Neuberger Berman Group LLC Sells 29,917 Shares of CBIZ, Inc. $CBZ

Neuberger Berman Group LLC trimmed its position in CBIZ, Inc. (NYSE:CBZ) by 21.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,528 shares of the business services provider’s stock after selling 29,917 shares during the period. Neuberger Berman Group LLC’s holdings in CBIZ were worth $7,854,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CBZ. Montrusco Bolton Investments Inc. acquired a new stake in shares of CBIZ in the second quarter valued at about $16,736,000. Norges Bank bought a new position in CBIZ in the second quarter valued at approximately $1,842,000. Royal Bank of Canada increased its position in shares of CBIZ by 90.7% during the 1st quarter. Royal Bank of Canada now owns 396,278 shares of the business services provider’s stock worth $30,062,000 after purchasing an additional 188,472 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of CBIZ during the 2nd quarter worth approximately $21,739,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of CBIZ by 9.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 163,157 shares of the business services provider’s stock valued at $11,700,000 after buying an additional 13,599 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

CBIZ Stock Down 0.5%

CBZ stock opened at $53.46 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. The company has a market cap of $2.91 billion, a PE ratio of 35.17 and a beta of 0.94. The business has a 50-day simple moving average of $52.35 and a 200 day simple moving average of $61.10. CBIZ, Inc. has a 52 week low of $47.88 and a 52 week high of $90.13.

CBIZ (NYSE:CBZ) last released its quarterly earnings data 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 business 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%.CBIZ’s revenue was up 58.1% compared to the same quarter last year. During the same period last year, the firm posted $0.93 earnings per share. CBIZ has set its FY 2025 guidance at 3.600-3.650 EPS. Sell-side analysts anticipate that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Insider Activity at CBIZ

In related news, CFO Brad S. Lakhia purchased 2,060 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was acquired at an average price of $48.51 per share, for a total transaction of $99,930.60. Following the purchase, the chief financial officer owned 40,584 shares of the company’s stock, valued at approximately $1,968,729.84. This trade represents a 5.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Benaree Pratt Wiley sold 8,288 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $49.54, for a total value of $410,587.52. Following the sale, the director owned 35,956 shares of the company’s stock, valued at $1,781,260.24. This trade represents a 18.73% decrease in their position. The SEC filing for this sale provides additional information. 4.95% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CBZ has been the subject of several analyst reports. Weiss Ratings cut shares of CBIZ from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 24th. William Blair reiterated an “outperform” rating on shares of CBIZ in a research note on Friday, September 5th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, CBIZ has an average rating of “Hold”.

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.