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

Neuberger Berman Group LLC reduced its stake in shares of CBIZ, Inc. (NYSE:CBZ) by 21.5% in the 2nd quarter, according to its most recent Form 13F filing 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 quarter. Neuberger Berman Group LLC owned 0.20% of CBIZ worth $7,854,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co grew its holdings in shares of CBIZ by 13.3% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 21,830 shares of the business services provider’s stock worth $1,568,000 after purchasing an additional 2,561 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in CBIZ by 297.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the business services provider’s stock valued at $396,000 after buying an additional 4,128 shares in the last quarter. Corient Private Wealth LLC grew its stake in CBIZ by 4.4% during the second quarter. Corient Private Wealth LLC now owns 9,747 shares of the business services provider’s stock worth $694,000 after buying an additional 408 shares during the last quarter. Helium Advisors LLC acquired a new stake in shares of CBIZ during the second quarter worth approximately $394,000. Finally, Holocene Advisors LP acquired a new stake in shares of CBIZ during the second quarter worth approximately $400,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling at CBIZ

In related news, Director Benaree Pratt Wiley sold 8,288 shares of CBIZ stock in a transaction 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 completion of the sale, the director directly owned 35,956 shares of the company’s stock, valued at $1,781,260.24. The trade was a 18.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brad S. Lakhia bought 2,060 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was bought 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. This trade represents a 5.35% increase in their position. The SEC filing for this purchase provides additional information. 4.95% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

CBIZ Stock Performance

CBIZ stock opened at $53.46 on Monday. The company has a market cap of $2.91 billion, a PE ratio of 35.17 and a beta of 0.94. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.80. CBIZ, Inc. has a 1 year low of $47.88 and a 1 year high of $90.13. The company’s 50-day moving average is $52.35 and its two-hundred day moving average is $61.10.

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

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.