KLP Kapitalforvaltning AS Purchases 2,000 Shares of CBIZ, Inc. $CBZ

KLP Kapitalforvaltning AS raised its position in shares of CBIZ, Inc. (NYSE:CBZ) by 23.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,700 shares of the business services provider’s stock after acquiring an additional 2,000 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in CBIZ were worth $767,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vestcor Inc lifted its holdings 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 during the last quarter. Assetmark Inc. lifted 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 last quarter. Xponance Inc. lifted its holdings in shares of CBIZ by 5.7% during the first quarter. Xponance Inc. now owns 3,620 shares of the business services provider’s stock valued at $275,000 after purchasing an additional 195 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of CBIZ by 4.4% during the first quarter. Avantax Advisory Services Inc. now owns 4,956 shares of the business services provider’s stock valued at $376,000 after purchasing an additional 209 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of CBIZ by 0.8% during the first quarter. Principal Financial Group Inc. now owns 31,766 shares of the business services provider’s stock valued at $2,410,000 after purchasing an additional 243 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

CBIZ Price Performance

Shares of NYSE CBZ opened at $52.16 on Friday. CBIZ, Inc. has a twelve month low of $50.51 and a twelve month high of $90.13. The firm has a market cap of $2.82 billion, a P/E ratio of 29.98 and a beta of 0.90. The company has a 50 day moving average of $58.41 and a 200 day moving average of $67.42. 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 announced its quarterly earnings data on Wednesday, July 30th. The business services provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.11. CBIZ had a net margin of 4.51% and a return on equity of 14.73%. The company had revenue of $683.50 million during the quarter, compared to analyst estimates of $701.43 million. During the same period in the previous year, the business earned $0.39 EPS. The firm’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, research analysts expect that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Rodney A. Young bought 2,000 shares of the business’s stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $62.43 per share, with a total value of $124,860.00. Following the transaction, the director owned 8,310 shares in the company, valued at approximately $518,793.30. This trade represents a 31.70% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.95% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.