Handelsbanken Fonder AB Sells 185,000 Shares of CBIZ, Inc. $CBZ

Handelsbanken Fonder AB cut its holdings in shares of CBIZ, Inc. (NYSE:CBZ) by 24.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 562,000 shares of the business services provider’s stock after selling 185,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in CBIZ were worth $28,353,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Durable Capital Partners LP bought a new stake in shares of CBIZ in the third quarter worth about $207,872,000. SG Americas Securities LLC bought a new stake in shares of CBIZ in the fourth quarter worth about $35,653,000. Sunriver Management LLC bought a new stake in shares of CBIZ in the third quarter worth about $31,605,000. Citadel Advisors LLC increased its holdings in shares of CBIZ by 253.6% in the third quarter. Citadel Advisors LLC now owns 623,060 shares of the business services provider’s stock worth $32,997,000 after purchasing an additional 446,876 shares during the last quarter. Finally, WCM Investment Management LLC bought a new stake in shares of CBIZ in the third quarter worth about $15,011,000. 87.44% of the stock is owned by institutional investors.

CBIZ Stock Up 0.1%

Shares of NYSE:CBZ opened at $30.90 on Wednesday. CBIZ, Inc. has a 1 year low of $24.29 and a 1 year high of $77.91. The firm has a market capitalization of $1.66 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 0.57 and a beta of 0.97. The business has a 50 day simple moving average of $28.55 and a two-hundred day simple moving average of $39.39. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.63 and a quick ratio of 1.63.

CBIZ (NYSE:CBZ) last announced its quarterly earnings data on Wednesday, April 29th. The business services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.22. CBIZ had a return on equity of 12.62% and a net margin of 5.57%.The company had revenue of $848.58 million for the quarter, compared to analysts’ expectations of $853.46 million. During the same quarter in the prior year, the firm earned $2.33 earnings per share. CBIZ’s revenue was up 1.3% compared to the same quarter last year. CBIZ has set its FY 2026 guidance at 4.000-4.100 EPS. On average, equities analysts predict that CBIZ, Inc. will post 4.07 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CBZ shares. Weiss Ratings raised CBIZ from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 4th. BMO Capital Markets assumed coverage on CBIZ in a research report on Monday, March 30th. They issued an “outperform” rating and a $33.00 price target for the company. Zacks Research upgraded CBIZ from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Stephens set a $37.00 price target on CBIZ in a research report on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $42.00 target price on shares of CBIZ in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $37.33.

Insider Transactions at CBIZ

In other news, CFO Brad S. Lakhia acquired 12,775 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $25.97 per share, with a total value of $331,766.75. Following the completion of the purchase, the chief financial officer directly owned 148,480 shares in the company, valued at $3,856,025.60. This trade represents a 9.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.10% of the stock is currently owned by company insiders.

CBIZ Company Profile

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.