Cannon Global Investment Management LLC Acquires 11,000 Shares in CBIZ, Inc. (NYSE:CBZ)

Cannon Global Investment Management LLC has made a new investment in CBIZ, Inc. (NYSE:CBZ - Free Report) by acquiring 11,000 shares during the third quarter, according to the firm's recent filing with the Securities and Exchange Commission. This purchase amounts to approximately $740,000, which constitutes about 1.2% of Cannon Global's investment portfolio, making CBIZ the 20th largest holding in their collection.

Additionally, several other investment funds have also adjusted their stakes in CBIZ. For instance, AQR Capital Management LLC increased its holdings by 1.2% in the second quarter, now owning 14,960 shares valued at $1,109,000, after buying 176 more shares. Wealth Enhancement Advisory Services LLC similarly raised its position by 1.2% in the same quarter, owning 16,235 shares now valued at $1,203,000, an increase from 185 shares. Inspire Investing LLC saw a larger increase of 4.2%, bringing its total to 4,757 shares worth $352,000 after acquiring 190 additional shares.

Covestor Ltd significantly boosted its holdings by 45.5% in the first quarter, now holding 707 shares worth $56,000 after adding 221 shares. US Bancorp DE also increased its stake by 16.1% in the third quarter, acquiring an extra 249 shares to own 1,796 shares valued at $121,000. Overall, institutional investors own 87.44% of CBIZ's stock.

Wall Street Analysts' Opinions

Research firms are paying close attention to CBIZ. StockNews.com recently downgraded its rating from 'hold' to 'sell' on September 5, while Sidoti upgraded its recommendation from 'neutral' to 'buy,' raising the target price from $80.00 to $86.00 on August 12.

Performance Overview of CBIZ Shares

On Friday, shares of CBIZ traded up by $0.77 to reach $69.70, with 384,915 shares exchanged, surpassing the average trading volume of 323,937. The company boasts a debt-to-equity ratio of 0.43. Its quick and current ratios both stand at 1.48. CBIZ has a market capitalization of $3.50 billion, a price-to-earnings ratio of 29.53, and a beta of 0.90. Over the past 52 weeks, the stock has hit a low of $53.37 and a high of $86.36, with a 50-day moving average of $67.80 and a 200-day moving average of $72.80.

In its latest earnings report released on October 29, CBIZ announced earnings per share (EPS) of $0.84, which exceeded analysts' estimates of $0.76. The company reported a net margin of 7.08% and a 15.47% return on equity, alongside revenue of $438.90 million for the quarter, which was slightly below the forecast of $440.16 million. This represents a year-on-year revenue growth of 6.9% compared to the same period last year when the EPS was $0.66. Analysts predict that CBIZ will post an EPS of 2.65 for the current fiscal year.

About CBIZ

CBIZ, Inc. provides a wide range of financial, insurance, and advisory services across the United States and Canada. It operates through various segments, including Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services segment encompasses accounting and tax services, financial advisory, valuation, risk advisory, and healthcare consulting services.

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