Welcome to our dedicated page for Cbiz news (Ticker: CBZ), a resource for investors and traders seeking the latest updates and insights on Cbiz stock.
Overview
CBIZ Inc (CBZ) is a premier professional services firm specializing in accounting, tax advisory, and comprehensive financial services. Recognized for its expertise in providing business and employee solutions, CBIZ has established itself as a trusted advisor to middle-market businesses and organizations nationwide. With a strong emphasis on accuracy and client-centric strategies, the company integrates deep industry knowledge with actionable insights to help clients optimize their financial and human capital management.
Core Business Areas
At its core, CBIZ Inc delivers a broad spectrum of professional services that include:
- Financial Services: Accounting, tax, financial advisory, transaction services, government health care consulting, risk advisory, and valuation services form the backbone of this segment. These services are designed to help clients manage financial operations efficiently while ensuring compliance and strategic growth.
- Benefits and Insurance Services: As one of the nation’s largest brokers for employee benefits and property & casualty insurance, the company offers customized solutions such as retirement plan consulting, payroll services, life and disability insurance, and human resources consulting. These services empower clients to manage their workforce benefits with precision.
- National Practices: This practice group aggregates specialized services including real estate consulting, specialized advisory services, and executive recruitment. These offerings are tailored to meet the nuanced needs of various sectors, ensuring comprehensive support for business operations.
Market Position and Competitive Landscape
CBIZ Inc stands out in the competitive landscape by leveraging its diversified service model and extensive geographical presence. With offices spanning multiple states, the company has positioned itself as a vital resource for businesses across sectors such as banking and financial services, commercial real estate, construction, health care, manufacturing, non-profit organizations, education, technology, and life sciences. The firm's unique combination of multifaceted expertise and a high rate of recurring revenue underscores its resilience in a dynamic market environment. Despite operating in a fragmented industry, CBIZ differentiates itself through its integrated approach, providing end-to-end solutions rather than siloed offerings.
Expertise and Industry Insight
The company is noted for its precise analytical approach and deep industry insights. CBIZ’s team of professionals, known for its extensive experience in areas such as risk analytics and financial forecasting, provides clients with robust, data-driven strategies that address both daily operational requirements and long-term strategic needs. This expertise is not limited to traditional financial and accounting services; it extends into employee benefits consulting, government health care advisory, and a diverse array of consulting services aimed at helping clients navigate challenging economic landscapes.
Client-Centric Approach and Operational Excellence
A significant aspect of CBIZ Inc’s identity is its commitment to personalized, client-centric service. The firm employs an approach that is both consultative and collaborative, ensuring that clients receive tailored solutions that align with their unique business needs. This methodical approach enables clients to streamline their operations, mitigate risks, and enhance overall organizational performance. By maintaining high standards of quality and accountability, CBIZ fosters long-lasting relationships built on trust and mutual success.
National Reach and Capabilities
With an expansive network of offices and a presence in diverse geographic regions of the United States, CBIZ Inc is well-equipped to serve clients nationwide. The company’s operational model is designed to address various scales of business requirements—from localized support to national strategic planning. Its robust infrastructure allows it to efficiently manage large-scale projects and adapt to regional market trends without compromising on service quality.
Integration of Services and Strategic Value
By consolidating its service offerings into three distinct yet interrelated practice groups, CBIZ Inc ensures that clients benefit from a holistic suite of services without facing the challenges of dealing with multiple vendors. This integrated service delivery model not only streamlines client operations but also enhances the overall value proposition. Each service area is anchored by industry-leading expertise and operational proficiency, reinforcing the company’s position as a comprehensive advisor in the professional services domain.
Commitment to Expertise and Continuous Improvement
Central to the company’s philosophy is a commitment to continuous improvement and industry leadership. CBIZ Inc invests in ongoing professional development and technological innovation, which enables it to keep pace with evolving market regulations and emerging trends. This forward-thinking approach has allowed the firm to maintain robust operational performance even in complex and volatile market conditions, ensuring that clients benefit from both proven methodologies and innovative solutions.
Conclusion
In summary, CBIZ Inc (CBZ) is an established professional services provider with an extensive portfolio that spans financial and accounting services, risk management, employee benefits, insurance, and strategic advisory. Its integrated approach, profound industry expertise, and nationwide reach make it a comprehensive and trusted partner for middle-market businesses. By consistently delivering high-quality, customized solutions, CBIZ reinforces its reputation as an authoritative and reliable advisor in an ever-evolving business landscape.
