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 national professional services advisor to middle-market businesses and organizations, and its news flow reflects this broad advisory role. Company announcements regularly highlight developments in accounting, tax, advisory, benefits, insurance, and technology-related services, giving investors and business leaders insight into how CBIZ responds to changing market, regulatory, and workforce conditions.
News about CBIZ often includes leadership appointments and organizational updates that align with strategic priorities. Recent releases have described new roles such as National Leader, Industries, Vice President of Artificial Intelligence, National Leader of Private Client Services, and Chief Investment Officer of CBIZ Investment Advisory Services, LLC. These items illustrate how the company builds capabilities in industry specialization, AI-led transformation, private client advisory, and investment advisory services.
CBIZ also issues research-driven news, such as its Benefits & Insurance Market Outlook, Tax Planning Guide, Mid-Market Pulse survey, and Employee Experience Guide. These reports cover topics like rising healthcare and benefit costs, regulatory shifts, tax law changes, cost pressures, tariffs, financing challenges, AI and automation, and strategies for improving employee experience. Earnings releases and related 8-K filings provide updates on quarterly and year-to-date financial performance, along with commentary from senior leadership on business conditions and outlook.
Visitors to the CBZ news page can use this stream of press releases and analyses to follow how CBIZ addresses middle-market client needs, adapts its service offerings, and manages corporate governance and capital markets communication. For investors, clients, and analysts, the news feed offers a centralized view of the company’s strategic direction, financial reporting, and thought leadership across its core practice areas.
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.
CBIZ's Main Street Index reveals that over 43% of small to mid-sized U.S. businesses suffered significant impacts from COVID-19. The survey, spanning over 1,600 businesses, shows that 51% reported decreased sales, and nearly 85% utilized the Payroll Protection Program. Smaller firms, especially those with 1-4 employees, were hit hardest, with 48% facing severe challenges. Despite this, over 40% plan to increase marketing spending, indicating a willingness to invest amid uncertainty.
The CBIZ Small Business Employment Index reported a 1.5% increase in hiring for September, marking a surprise growth as businesses typically reduce headcounts during this month. This positive trend reflects a broader economic recovery despite challenges. The report, which analyzes data from over 3,400 small businesses, highlighted growth across all four U.S. regions, with the Central region leading at 1.55%. However, certain industries such as Real Estate and Retail saw declines in hiring.
CBIZ raised over $83,000 during its first-ever virtual fundraising campaign for Dress for Success, more than double the amount from the previous year. The initiative, organized by CBIZ Women's Advantage, saw participation from over 800 employees. Funds will support 46 Dress affiliates across the U.S. amid challenges from the COVID-19 pandemic. Approximately 80% of affiliates reported client layoffs, highlighting the financial hardships faced by women in the workforce. CBIZ's ongoing partnership with Dress for Success has contributed over $585,000 since 2008.