Wealth Enhancement Advisory Services LLC Purchases 14,979 Shares of CBIZ, Inc. $CBZ

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in CBIZ, Inc. by 39.1%, acquiring 14,979 additional shares, bringing its total to 53,319 shares valued at approximately $3.93 million.
• Institutional investors now own 87.44% of CBIZ stock, with Royal Bank of Canada significantly boosting its stake by 90.7% in the first quarter.
• CBIZ reported an earnings per share (EPS) of $0.95 for the last quarter, exceeding analysts’ expectations of $0.84, while revenue grew 62.7% year-over-year.

Wealth Enhancement Advisory Services LLC lifted its position in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 39.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,319 shares of the business services provider's stock after buying an additional 14,979 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.10% of CBIZ worth $3,933,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CBZ. Royal Bank of Canada raised its stake in CBIZ by 90.7% in the 1st quarter. Royal Bank of Canada now owns 396,278 shares of the business services provider's stock worth $30,062,000 after purchasing an additional 188,472 shares in the last quarter. Alpha Wave Global LP bought a new position in shares of CBIZ during the first quarter worth approximately $6,713,000. XTX Topco Ltd acquired a new stake in shares of CBIZ in the first quarter valued at approximately $1,043,000. Fiera Capital Corp boosted its stake in shares of CBIZ by 14.6% in the first quarter. Fiera Capital Corp now owns 234,522 shares of the business services provider's stock valued at $17,791,000 after buying an additional 29,902 shares during the period. Finally, Blair William & Co. IL grew its position in CBIZ by 1.1% during the first quarter. Blair William & Co. IL now owns 427,605 shares of the business services provider's stock worth $32,438,000 after buying an additional 4,739 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, William Blair reaffirmed an "outperform" rating on shares of CBIZ in a report on Friday, September 5th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy".

Insider Activity at CBIZ

In related news, Director Rodney A. Young purchased 2,000 shares of CBIZ stock in a transaction dated Friday, August 8th. The shares were bought at an average cost 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 approximately $518,793.30. This trade represents a 31.70% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.95% of the company's stock.

CBIZ Stock Down 1.6%

NYSE CBZ opened at $51.16 on Friday. The business has a fifty day moving average price of $63.10 and a two-hundred day moving average price of $69.28. The stock has a market capitalization of $2.76 billion, a PE ratio of 29.40 and a beta of 0.95. CBIZ, Inc. has a fifty-two week low of $50.51 and a fifty-two week 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 posted its quarterly 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 company had revenue of $683.50 million during 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 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. Equities analysts expect that CBIZ, Inc. will post 2.65 earnings per share for the current fiscal year.

CBIZ Company 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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