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

Cannon Global Investment Management LLC has made a notable investment by acquiring a new stake in CBIZ, Inc. (NYSE:CBZ) during the third quarter. The recent disclosure made to the Securities and Exchange Commission indicates that the fund purchased 11,000 shares of the business services provider, with a total value of approximately $740,000. This investment represents about 1.2% of Cannon Global Investment Management LLC's total investment portfolio, positioning CBIZ as the fund's 20th largest holding.

In addition to Cannon Global Investment Management, several other hedge funds have also changed their stakes in CBIZ. For instance, AQR Capital Management LLC increased its position by 1.2% in the second quarter, now holding 14,960 shares valued at $1,109,000 after acquiring an additional 176 shares. Similarly, Wealth Enhancement Advisory Services LLC grew its holdings of CBIZ by 1.2%, bringing its total to 16,235 shares worth $1,203,000 after adding 185 shares. Inspire Investing LLC also boosted its position by 4.2%, reaching 4,757 shares valued at $352,000 following a purchase of 190 shares. Furthermore, Covestor Ltd significantly raised its stake by 45.5%, now owning 707 shares valued at $56,000 after buying an extra 221 shares. Lastly, US Bancorp DE increased its holdings by 16.1% during the most recent quarter, owning 1,796 shares worth $121,000 after an additional purchase of 249 shares. Currently, institutional investors hold about 87.44% of CBIZ's stock.

Analysts' Perspective on CBIZ

CBIZ has recently been the focus of various research reports. StockNews.com downgraded its rating on CBIZ from "hold" to "sell" on September 5. In contrast, Sidoti upgraded CBIZ from "neutral" to "buy" and raised the target price from $80.00 to $86.00 in a report dated August 12.

CBIZ Stock Performance

The stock performance of CBIZ saw a rise of $0.77 during mid-day trading on Friday, bringing the price to $69.70. Over 384,915 shares of CBIZ were traded, surpassing the average volume of 323,937 shares. The company's debt-to-equity ratio stands at 0.43, with a quick ratio of 1.48, indicating solid financial health. CBIZ has a market capitalization of $3.50 billion, a price-to-earnings (PE) ratio of 29.53, and a beta of 0.90. Over the past year, CBIZ's stock has fluctuated between a low of $53.37 and a high of $86.36. The 50-day moving average for the shares is $67.80 while the 200-day moving average is $72.80.

CBIZ, Inc. last reported its quarterly earnings results on October 29. The company announced earnings per share (EPS) of $0.84, surpassing analysts' expectations of $0.76 by $0.08. The firm reported a net margin of 7.08% and a return on equity of 15.47%. Revenue for the quarter was $438.90 million, slightly below the consensus expectation of $440.16 million. Year-over-year, CBIZ's revenue grew by 6.9%. Equity analysts predict that CBIZ will report an EPS of 2.65 for the current year.

About CBIZ

CBIZ, Inc. provides a range of financial, insurance, and advisory services throughout the United States and Canada. Its operations are organized into several segments, including Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services segment focuses on accounting, tax, financial advisory, valuation, risk and advisory, alongside consulting services for government healthcare.

Investment Considerations

Individuals interested in investing in CBIZ should assess their options carefully. While analysts currently maintain a "Buy" rating on the stock, some believe there are other stocks that may present better buying opportunities. Potential investors are encouraged to research not just CBIZ but also alternative stocks that could offer more attractive returns.

Cannon, Investment, Shares