Wellington Management Group LLP Increases Holdings in CBIZ, Inc. $CBZ

Key Points

• Wellington Management Group increased its shares in CBIZ, Inc. by 2.1% by acquiring an additional 8,628 shares, bringing its total holdings to 410,180 shares valued at approximately $31.12 million.
• In the first quarter, several institutional investors significantly expanded their stakes in CBIZ, with Artemis Investment Management LLP increasing its holdings by 60.4% to own 631,893 shares valued at $47.94 million.
• CBIZ reported a quarterly earnings per share (EPS) of $0.95, exceeding estimates, and noted a year-over-year revenue increase of 62.7% despite the revenue falling short of consensus estimates.

Wellington Management Group LLP increased its position in shares of CBIZ, Inc. (NYSE:CBZ - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 410,180 shares of the business services provider's stock after acquiring an additional 8,628 shares during the period. Wellington Management Group LLP owned about 0.75% of CBIZ worth $31,116,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CBZ. Nuveen LLC acquired a new position in CBIZ during the 1st quarter worth about $23,494,000. Waters Parkerson & CO. LLC acquired a new position in CBIZ during the 4th quarter worth about $23,383,000. SG Capital Management LLC acquired a new position in CBIZ during the 4th quarter worth about $20,543,000. Artemis Investment Management LLP lifted its stake in CBIZ by 60.4% during the 1st quarter. Artemis Investment Management LLP now owns 631,893 shares of the business services provider's stock worth $47,935,000 after acquiring an additional 237,983 shares in the last quarter. Finally, Burgundy Asset Management Ltd. lifted its stake in CBIZ by 6.7% during the 1st quarter. Burgundy Asset Management Ltd. now owns 2,220,266 shares of the business services provider's stock worth $168,429,000 after acquiring an additional 138,886 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

Insider Transactions at CBIZ

In related news, Director Rodney A. Young bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $62.43 per share, for a total transaction of $124,860.00. Following the completion of the acquisition, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.95% of the company's stock.

CBIZ Trading Up 0.0%

CBZ traded up $0.01 during mid-day trading on Friday, hitting $64.53. 349,400 shares of the stock were exchanged, compared to its average volume of 554,583. The company has a market cap of $3.48 billion, a PE ratio of 37.09 and a beta of 0.92. The firm's fifty day moving average is $69.09 and its two-hundred day moving average is $72.35. CBIZ, Inc. has a 1-year low of $56.83 and a 1-year high of $90.13. 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 (NYSE:CBZ - Get Free Report) last released its earnings results on Wednesday, July 30th. The business services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.11. The firm 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%.CBIZ's revenue was up 62.7% compared to the same quarter last year. During the same period last year, the business posted $0.39 earnings per share. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. Equities analysts forecast that CBIZ, Inc. will post 2.65 earnings per share for the current fiscal year.

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.