STOCK TITAN

CBIZ, Inc. - CBZ STOCK NEWS

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.

CBIZ, Inc. (NYSE: CBZ) is a leading provider of professional business services that help clients manage their finances and employees more effectively. Headquartered in Cleveland, Ohio, CBIZ offers a wide range of financial services including accounting, tax consulting, financial advisory, government healthcare consulting, risk advisory, real estate consulting, and valuation services. Additionally, CBIZ provides extensive employee services such as employee benefits consulting, property and casualty insurance, retirement plan consulting, payroll services, life insurance, HR consulting, and executive recruitment.

Named one of America’s Best Employers by Forbes in 2015 and recognized as the top employer in the consulting and accounting industry, CBIZ operates over 100 offices across 33 states, making it one of the largest brokers of employee benefits and property/casualty insurance in the U.S.

CBIZ’s business model is structured into three main practice groups: Financial Services, Benefits and Insurance Services, and National Practices. The company serves a diverse array of industries, including agribusiness, SaaS, construction, healthcare, oil and gas, real estate, retail, financial institutions, and government sectors. CBIZ derives a significant portion of its revenue from its Financial Services segment, and primarily operates within the U.S. market.

CBIZ is associated with Mayer Hoffman McCann P.C. (MHM), a national, independent CPA firm. This association allows CBIZ to deliver comprehensive and independent financial services to its clients.

Recent Achievements and Financial Performance

In its most recent financial reports, CBIZ announced strong performance results for both quarterly and nine-month periods. For Q3 2023, CBIZ reported revenues of $410.5 million, a 13% increase compared to the same period in the previous year. Net income for Q3 2023 was $33.7 million, reflecting a robust growth of 22.5% year-over-year. For the first nine months of 2023, CBIZ achieved revenues of $1,263.6 million, marking a 13.1% increase from the corresponding period in 2022. Net income for the same period totaled $133.7 million, a 14.3% increase from the previous year.

The company’s growth strategy is supported by a combination of organic growth and strategic acquisitions. In 2023, CBIZ completed several acquisitions, enhancing its service offerings and expanding its market presence. The company's pipeline for mergers and acquisitions remains active, positioning CBIZ for continued growth in the coming years.

Looking forward to 2024, CBIZ remains optimistic about its business outlook, anticipating favorable economic conditions that will support strong demand for its financial, insurance, and advisory services. The company continues to focus on providing a breadth of services and unmatched expertise, ensuring its clients receive the highest quality support and consulting.

For more information on CBIZ and its services, visit www.cbiz.com.

Rhea-AI Summary

The CBIZ Main Street Index reveals that 64% of small and mid-sized businesses (SMBs) maintain a positive outlook despite challenges from inflation, supply chain slowdowns, and staffing shortages. However, the business confidence score has dropped over 12 points, now below 60. The survey, conducted from June 6 to July 1, included over 1,400 businesses. Key findings show that 80% cite inflation as a top concern, with many adjusting prices to cope. Staffing shortages affect 62% of businesses, and 50% have raised consumer prices due to ongoing supply chain issues.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.37%
Tags
none
-
Rhea-AI Summary

CBIZ, Inc. (NYSE: CBZ) will release its financial results for the second quarter and first half of 2022 on July 28, 2022, before market open. A conference call led by President and CEO Jerry Grisko and CFO Ware Grove will occur at 11 a.m. ET the same day, with live webcasting available on the investor relations section of the CBIZ website. An archived replay will also be accessible post-call. CBIZ is a prominent provider of financial, insurance, and advisory services across the United States, with over 100 offices in 32 states.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.84%
Tags
none
-
Rhea-AI Summary

The CBIZ Small Business Employment Index reported a 0.29% increase in hiring for June, tracking payroll trends across over 3,600 small businesses. Key sectors experiencing growth included Rental, Leasing, and Real Estate, while Retail and Food Services saw declines. The overall private-sector jobs rose by 372,000, but the national unemployment rate remained steady at 3.6%. Regional growth was strongest in the Northeast at 1.28%, while the West faced a decline of -2.35%. Despite these trends, small businesses are cautious due to inflationary pressures.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.88%
Tags
none
Rhea-AI Summary

CBIZ, Inc. (NYSE: CBZ) has acquired Stinnett & Associates, a professional advisory firm based in Tulsa, Oklahoma, effective July 1, 2022. Stinnett offers services such as internal audit, cybersecurity reviews, and business continuity, generating approximately $16.4 million in annual revenue. This acquisition aligns with CBIZ's growth strategy by enhancing its advisory services and expanding its client base. The integration of Stinnett's talented workforce and expertise is expected to create new growth opportunities for CBIZ.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.94%
Tags
-
Rhea-AI Summary

The CBIZ Small Business Employment Index (SBEI) reported a 1.91% decrease in May, reversing positive hiring trends from April. This decline affects companies with 300 or fewer employees and reflects rising operational costs and consumer economic pressures. Notably, small businesses accounted for a decline of 91,000 jobs while the overall job market saw an increase of 128,000 private-sector jobs.

