August 8, 2023 – In an astounding display of financial acumen, Commerce Bank has significantly increased its holdings in CBIZ, Inc. (NYSE:CBZ) by 74.2% during the first quarter of this year, as per the recent disclosure filed with the Securities and Exchange Commission (SEC). The bank now owns a staggering 17,459 shares of CBIZ’s stock, having acquired an additional 7,435 shares over that period. This substantial increase in ownership positions Commerce Bank as a major player in the realm of business services providers.
With an estimated worth of $864,000 reported from its most recent SEC filing, Commerce Bank has showcased its deep commitment to investing in CBIZ. This move not only solidifies their confidence in CBIZ’s potential for immense growth but also reflects a strategic decision aimed at diversifying their investment portfolio.
CBIZ is a leading player in providing business services across various industries. Their comprehensive range of services includes accounting and tax advisory solutions, risk management consulting services, employee benefits counseling, and more. With such a diverse service offering, CBIZ is creating significant value for businesses seeking professional assistance to navigate complex financial landscapes.
In other news related to CBIZ, Director Joseph S. Dimartino recently sold 10,000 shares of the company’s stock on May 15th through a transaction valued at approximately $498,200. The sale was executed at an average price of $49.82 per share. As a result of this transaction, Dimartino now possesses 30,872 shares valued at $1,538,043.04.
Additionally worthy of note is insider Ware H. Grove’s completion of a major stock sale on August 2nd where he disposed of 20,000 shares at an average price point of $54.55 per share amounting to approximately $1,091,000. Following this transaction, Grove retains ownership of 274,524 shares, which are valued at an impressive $14,975,284.20.
It is no secret that the stock market thrives on insider transactions. These recent developments indicate that both Dimartino and Grove have opted to seize opportunities made available through their knowledge of CBIZ’s prospects. Their meticulous actions suggest a belief in the company’s growth and profitability potential.
The series of transactions were unveiled through filings with the SEC and can be accessed via the SEC website for investors seeking further information. In particular, these transactions emphasize the commitment by insiders to leverage their positions wisely and maximize gains where possible.
In summary, this surge in investment from Commerce Bank demonstrates their astute understanding of CBIZ’s potential for exponential growth. With a diversified range of services catering to businesses across various sectors, CBIZ has cemented its position as a leader in the realm of business services providers. Furthermore, insider transactions by prominent figures within CBIZ not only underscore their optimism but send promising signals to prospective investors.
As always, it is essential for interested parties to thoroughly scrutinize any investment opportunities and perform due diligence before making any financial decisions. Conclusively, this recent chain of events surrounding CBIZ paints a vivid picture of a flourishing enterprise with tremendous prospects for long-term success.
CBIZ, Inc. (NYSE: CBZ) Attracts Attention and Interest from Hedge Funds and Institutional Investors
CBIZ, Inc. (NYSE:CBZ), a prominent business services provider, has recently caught the attention of hedge funds and institutional investors. Several companies, including Federated Hermes Inc., Advisor Group Holdings Inc., Money Concepts Capital Corp, Macquarie Group Ltd., and Ridgewood Investments LLC have modified their holdings in CBIZ, illustrating increased interest in the company.
Federated Hermes Inc. expanded its position in CBIZ by an impressive 56.4% during the third quarter. The company now owns 1,117 shares of CBIZ’s stock valued at $48,000 after acquiring an additional 403 shares. Similarly, Advisor Group Holdings Inc. witnessed a 127.1% increase in their position in the fourth quarter, bringing their ownership to 1,206 shares worth $57,000.
Money Concepts Capital Corp also decided to invest in CBIZ during the fourth quarter by acquiring a new stake worth approximately $65,000. Additionally, Macquarie Group Ltd., a well-known global financial services provider, lifted its position in CBIZ by 113.6% during the second quarter. They now own 1,566 shares valued at $62,000 after purchasing an additional 833 shares.
Moreover, Ridgewood Investments LLC demonstrated interest in CBIZ and acquired a new position valued at about $92,000 during the first quarter. These investments reflect the confidence these institutional investors have placed in CBIZ’s potential for growth and success.
It is important to note that institutional investors currently hold an overwhelming majority – approximately 88.27% – of CBIZ’s stock. This further emphasizes the trust placed in the company by seasoned industry players.
Separately from these developments with institutional investors and hedge funds modifying their holdings of CBIZ, StockNews.com recently assumed coverage on the company with a “hold” rating on Thursday May 18th . This event has further sparked interest and discussion surrounding CBIZ, leaving investors pondering the potential trajectory of the stock.
Shares of CBIZ opened at $55.18 on Tuesday, August 8th. The company boasts a market capitalization of $2.75 billion and has a PE ratio of 24.31, indicating strong investor confidence in its future prospects. Furthermore, with a beta of 0.76, the stock displays a degree of stability relative to the overall market.
CBIZ’s financials for the second quarter were released on Thursday, July 27th, revealing some insights into the company’s performance. The business services provider reported earnings per share (EPS) of $0.55 for the quarter, falling short of analysts’ consensus estimates by ($0.13). Despite this underperformance in earnings, CBIZ’s net margin was still an impressive 7.67%, showcasing its profitability.
A key metric for CBIZ is its return on equity (ROE), which stood at 15.52%. This figure highlights how efficiently CBIZ utilizes shareholders’ investments to generate profits.
In terms of revenue, CBIZ recorded $398.50 million for the quarter – surpassing analysts’ consensus estimate of $392.37 million – illustrating a remarkable growth rate of 10.1% year-over-year.
Industry analysts are now forecasting that CBIZ will post EPS of 2.4 for the current fiscal year, providing investors with valuable insight into what they can expect moving forward.
With institutional investors modifying their holdings and StockNews.com providing coverage with a “hold” rating, CBIZ finds itself in a positiAbstracted articleveal itself as an enticing prospect to potential investors looking to diversify their portfolios with steady growth opportunities.
Overall, it is crucial for investors to closely monitor developments within CBIZ as it demonstrates strength amidst changing market dynamics and continues to attract attention from both institutional investors and financial experts alike