CBIZ, Inc. $CBZ Stock Position Increased by Alpha Wave Global LP

Alpha Wave Global LP grew its position in shares of CBIZ, Inc. (NYSE:CBZ) by 162.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 232,021 shares of the business services provider’s stock after purchasing an additional 143,526 shares during the period. CBIZ makes up approximately 1.8% of Alpha Wave Global LP’s investment portfolio, making the stock its 9th biggest position. Alpha Wave Global LP owned 0.43% of CBIZ worth $16,638,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Burgundy Asset Management Ltd. boosted its stake in CBIZ by 6.7% during the first quarter. Burgundy Asset Management Ltd. now owns 2,220,266 shares of the business services provider’s stock valued at $168,429,000 after buying an additional 138,886 shares during the last quarter. Geode Capital Management LLC increased its stake in CBIZ by 8.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,224,142 shares of the business services provider’s stock worth $87,794,000 after acquiring an additional 96,505 shares during the last quarter. BloombergSen Inc. raised its holdings in shares of CBIZ by 9.5% during the 2nd quarter. BloombergSen Inc. now owns 1,119,362 shares of the business services provider’s stock worth $80,269,000 after acquiring an additional 96,982 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of CBIZ by 30.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 985,958 shares of the business services provider’s stock worth $70,703,000 after acquiring an additional 232,438 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of CBIZ by 33.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 462,000 shares of the business services provider’s stock valued at $33,130,000 after acquiring an additional 115,000 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

CBIZ Stock Performance

CBZ stock opened at $53.57 on Friday. CBIZ, Inc. has a twelve month low of $47.88 and a twelve month high of $90.13. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 35.25 and a beta of 0.94. The business’s fifty day simple moving average is $52.62 and its two-hundred day simple moving average is $62.15. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.80.

CBIZ (NYSE:CBZ) last posted its quarterly earnings results on Wednesday, October 29th. The business services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.07. The firm 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 14.00%. The business’s revenue for the quarter was up 58.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.93 earnings per share. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. Analysts predict that CBIZ, Inc. will post 2.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CBZ. Weiss Ratings cut shares of CBIZ from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 24th. William Blair reissued an “outperform” rating on shares of CBIZ in a research note on Friday, September 5th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Insider Transactions at CBIZ

In related news, CFO Brad S. Lakhia bought 2,060 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were acquired at an average cost of $48.51 per share, for a total transaction of $99,930.60. Following the purchase, the chief financial officer directly owned 40,584 shares of the company’s stock, valued at approximately $1,968,729.84. The trade was a 5.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Benaree Pratt Wiley sold 8,288 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $49.54, for a total transaction of $410,587.52. Following the transaction, the director directly owned 35,956 shares in the company, valued at approximately $1,781,260.24. This trade represents a 18.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.95% of the stock is owned by corporate insiders.

About CBIZ

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.