The West and Southeast regions experienced the largest hiring drops, and while Professional Services saw gains, other sectors like Manufacturing and Retail faced declines.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.02%
Tags
none
-
Rhea-AI Summary

CBIZ, Inc. (NYSE: CBZ) has expanded its unsecured credit facility from $400 million to $600 million, extending the maturity date to five years. The agreement also includes a feature allowing lenders to extend an additional $200 million in the future. The company's president highlighted that the growth in revenue has continued into 2022 due to strategic investments in various areas. Since early 2020, CBIZ has made 14 strategic acquisitions and repurchased over 5.5 million shares, equating to about 10 percent of its outstanding shares.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.83%
Tags
none
Rhea-AI Summary

The CBIZ Small Business Employment Index (SBEI) indicated a significant 1.59% increase in April, suggesting positive momentum in the labor market for small businesses. This growth follows two months of hiring increases and reflects strong consumer demand. The index, which monitors trends for over 3,700 small companies, showed broad hiring gains across all U.S. regions, with the Northeast leading at 2.3%. Notably, sectors like Arts and Entertainment saw hiring increases, while Real Estate and Construction faced declines due to rising home prices and materials costs.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.32%
Tags
none
-
Rhea-AI Summary

CBIZ, Inc. (NYSE: CBZ) recently announced the winners of its second annual Women Transforming Business Award, celebrating women who drive financial, cultural, and innovative change. The event featured a keynote by Martha Stewart, who discussed her business journey. Award winners included Rita Gardner from Melmark Inc for financial strength, Mary Frontczak from Compass Minerals for culture, and Sarah Wovcha from Children’s Dental Services for innovation. This initiative highlights the impact of female leaders on business advancement.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.15%
Tags
none
-
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.53%
Tags
none
News
Rhea-AI Summary

CBIZ, a leading financial services provider, reported strong first-quarter results for 2022. Total revenue surged to $391.7 million, marking a 30.3% increase year-over-year. Income from continuing operations rose to $58.1 million or $1.10 per diluted share, up 15.8%. Adjusted EBITDA climbed 26.7% to $92.9 million. The company’s acquisition of Marks Paneth contributed significantly to growth, with 20.7% of revenue growth attributed to acquired operations. CBIZ reaffirms positive revenue growth outlook of 19% to 21% for the year.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.53%
Tags
none

FAQ

What is the current stock price of CBIZ (CBZ)?

The current stock price of CBIZ (CBZ) is $81.25 as of December 20, 2024.

What is the market cap of CBIZ (CBZ)?

The market cap of CBIZ (CBZ) is approximately 4.0B.

What services does CBIZ, Inc. provide?

CBIZ offers a wide range of services including accounting, tax consulting, financial advisory, government healthcare consulting, risk advisory, real estate consulting, valuation services, employee benefits consulting, property and casualty insurance, retirement plan consulting, payroll services, life insurance, HR consulting, and executive recruitment.

Where is CBIZ, Inc. headquartered?

CBIZ, Inc. is headquartered in Cleveland, Ohio.

How many offices does CBIZ, Inc. operate?

CBIZ operates over 100 offices in 33 states across the United States.

What are the primary industries CBIZ, Inc. serves?

CBIZ serves a variety of industries including agribusiness, SaaS, construction, healthcare, oil and gas, real estate, retail, financial institutions, and government sectors.

What recent financial performance highlights has CBIZ, Inc. reported?

For Q3 2023, CBIZ reported revenues of $410.5 million and net income of $33.7 million. For the first nine months of 2023, the company reported revenues of $1,263.6 million and net income of $133.7 million.

Who is CBIZ, Inc. affiliated with?

CBIZ is associated with Mayer Hoffman McCann P.C. (MHM), a national, independent CPA firm.

Does CBIZ, Inc. have a strategy for growth?

Yes, CBIZ employs a strategy that combines organic growth with strategic acquisitions to enhance its service offerings and expand market presence.

How can I learn more about CBIZ, Inc.?

You can learn more about CBIZ and its services by visiting their website at www.cbiz.com.

What recognition has CBIZ, Inc. received?

CBIZ was named one of America’s Best Employers by Forbes in 2015 and was ranked as the #1 employer in the consulting and accounting industry.

CBIZ, Inc.

NYSE:CBZ

CBZ Rankings

CBZ Stock Data

4.04B
47.67M
5.04%
90.97%
2.43%
Specialty Business Services
Services-business Services, Nec
Link
United States of America
INDEPENDENCE