CBIZ, Inc. $CBZ Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in CBIZ, Inc. (NYSE:CBZ) by 9.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 163,157 shares of the business services provider’s stock after purchasing an additional 13,599 shares during the quarter. Bank of New York Mellon Corp’s holdings in CBIZ were worth $11,700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Quarry LP bought a new position in CBIZ in the 1st quarter worth approximately $26,000. MAI Capital Management grew its stake in shares of 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 purchasing an additional 300 shares in the last quarter. Assetmark Inc. increased its holdings in shares of CBIZ by 19.9% during the first quarter. Assetmark Inc. now owns 905 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 150 shares during the period. CHICAGO TRUST Co NA acquired a new position in shares of CBIZ during the second quarter valued at $219,000. Finally, Vestcor Inc raised its stake in shares of CBIZ by 5.3% during the first quarter. Vestcor Inc now owns 2,922 shares of the business services provider’s stock valued at $222,000 after purchasing an additional 148 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of CBIZ from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. William Blair reaffirmed 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 issued a Sell rating to the company. According to MarketBeat.com, CBIZ currently has a consensus rating of “Hold”.

CBIZ Trading Up 0.7%

Shares of CBZ stock opened at $50.15 on Wednesday. The stock has a 50-day simple moving average of $53.68 and a 200 day simple moving average of $63.91. The stock has a market capitalization of $2.73 billion, a P/E ratio of 32.99 and a beta of 0.90. CBIZ, Inc. has a fifty-two week low of $49.28 and a fifty-two week high of $90.13. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.79.

CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Wednesday, October 29th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.94 by $0.07. CBIZ had a net margin of 3.89% and a return on equity of 14.02%. The firm had revenue of $693.82 million for the quarter, compared to analysts’ expectations of $709.18 million. During the same period in the previous year, the business earned $0.93 earnings per share. CBIZ’s revenue for the quarter was up 58.1% compared to the same quarter last year. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. On average, sell-side analysts expect that CBIZ, Inc. will post 2.65 earnings per share for the current fiscal year.

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.