Strs Ohio Invests $6.92 Million in CBIZ, Inc. $CBZ

Key Points

• Strs Ohio has made a significant investment in CBIZ, Inc., purchasing approximately $6.92 million worth of shares during the first quarter, which accounts for 0.17% of the company's stock.
• CBIZ reported strong financial results, with earnings per share of $0.95 for the last quarter, exceeding analyst expectations of $0.84, and marking a year-over-year revenue increase of 62.7%.
• Analysts have a generally positive outlook on CBIZ, with one firm restating an "outperform" rating and the stock receiving an average rating of "Buy."

Strs Ohio acquired a new position in CBIZ, Inc. (NYSE:CBZ - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 91,200 shares of the business services provider's stock, valued at approximately $6,918,000. Strs Ohio owned approximately 0.17% of CBIZ at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CBZ. Ameriprise Financial Inc. lifted its position in shares of CBIZ by 24.9% during the 4th quarter. Ameriprise Financial Inc. now owns 54,518 shares of the business services provider's stock valued at $4,461,000 after buying an additional 10,861 shares in the last quarter. Royal Bank of Canada boosted its holdings in CBIZ by 90.7% during the 1st quarter. Royal Bank of Canada now owns 396,278 shares of the business services provider's stock valued at $30,062,000 after acquiring an additional 188,472 shares during the period. Alpha Wave Global LP purchased a new stake in shares of CBIZ in the 1st quarter worth $6,713,000. XTX Topco Ltd bought a new position in shares of CBIZ in the 1st quarter worth $1,043,000. Finally, Fiera Capital Corp raised its position in shares of CBIZ by 14.6% in the 1st quarter. Fiera Capital Corp now owns 234,522 shares of the business services provider's stock worth $17,791,000 after acquiring an additional 29,902 shares in the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CBIZ

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

Wall Street Analyst Weigh In

Separately, William Blair restated an "outperform" rating on shares of CBIZ in a research note on Friday, September 5th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, CBIZ has a consensus rating of "Buy".

CBIZ Stock Up 2.0%

NYSE:CBZ traded up $1.11 during midday trading on Tuesday, reaching $55.39. The company had a trading volume of 772,666 shares, compared to its average volume of 517,701. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 31.83 and a beta of 0.95. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79. The stock's fifty day simple moving average is $65.86 and its 200-day simple moving average is $70.21. CBIZ, Inc. has a 12-month low of $53.92 and a 12-month high of $90.13.

CBIZ (NYSE:CBZ - Get Free Report) last posted its earnings results on Wednesday, July 30th. The business services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.11. The business had revenue of $683.50 million during the quarter, compared to the consensus estimate of $701.43 million. CBIZ had a return on equity of 14.73% and a net margin of 4.51%.The business's quarterly revenue was up 62.7% on a year-over-year basis. During the same period in the previous year, the business earned $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 earnings per share for the current fiscal year.

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.