Cbiz (CBZ)

CBIZ, Inc. is a leading provider of financial, insurance and advisory services to businesses throughout the United States. Financial services include accounting, tax, transaction advisory, risk advisory, valuation services and government health care consulting. Insurance services include employee benefits consulting, retirement plan consulting, property and casualty insurance, payroll, and human capital consulting. With more than 100 Company offices in 31 states, CBIZ is one of the largest accounting and insurance brokerage providers in the U.S.

Company profile

Ticker

CBZ

Exchange

NYSE

Website

www.cbiz.com

CEO

Jerome Grisko

Incorporated

Delaware

Location

Ohio

Fiscal year end

Dec 31

Sector

Professional, Scientific, and Technical Services > Payroll Services

Industry (SIC)

Services - Business Services, NEC

Alibaba Group Holding • Visa • EBay • DiDi Global • Uber • PayPal • Accenture • Nielsen • Fidelity National Information Services • Mastercard ...

Former names

CENTURY BUSINESS SERVICES INC, INTERNATIONAL ALLIANCE SERVICES INC, REPUBLIC ENVIRONMENTAL SYSTEMS INC

SEC CIK

0000944148

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Associated Insurance Agents, Inc. • CBIZ Accounting, Tax & Advisory of Atlanta, LLC • CBIZ Accounting, Tax & Advisory of Chicago, LLC • CBIZ Accounting, Tax & Advisory of Colorado, LLC • CBIZ Accounting, Tax & Advisory of Kansas City, LLC • CBIZ Accounting, Tax & Advisory of Maryland, LLC • CBIZ Accounting, Tax & Advisory of Memphis, LLC • CBIZ Accounting, Tax & Advisory of Minnesota, LLC • CBIZ Accounting, Tax & Advisory of New England, LLC • CBIZ Accounting, Tax & Advisory of New York, LLC ...

IRS number

222769024

CBZ stock data

1M 1Y 5Y

News

From Benzinga Pro

CBIZ: Q2 Earnings Insights

28 Jul 22

CBIZ (NYSE:CBZ) reported its Q2 earnings results on Thursday, July 28, 2022 at 06:30 AM. Here's what investors need to know about the announcement. Earnings CBIZ beat estimated earnings by 28.57%, reporting an EPS of $0.63 versus an estimate of $0.49.

CBIZ Q2 EPS $0.63 Beats $0.49 Estimate, Sales $362.00M Beat $329.26M Estimate

28 Jul 22

CBIZ (NYSE:CBZ) reported quarterly earnings of $0.63 per share which beat the analyst consensus estimate of $0.49 by 28.57 percent. This is a 26 percent increase over earnings of $0.50 per share from the same period last

Earnings Scheduled For July 28, 2022

28 Jul 22

Companies Reporting Before The Bell • ArcelorMittal (NYSE:MT) is estimated to report earnings for its second quarter.

Press releases

From Benzinga Pro

Small Businesses Report Hiring Growth in July

9 Aug 22

The CBIZ Small Business Employment Index showed a marginal hiring uptick in July with industry trends underscoring consumer sentiment and ongoing shifts in economic trends The CBIZ Small Business Employment Index

CBIZ REPORTS SECOND-QUARTER AND FIRST-HALF 2022 RESULTS AND RAISES FULL-YEAR 2022 GUIDANCE

28 Jul 22

SECOND-QUARTER HIGHLIGHTS: TOTAL REVENUE UP 29.9%; SAME-UNIT REVENUE UP 11.4%GAAP EPS UP 275.0%; ADJUSTED EPS UP 26.0%INCOME FROM CONTINUING OPERATIONS UP 262.9%; ADJUSTED EBITDA UP 29.9%FIRST-HALF HIGHLIGHTS: TOTAL

Majority of Main Street Businesses Remain Confident Despite Persistent Economic Challenges

26 Jul 22

The CBIZ Main Street Index finds almost two in three SMBs maintain a positive outlook despite experiencing compounding effects of inflation, supply chain slowdowns and staffing shortages CBIZ, Inc. (NYSE:CBZ), a

CBIZ TO ANNOUNCE SECOND-QUARTER AND FIRST-HALF 2022 RESULTS ON JULY 28, 2022

12 Jul 22

June Showed Hiring Growth for Small Businesses

12 Jul 22

Investment data

Data from SEC filings

Securities sold

Number of investors

Calendar

29 Jul 22

12 Aug 22

31 Dec 22

Financial summary

Financial statements Chart CBZ financial data

Quarter (USD)	Jun 22	Mar 22	Dec 21	Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	180.88M	180.88M	180.88M	180.88M	180.88M	180.88M
Cash burn (monthly)	2.54M	(no burn)	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	3.69M	n/a	n/a	n/a	n/a	n/a
Cash remaining	177.19M	n/a	n/a	n/a	n/a	n/a
Runway (months of cash)	69.8	n/a	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from Cbiz earnings reports.

