Alpha Wave Global LP Has $16.64 Million Holdings in CBIZ, Inc. $CBZ

Alpha Wave Global LP boosted its holdings in shares of CBIZ, Inc. (NYSE:CBZ) by 162.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,021 shares of the business services provider’s stock after acquiring an additional 143,526 shares during the period. CBIZ comprises about 1.8% of Alpha Wave Global LP’s portfolio, making the stock its 9th largest position. Alpha Wave Global LP’s holdings in CBIZ were worth $16,638,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of CBIZ by 165.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 722 shares of the business services provider’s stock worth $52,000 after purchasing an additional 450 shares during the period. Norges Bank bought a new position in CBIZ in the second quarter worth approximately $1,842,000. Hsbc Holdings PLC purchased a new stake in CBIZ during the second quarter worth $395,000. Russell Investments Group Ltd. lifted its holdings in CBIZ by 16.9% during the second quarter. Russell Investments Group Ltd. now owns 74,688 shares of the business services provider’s stock worth $5,356,000 after buying an additional 10,820 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its position in CBIZ by 10.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,353 shares of the business services provider’s stock valued at $384,000 after acquiring an additional 505 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

CBZ has been the subject of several recent research reports. Weiss Ratings lowered CBIZ from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 24th. William Blair reiterated an “outperform” rating on shares of CBIZ in a research note on Friday, September 5th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Insider Buying and Selling at CBIZ

In related news, Director Benaree Pratt Wiley sold 8,288 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $49.54, for a total value of $410,587.52. Following the transaction, the director owned 35,956 shares in the company, valued at approximately $1,781,260.24. This represents a 18.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brad S. Lakhia purchased 2,060 shares of CBIZ stock in a transaction on Wednesday, November 26th. The shares were acquired at an average cost of $48.51 per share, with a total value of $99,930.60. Following the completion of the transaction, the chief financial officer directly owned 40,584 shares in the company, valued at $1,968,729.84. The trade was a 5.35% increase in their position. The SEC filing for this purchase provides additional information. 4.95% of the stock is owned by corporate insiders.

CBIZ Stock Up 4.2%

CBIZ stock opened at $53.57 on Friday. CBIZ, Inc. has a 1-year low of $47.88 and a 1-year high of $90.13. The business has a fifty day moving average price of $52.62 and a 200-day moving average price of $62.15. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 35.25 and a beta of 0.94.

CBIZ (NYSE:CBZ) last announced its earnings results on Wednesday, October 29th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.07. CBIZ had a return on equity of 14.00% and a net margin of 3.89%.The company had revenue of $693.82 million for the quarter, compared to analyst estimates of $709.18 million. During the same period in the prior year, the company posted $0.93 EPS. The firm’s quarterly revenue was up 58.1% compared to the same quarter last year. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. Equities research analysts forecast that CBIZ, Inc. will post 2.65 EPS 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.