shares stands at 87.44%, highlighting strong investor confidence in the business services provider.

Russell Investments Group Ltd. grew its holdings in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 76.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,868 shares of the business services provider's stock after acquiring an additional 27,643 shares during the quarter. Russell Investments Group Ltd. owned about 0.12% of CBIZ worth $4,845,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Burgundy Asset Management Ltd. boosted its position in shares of CBIZ by 1.5% during the 4th quarter. Burgundy Asset Management Ltd. now owns 2,081,380 shares of the business services provider's stock valued at $170,319,000 after acquiring an additional 31,253 shares during the last quarter. Northern Trust Corp boosted its position in shares of CBIZ by 0.7% during the 4th quarter. Northern Trust Corp now owns 940,717 shares of the business services provider's stock valued at $76,979,000 after acquiring an additional 6,540 shares during the last quarter. GW&K Investment Management LLC boosted its position in shares of CBIZ by 9.7% during the 1st quarter. GW&K Investment Management LLC now owns 893,516 shares of the business services provider's stock valued at $67,782,000 after acquiring an additional 78,811 shares during the last quarter. Artemis Investment Management LLP boosted its position in shares of CBIZ by 60.4% during the 1st quarter. Artemis Investment Management LLP now owns 631,893 shares of the business services provider's stock valued at $47,935,000 after acquiring an additional 237,983 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of CBIZ by 3.4% during the 4th quarter. Bank of America Corp DE now owns 431,750 shares of the business services provider's stock valued at $35,330,000 after acquiring an additional 14,006 shares during the last quarter. Institutional investors own 87.44% of the company's stock.

CBIZ Stock Performance

Shares of NYSE CBZ opened at $64.5950 on Friday. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 37.12 and a beta of 0.92. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79. CBIZ, Inc. has a 1-year low of $56.83 and a 1-year high of $90.13. The stock's 50-day moving average is $69.46 and its 200 day moving average is $73.38.

CBIZ (NYSE:CBZ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The business services provider reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.11. The company 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%.CBIZ's revenue for the quarter was up 62.7% compared to the same quarter last year. During the same period last year, the firm posted $0.39 EPS. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. On average, sell-side analysts anticipate that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, William Blair reiterated an "outperform" rating on shares of CBIZ in a research report on Friday, April 25th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, CBIZ currently has a consensus rating of "Buy".

Insider Buying and Selling

In related news, Director Rodney A. Young purchased 2,000 shares of the firm's stock in a transaction 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 purchase, the director directly owned 8,310 shares of the company's stock, 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 document filed with the SEC, which is available at the SEC website. 4.95% of the stock is owned by company insiders.

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.

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