CBIZ, Inc. $CBZ Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in CBIZ, Inc. (NYSE:CBZ) by 14.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,035 shares of the business services provider’s stock after selling 1,928 shares during the quarter. Truist Financial Corp’s holdings in CBIZ were worth $791,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CBZ. Quarry LP acquired a new stake in shares of CBIZ in the 1st quarter worth $26,000. MAI Capital Management increased its stake in shares of CBIZ by 243.9% in the 1st 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 last quarter. Whittier Trust Co. acquired a new stake in shares of CBIZ in the 1st quarter worth $34,000. Olde Wealth Management LLC acquired a new stake in shares of CBIZ in the 1st quarter worth $55,000. Finally, 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. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Rodney A. Young bought 2,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average cost of $62.43 per share, for a total transaction of $124,860.00. Following the acquisition, the director directly owned 8,310 shares of the company’s stock, valued at $518,793.30. The trade was a 31.70% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 4.95% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on CBZ. Weiss Ratings reiterated a “hold (c-)” rating on shares of CBIZ in a report on Wednesday, October 8th. William Blair reiterated an “outperform” rating on shares of CBIZ in a report on Friday, September 5th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

CBIZ Stock Performance

Shares of CBIZ stock opened at $54.39 on Wednesday. The business has a 50-day moving average of $58.77 and a 200 day moving average of $67.67. CBIZ, Inc. has a 12 month low of $50.51 and a 12 month high of $90.13. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 31.26 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.

CBIZ (NYSE:CBZ) last announced its earnings results on Wednesday, July 30th. The business services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.11. CBIZ had a return on equity of 14.73% and a net margin of 4.51%.The company had revenue of $683.50 million during the quarter, compared to analysts’ expectations of $701.43 million. During the same period last year, the business posted $0.39 EPS. CBIZ’s revenue for the quarter was up 62.7% on a year-over-year basis. 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 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.