CBIZ, Inc. $CBZ Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in CBIZ, Inc. (NYSE:CBZ) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,296 shares of the business services provider’s stock after selling 1,898 shares during the quarter. Envestnet Asset Management Inc.’s holdings in CBIZ were worth $5,471,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CBZ. Quarry LP acquired a new stake in shares of CBIZ in the first quarter valued at approximately $26,000. MAI Capital Management grew its holdings in CBIZ by 243.9% in the 1st 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 in the last quarter. Whittier Trust Co. purchased a new stake in CBIZ in the 1st quarter valued at $34,000. Assetmark Inc. increased its stake in shares of CBIZ by 19.9% in the 1st quarter. Assetmark Inc. now owns 905 shares of the business services provider’s stock worth $69,000 after acquiring an additional 150 shares during the last quarter. Finally, Vestcor Inc raised its holdings in shares of CBIZ by 5.3% during the 1st quarter. Vestcor Inc now owns 2,922 shares of the business services provider’s stock worth $222,000 after acquiring an additional 148 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CBZ shares. Weiss Ratings lowered shares of CBIZ from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. William Blair reissued an “outperform” rating on shares of CBIZ in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, CBIZ presently has an average rating of “Hold”.

CBIZ Stock Performance

Shares of CBIZ stock opened at $52.01 on Thursday. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 34.22 and a beta of 0.90. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.60 and a quick ratio of 1.60. The business has a 50-day moving average of $54.32 and a 200 day moving average of $64.44. CBIZ, Inc. has a 12 month low of $50.51 and a 12 month high of $90.13.

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 the consensus estimate of $0.94 by $0.07. The business had revenue of $693.82 million for the quarter, compared to analysts’ expectations of $709.18 million. CBIZ had a net margin of 3.89% and a return on equity of 14.02%. The business’s quarterly revenue was up 58.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 earnings per share. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. As a group, sell-side analysts forecast that CBIZ, Inc. will post 2.65 earnings per share for the current 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.