CBIZ, Inc. $CBZ Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in CBIZ, Inc. by 1.4%, now holding approximately 4.65 million shares valued at $352.89 million.
• CBIZ reported $0.95 earnings per share for the last quarter, surpassing analysts' expectations of $0.84, and showing a significant 62.7% year-over-year revenue increase.
• Insider transaction: Director Rodney A. Young purchased 2,000 shares at an average price of $62.43, increasing their ownership by 31.7% to 8,310 shares.

Vanguard Group Inc. cut its position in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,651,812 shares of the business services provider's stock after selling 64,644 shares during the quarter. Vanguard Group Inc. owned approximately 8.55% of CBIZ worth $352,886,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Burgundy Asset Management Ltd. grew its holdings in shares of CBIZ by 1.5% during the fourth quarter. Burgundy Asset Management Ltd. now owns 2,081,380 shares of the business services provider's stock worth $170,319,000 after buying an additional 31,253 shares in the last quarter. Capital World Investors boosted its holdings in shares of CBIZ by 37.6% during the fourth quarter. Capital World Investors now owns 1,134,585 shares of the business services provider's stock worth $92,843,000 after purchasing an additional 309,785 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of CBIZ by 0.7% during the fourth quarter. Northern Trust Corp now owns 940,717 shares of the business services provider's stock worth $76,979,000 after purchasing an additional 6,540 shares during the last quarter. GW&K Investment Management LLC boosted its holdings in shares of CBIZ by 9.7% during the first quarter. GW&K Investment Management LLC now owns 893,516 shares of the business services provider's stock worth $67,782,000 after purchasing an additional 78,811 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its holdings in shares of CBIZ by 60.4% during the first quarter. Artemis Investment Management LLP now owns 631,893 shares of the business services provider's stock worth $47,935,000 after purchasing an additional 237,983 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, William Blair restated an "outperform" rating on shares of CBIZ in a report on Friday, April 25th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy".

CBIZ Stock Up 2.2%

NYSE:CBZ traded up $1.3490 on Tuesday, reaching $63.7990. The stock had a trading volume of 380,693 shares, compared to its average volume of 461,133. 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 company has a 50-day moving average of $69.79 and a 200 day moving average of $73.66. The stock has a market cap of $3.44 billion, a P/E ratio of 36.67 and a beta of 0.92. CBIZ, Inc. has a 12-month low of $56.83 and a 12-month high of $90.13.

CBIZ (NYSE:CBZ - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $701.43 million. CBIZ had a net margin of 4.51% and a return on equity of 14.73%. The firm's revenue for the quarter was up 62.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 EPS. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. On average, research analysts predict that CBIZ, Inc. will post 2.65 earnings per share for the current year.

Insider Activity

In related news, Director Rodney A. Young bought 2,000 shares of the business's stock in a transaction dated Friday, August 8th. The shares were acquired 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 in the company, valued at $518,793.30. This trade represents a 31.70% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 4.95% of the company's stock.

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.