Allspring Global Investments Holdings LLC Purchases 67,978 Shares of CBIZ, Inc. $CBZ

Allspring Global Investments Holdings LLC lifted its holdings in CBIZ, Inc. (NYSE:CBZ) by 9.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 821,483 shares of the business services provider’s stock after purchasing an additional 67,978 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CBIZ were worth $45,288,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Quarry LP bought a new stake in CBIZ during the first quarter valued at approximately $26,000. MAI Capital Management raised its position in CBIZ by 243.9% in the first quarter. MAI Capital Management now owns 423 shares of the business services provider’s stock worth $32,000 after acquiring an additional 300 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of CBIZ during the 2nd quarter worth $35,000. Strategic Wealth Investment Group LLC purchased a new position in shares of CBIZ during the 2nd quarter worth $37,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of CBIZ by 165.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 722 shares of the business services provider’s stock valued at $52,000 after acquiring an additional 450 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

CBIZ Stock Down 1.6%

CBZ opened at $50.47 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.57 and a current ratio of 1.57. CBIZ, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $90.13. The firm’s fifty day moving average is $51.90 and its 200 day moving average is $59.37. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 33.20 and a beta of 0.93.

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

Insider Activity

In other CBIZ news, CFO Brad S. Lakhia bought 2,060 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were bought at an average price of $48.51 per share, with a total value of $99,930.60. Following the purchase, the chief financial officer owned 40,584 shares of the company’s stock, valued at $1,968,729.84. This trade represents a 5.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Benaree Pratt Wiley sold 8,288 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $49.54, for a total value of $410,587.52. Following the completion of the transaction, the director directly owned 35,956 shares in the company, valued at approximately $1,781,260.24. This represents a 18.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 4.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of CBIZ in a report on Friday, September 5th. CJS Securities upgraded CBIZ to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings downgraded CBIZ from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, CBIZ has a consensus rating of “Moderate Buy”.

About CBIZ

CBIZ, Inc (NYSE: CBZ), founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.

Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.