16,020 Shares in CBIZ, Inc. $CBZ Acquired by Letson Investment Management Inc.

Letson Investment Management Inc. bought a new stake in CBIZ, Inc. (NYSE:CBZ) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 16,020 shares of the business services provider’s stock, valued at approximately $848,000.

Other hedge funds have also made changes to their positions in the company. Quarry LP bought a new stake in shares of CBIZ during the first quarter worth $26,000. MAI Capital Management grew its holdings in CBIZ by 243.9% during 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in CBIZ in the 2nd quarter valued at about $35,000. Strategic Wealth Investment Group LLC bought a new position in shares of CBIZ in the second quarter worth about $37,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of CBIZ by 165.4% in the second quarter. EverSource Wealth Advisors LLC now owns 722 shares of the business services provider’s stock worth $52,000 after acquiring an additional 450 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

CBIZ Stock Performance

CBZ stock opened at $50.69 on Monday. 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, Inc. has a twelve month low of $47.88 and a twelve month high of $90.13. The business’s fifty day moving average is $51.85 and its 200-day moving average is $59.12. The company has a market cap of $2.76 billion, a P/E ratio of 33.35 and a beta of 0.93.

CBIZ (NYSE:CBZ) last released its earnings results on Wednesday, October 29th. The business services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.07. The firm had revenue of $693.82 million for the quarter, compared to analyst estimates of $709.18 million. CBIZ had a return on equity of 14.00% and a net margin of 3.89%.The company’s quarterly revenue was up 58.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.93 earnings per share. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. Equities research analysts forecast that CBIZ, Inc. will post 2.65 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on CBZ. Weiss Ratings cut shares of CBIZ from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 24th. CJS Securities upgraded CBIZ to a “strong-buy” rating in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Insiders Place Their Bets

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

CBIZ Profile

CBIZ, Inc (NYSE: CBZ), founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.

Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.