Cbiz Inc Stock Price, News & Analysis

The CBIZ Small Business Employment Index (SBEI) reported a seasonally adjusted increase of 0.86% for March, concluding Q1 2021 positively. This growth follows February's hiring progress. Compiling data from over 3,500 small businesses, the SBEI indicated that 26.3% of companies expanded their workforce, while hiring rose notably in the Northeast (1.61%) and West (1.27%). Hiring also grew in Arts and Entertainment and Accommodation and Food Services, despite declines in Mining and Technology sectors. The report highlights resilience in small business hiring amid ongoing pandemic recovery.

CBIZ, Inc. (NYSE: CBZ) released the Q1 2021 CBIZ Main Street Index, highlighting the ongoing effects of COVID-19 on small and midsize businesses (SMBs) in the U.S. Surveying over 2,480 businesses, it found that 14% faced severe impact, while 61% cited revenue loss as their main concern. Despite these challenges, about 75% expressed optimism, driven by factors like vaccine distribution and adaptability. Notably, 22% reported growth in marketing efforts, indicating some businesses are evolving and reinvesting despite economic uncertainty.

CBIZ, Inc. (NYSE: CBZ) has revealed the finalists for its inaugural Women Transforming Business Award in celebration of International Women's Day. The award honors female leaders for their transformational impact in financial strength, innovation, or culture. Finalists include leaders from various sectors, such as Danielle David of CRB and Emilia DiMenco of the Women’s Business Development Center. A winner will be announced during a virtual event on April 27, 2021. This initiative reflects CBIZ's commitment to supporting female business leaders and recognizes their significant contributions.

The CBIZ Small Business Employment Index (SBEI) reported a seasonally adjusted gain of 0.99% for February, indicating a rebound from January’s decline as COVID-19 restrictions ease. The SBEI tracks payroll trends for over 3,400 small businesses. February also saw private-sector jobs rise by 117,000, with small businesses contributing 32,000 of these. The West region led growth at 4.58%, particularly in Accommodation and Food Services. The outlook remains positive as more sectors reopen, with potential for further hiring growth.

CBIZ, a leading financial and advisory services firm, has promoted Thomas Bonney to National Leader of its Financial Services Advisory Practice. This promotion aims to enhance the company's advisory capabilities as demand grows among clients for comprehensive financial solutions. Bonney, who has over 30 years of experience, will focus on developing a national go-to-market strategy and acquiring strategic consulting practices. This leadership change reflects CBIZ's commitment to evolving its advisory services and addressing complex financial challenges faced by clients.

CBIZ reported Q4 2020 revenues of $211.1 million, up 3.9% year-over-year, driven by $5.8 million from acquisitions. Same-unit revenue rose 1.1%. For the full year, revenues reached $963.9 million, a 1.6% increase, yet same-unit revenue declined by 0.4%. Income from continuing operations was $78.3 million ($1.42 per diluted share), up 11.8%. CBIZ expects 2021 revenue growth of 5% to 8% and EPS growth of 8% to 12%. The company also repurchased 2.9 million shares in total and maintains a strong financial position with $286 million in unused borrowing capacity.

The CBIZ Small Business Employment Index (SBEI) reported a seasonally adjusted decline of 1.29% in January 2021, the largest drop since May 2020. This trend reflects challenges faced by small businesses amid pandemic-related restrictions and adverse winter weather. In January, 15.3% of companies expanded their workforce, while 33.3%-4.20%. Despite small businesses adding 51,000 jobs, the overall outlook remains cautious due to ongoing economic pressures.

CBIZ, Inc. (NYSE: CBZ), a top provider of financial and advisory services, will release its financial results for the fourth quarter and full year ending December 31, 2020, on February 18, 2021, before market opening. A conference call led by President and CEO Jerry Grisko and CFO Ware Grove will occur at 11:00 a.m. ET on the same day to discuss the results. Investors can access the call via the company's investor relations page, and a replay will be available afterward.

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.