CBIZ (NYSE: CBZ) has launched a new website, enhancing its digital presence with improved user interface and optimized search capabilities. This update reflects the company's commitment to technology-enabled services, providing clients with easier access to resources and solutions. CEO Jerry Grisko emphasized this shift responds to the increased reliance on digital tools amid changing business environments. The site features resources to aid businesses in post-COVID recovery, including the CBIZ Accelerated Recovery Solutions and a podcast series titled “What’s Next?” addressing various business challenges.
CBIZ, Inc. (NYSE: CBZ) announced the acquisition of Middle Market Advisory Group (MMA) from Richey May & Co., effective January 1, 2021. MMA specializes in tax compliance and consulting for middle-market firms in various sectors, generating approximately $3.6 million in annual revenue. This acquisition enhances CBIZ's Colorado practice by adding 26 skilled employees and broadening its expertise in key industries such as real estate and technology. CBIZ aims to leverage MMA's client service reputation to better support middle-market businesses and high-net-worth individuals.
The CBIZ Small Business Employment Index (SBEI) reported a 0.32% increase in December 2020, indicating resilience among small businesses amid COVID-19. Data revealed that 27.63% of companies added staff, with notable hiring growth in Healthcare, Financial Services, and Retail Trade. However, small business jobs decreased by 13,000 according to ADP and Moody’s. Regional hiring varied, with the Northeast seeing a 1.18% increase. Optimism remains for 2021, contingent on consumer sentiment and vaccination efforts, according to Executive VP Philip Noftsinger.
CBIZ CMF is rebranding to CBIZ Private Equity Advisory, emphasizing its commitment to providing specialized services for private equity firms and portfolio companies. The firm has supported over 300 private equity firms and 1,500 portfolio companies, experiencing over 100% revenue growth in the last three years. The services offered include Deal Advisory and Performance Management & Improvement, targeting the investment lifecycle from pre-acquisition to exit. Staffed with over 100 professionals, CBIZ aims to enhance investor and executive outcomes.
CBIZ, Inc. (NYSE: CBZ) has acquired Borden Perlman Insurance Agency, Inc. (BP), a family-owned company based in Ewing, NJ, effective December 31, 2020. With over 100 years of experience, BP specializes in property and casualty insurance, focusing on liability and risk management for mid-market clients across the U.S. The agency employs 65 staff and generates approximately $16 million in annual revenue. Jerry Grisko, CEO of CBIZ, emphasized this acquisition as a strategic move to expand their presence in growing markets and enhance client service.
CBIZ, Inc. (NYSE: CBZ) announced the acquisition of BeyondPay, Inc., effective December 1, 2020. BeyondPay, a full-service human capital management and payroll provider based in Clinton, NJ, has 40 employees and generates approximately $4.6 million in annual revenue. This acquisition is expected to enhance CBIZ's HR and payroll solutions, leveraging BeyondPay's technical expertise to improve service delivery and accelerate growth in a complex regulatory environment.
The CBIZ Small Business Employment Index (SBEI) revealed a 1.06% seasonally adjusted decrease in small business hiring for November, diverging from historical trends typically bolstered by the holiday season. Factors such as waning consumer confidence and rising COVID-19 cases negatively impacted hiring. The SBEI tracks over 3,500 companies with 300 or fewer employees. While the West region saw a hiring increase of 1.36%, other regions experienced declines. In November, 19% of companies increased staffing, while 26% reduced it.
The CBIZ Small Business Employment Index (SBEI) reported a 1.18% increase in hiring for October, despite uncertainties surrounding COVID-19 and the U.S. election. Traditionally, October sees lower hiring rates, but robust consumer engagement has driven growth this year. The index tracks over 3,500 small businesses. Notably, hiring rose in all U.S. regions, with the West leading at 2.61%. However, sectors like Construction and Financial Services experienced declines. Future trends may hinge on consumer confidence and potential COVID-19 lockdowns.
CBIZ reported third-quarter results for 2020 with total revenue of $238.4 million, a 0.6% decline year-over-year. Same-unit revenue dropped 2.0%, while EPS from continuing operations rose 12.5% to $0.36. For the nine months ended September 30, total revenue increased by 1.0% to $752.8 million, despite a 0.8% decrease in same-unit revenue. The company repurchased approximately 1.3 million shares in 2020, reflecting confidence in its financial health. CBIZ completed five acquisitions year-to-date, expected to add $24.6 million in annualized revenue.
CBIZ, a prominent provider of financial, insurance, and advisory services, will announce its Q3 and nine-month financial results for 2020 on October 29, 2020, before market opening. A conference call led by President and CEO Jerry Grisko and CFO Ware Grove is scheduled for 11:00 a.m. (ET) on the same day. Interested investors can pre-register for the call through CBIZ's website. Headquartered in the U.S., CBIZ offers a range of services, positioning itself as a leading accounting and insurance brokerage provider.
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