Waters Parkerson & CO. LLC Grows Position in CBIZ, Inc. $CBZ

Waters Parkerson & CO. LLC grew its stake in shares of CBIZ, Inc. (NYSE:CBZ) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 414,478 shares of the business services provider’s stock after purchasing an additional 15,776 shares during the period. Waters Parkerson & CO. LLC owned approximately 0.77% of CBIZ worth $21,951,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in CBIZ during the second quarter worth about $35,000. Strategic Wealth Investment Group LLC acquired a new stake in shares of CBIZ in the 2nd quarter worth approximately $37,000. EverSource Wealth Advisors LLC increased its stake in CBIZ by 165.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 722 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 450 shares in the last quarter. Raymond James Financial Inc. purchased a new position in CBIZ in the 2nd quarter valued at approximately $132,000. Finally, Huntington National Bank raised its holdings in CBIZ by 15.7% during the second quarter. Huntington National Bank now owns 2,228 shares of the business services provider’s stock worth $160,000 after purchasing an additional 302 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

CBIZ Stock Down 1.6%

Shares of NYSE:CBZ opened at $50.71 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $2.76 billion, a P/E ratio of 33.36 and a beta of 0.93. CBIZ, Inc. has a 52-week low of $47.88 and a 52-week high of $90.13. The stock’s fifty day simple moving average is $51.72 and its 200-day simple moving average is $58.07.

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

Insider Activity at CBIZ

In other CBIZ news, Director Benaree Pratt Wiley sold 8,288 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $49.54, for a total transaction of $410,587.52. Following the transaction, the director owned 35,956 shares of the company’s stock, valued at $1,781,260.24. This represents a 18.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Brad S. Lakhia acquired 2,060 shares of the firm’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 acquisition, the chief financial officer directly owned 40,584 shares of the company’s stock, valued at approximately $1,968,729.84. The trade was a 5.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 4.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CBZ. Weiss Ratings lowered CBIZ from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CBIZ in a research note on Monday. They issued a “hold” rating and a $60.00 price objective on the stock. Finally, CJS Securities upgraded shares of CBIZ to a “strong-buy” rating in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, CBIZ currently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

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.