Recent insider trades

CBZ insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
10 Aug 22	Chris Spurio	Common Stock	Sell	Dispose S	No	No	45.2539	13,222	598.35K	163,587.538
10 Aug 22	Chris Spurio	Common Stock	Option exercise	Acquire M	No	No	15.55	13,222	205.6K	176,809.538
10 Aug 22	Chris Spurio	Employee Stock Option Common Stock	Option exercise	Dispose M	No	No	15.55	13,222	205.6K	0
8 Aug 22	Jerome P Grisko	Common Stock	Payment of exercise	Dispose F	No	No	43.8433	9,435	413.66K	64,564.337
8 Aug 22	Jerome P Grisko	Common Stock	Option exercise	Acquire M	No	No	15.55	14,407	224.03K	73,999.337
8 Aug 22	Jerome P Grisko	Employee Stock Option Common Stock	Option exercise	Dispose M	No	No	15.55	14,407	224.03K	90,000
5 Aug 22	Jerome P Grisko	Common Stock	Payment of exercise	Dispose F	No	No	43.9634	13,948	613.2K	59,592.337
5 Aug 22	Jerome P Grisko	Common Stock	Option exercise	Acquire M	No	No	15.55	21,333	331.73K	73,540.337
5 Aug 22	Jerome P Grisko	Employee Stock Option Common Stock	Option exercise	Dispose M	No	No	15.55	21,333	331.73K	104,407
4 Aug 22	Burdick Rick L	Common Stock	Gift	Dispose G	No	No	0	2,000	0	174,808

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

CBZ institutional ownership history Ownership history

11.7% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	171	168	+1.8%
Opened positions	21	27	-22.2%
Closed positions	18	18	–
Increased positions	37	47	-21.3%
Reduced positions	89	66	+34.8%

13F shares	Current	Prev Q	Change
Total value	1.96B	1.82B	+7.8%
Total shares	46.65M	46.42M	+0.5%
Total puts	19.5K	8.4K	+132.1%
Total calls	0	4.1K	EXIT
Total put/call ratio	Infinity	2.0	+Infinity%

Largest owners	Shares	Value	Change
Dimensional Fund Advisors	3.68M	$154.58M	-2.3%
P2 Capital Partners	3.49M	$146.31M	0.0%
BLK Blackrock	3.39M	$142.26M	-0.9%
Allspring Global Investments	2.94M	$123.27M	+1.9%
Eaton Vance Management	2.92M	$122.72M	+14.3%
Vanguard	2.55M	$107.11M	+0.9%
FIL	1.92M	$80.66M	-0.0%
Burgundy Asset Management	1.91M	$79.95M	+1.3%
Victory Capital Management	1.63M	$68.25M	+76.1%
SAMG Silvercrest Asset Management	1.5M	$62.91M	-12.0%

Largest transactions	Shares	Bought/sold	Change
GS Goldman Sachs	1.24M	+941.08K	+317.5%
Victory Capital Management	1.63M	+702.86K	+76.1%
Norges Bank	0	-530.41K	EXIT
BloombergSen	484.51K	+484.51K	NEW
Eaton Vance Management	2.92M	+364.89K	+14.3%
Wellington Management	968.44K	-325.11K	-25.1%
Paradice Investment Management	1.03M	-320.43K	-23.7%
Cardinal Capital Management	1.45M	-214.79K	-12.9%
SAMG Silvercrest Asset Management	1.5M	-204.67K	-12.0%
First Manhattan	470.7K	-126.16K	-21.1%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

Management Discussion

The Financial Services practice group revenue for the three months ended June 30, 2022 grew by 39.0% to $259.3 million from $186.6 million during the same period in 2021. Same-unit revenue grew by $20.7 million, or 11.1%, across all service lines, primarily driven by those units that provide traditional accounting and tax-related services, which increased $11.5 million, those units that provide project-oriented advisory services, which increased by $4.5 million, and an increase of $4.3 million in government healthcare compliance business. The impact of acquired
businesses contributed $52.1 million, or 20.1% of 2022 revenue, of which Marks Paneth contributed $37.6 million, or 14.5% of 2022 revenue.
We provide a range of services to affiliated CPA firms under joint referral and administrative service agreements (“ASAs”). Fees earned under the ASAs are recorded as revenue in the accompanying Condensed Consolidated Statements of Comprehensive Income and were approximately $61.0 million and $45.2 million for the three months ended June 30, 2022 and 2021, respectively.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. sophomore Avg

New words: accordion, accrual, agent, audit, Berntson, certified, customary, cybersecurity, defined, disaster, discretion, dispose, Enterprise, event, feature, fee, Fortune, immaterial, merge, multiple, Oklahoma, portion, provision, reduced, reduction, restated, size, slightly, SOFR, Stinnett, swing, Tulsa, unaffiliated, unamortized, unused, upsizing, variety, Women

Removed: evaluating, parent, permitted, relief, wholly

From filing 10-Q 2022 Q2

Financial reports

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