Cannon Global Investment Management LLC Acquires 11,000 Shares in CBIZ, Inc.

Cannon Global Investment Management LLC has recently acquired a new stake in CBIZ, Inc. (NYSE:CBZ) during the third quarter. According to their latest filing with the Securities & Exchange Commission, the fund purchased 11,000 shares of the business services provider, which are valued at around $740,000. This investment represents approximately 1.2% of Cannon Global's total investment portfolio, making CBIZ the 20th largest holding in their assets.

Other institutional investors have also adjusted their positions in CBIZ recently. AQR Capital Management LLC increased its stake in the company by 1.2% in the second quarter and now holds a total of 14,960 shares, valued at $1,109,000, after acquiring an additional 176 shares. Similarly, Wealth Enhancement Advisory Services LLC also raised its holdings in CBIZ by 1.2%, bringing its total to 16,235 shares worth $1,203,000 after buying 185 more shares in the last quarter. Another firm, Inspire Investing LLC, upped its position by 4.2%, now owning 4,757 shares valued at $352,000. Additionally, Covestor Ltd significantly increased its stake by 45.5% in the first quarter, while US Bancorp DE enhanced its holdings by 16.1% in the third quarter. Currently, institutional investors own about 87.44% of CBIZ’s stock.

Wall Street Analysts Project Future Growth

CBIZ has attracted attention from several Wall Street analysts. Recently, StockNews.com downgraded the company's shares from a "hold" to a "sell" rating on September 5th. However, Sidoti upgraded CBIZ from a "neutral" to a "buy" rating and raised the target price from $80.00 to $86.00 on August 12th.

CBIZ Stock Performance Overview

On Friday, CBIZ shares rose by $0.77, reaching a price of $69.70, with a total of 384,915 shares traded during the day, exceeding its average volume of 323,937 shares. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.48, and a current ratio of 1.48. As of now, CBIZ has a market capitalization of $3.50 billion and a PE ratio of 29.53. Its 52-week trading range has seen a low of $53.37 and a high of $86.36, with a 50-day moving average at $67.80 and a 200-day moving average at $72.80.

CBIZ reported its quarterly earnings on October 29th, announcing an earnings per share (EPS) of $0.84, which beats the analysts' expectations of $0.76 by $0.08. The company's net margin stands at 7.08% with a return on equity of 15.47%. For the quarter, CBIZ generated revenue of $438.90 million, slightly below the consensus estimate of $440.16 million, yet this reflects a year-over-year revenue increase of 6.9%. Analysts project that CBIZ will attain an EPS of 2.65 for the current fiscal year.

About CBIZ

CBIZ, Inc. is a provider of financial, insurance, and advisory services based in the United States and Canada. The company operates through various segments, including Financial Services, Benefits and Insurance Services, and National Practices. Its Financial Services segment encompasses accounting, tax, financial advisory, valuation, risk assessment, and government healthcare consulting.

Final Thoughts on Investment in CBIZ

Investors considering CBIZ should evaluate recent analyst ratings and market performance. Currently, while CBIZ is rated as "Buy" among analysts, there may be other stocks that are generating more favorable sentiments in the investment community.

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