Burgundy Asset Management Ltd. Buys 100,932 Shares of CBIZ, Inc. $CBZ

Burgundy Asset Management Ltd. grew its stake in shares of CBIZ, Inc. (NYSE:CBZ) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,321,198 shares of the business services provider’s stock after acquiring an additional 100,932 shares during the quarter. CBIZ comprises approximately 1.6% of Burgundy Asset Management Ltd.’s portfolio, making the stock its 21st biggest position. Burgundy Asset Management Ltd. owned approximately 4.30% of CBIZ worth $166,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vista Finance LLC increased its stake in CBIZ by 4.0% during the 2nd quarter. Vista Finance LLC now owns 3,856 shares of the business services provider’s stock valued at $277,000 after purchasing an additional 150 shares in the last quarter. MAI Capital Management grew its holdings in shares of CBIZ by 243.9% during the first quarter. MAI Capital Management now owns 423 shares of the business services provider’s stock valued at $32,000 after buying an additional 300 shares during the last quarter. Huntington National Bank increased its position in shares of CBIZ by 15.7% during the second quarter. Huntington National Bank now owns 2,228 shares of the business services provider’s stock valued at $160,000 after acquiring an additional 302 shares in the last quarter. Quarry LP purchased a new position in CBIZ in the 1st quarter worth approximately $26,000. Finally, ProShare Advisors LLC lifted its position in CBIZ by 3.6% in the 2nd quarter. ProShare Advisors LLC now owns 10,752 shares of the business services provider’s stock valued at $771,000 after acquiring an additional 377 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

CBIZ Stock Down 2.2%

CBIZ stock opened at $52.37 on Friday. CBIZ, Inc. has a one year low of $47.88 and a one year high of $90.13. The stock has a fifty day moving average of $52.61 and a 200 day moving average of $61.92. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a market cap of $2.85 billion, a PE ratio of 34.46 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, topping 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 business had revenue of $693.82 million for the quarter, compared to analysts’ expectations of $709.18 million. During the same period last year, the firm posted $0.93 earnings per share. The business’s revenue for the quarter was up 58.1% on a year-over-year basis. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. As a group, sell-side analysts predict that CBIZ, Inc. will post 2.65 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CBZ. Weiss Ratings cut CBIZ from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 24th. William Blair restated an “outperform” rating on shares of CBIZ in a research note on Friday, September 5th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold”.

Insider Buying and Selling

In other CBIZ 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 directly owned 35,956 shares in the company, valued at approximately $1,781,260.24. This trade represents a 18.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brad S. Lakhia purchased 2,060 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were acquired at an average price of $48.51 per share, for a total transaction of $99,930.60. Following the purchase, the chief financial officer directly owned 40,584 shares in the company, valued at approximately $1,968,729.84. The trade was a 5.35% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 4.95% of the stock is currently owned by corporate insiders.

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.