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. (CBZ) operates at the intersection of accounting, insurance, and human resources consulting, making its news coverage particularly relevant for investors tracking the professional services sector. As one of the nation's largest providers of integrated business services, CBIZ news often reflects broader trends affecting mid-market companies across the United States.
News coverage for CBIZ typically centers on several recurring themes. Earnings announcements reveal performance across the company's financial services and employee services divisions, with particular attention to organic growth versus acquisition-driven expansion. Strategic acquisitions of regional accounting practices and insurance brokerages form a key part of CBIZ's growth strategy, making M&A announcements important signals of the company's market positioning.
Leadership developments and executive appointments indicate strategic direction, especially given the relationship-driven nature of professional services where senior talent directly impacts client retention and business development. Industry recognition and workplace awards reflect the company's competitive position in recruiting and retaining accounting, insurance, and consulting professionals.
CBIZ also publishes thought leadership content including tax planning guides, benefits outlook reports, and market pulse surveys that demonstrate the company's expertise while providing practical value for business decision-makers. These publications often coincide with regulatory changes or open enrollment periods relevant to the company's service offerings.
Follow CBIZ news to track developments in the professional services sector, monitor the company's acquisition activity, and stay informed about leadership changes that may affect strategic direction.
CBIZ, Inc. (NYSE: CBZ) has announced the promotion of Steven Janssen to Managing Director of its
CBIZ, a leading provider of financial, insurance, and advisory services, reported robust financial performance for Q4 and the full year ending December 31, 2022. Total revenue surged by 21.5% in Q4 to $295.0 million, and by 27.8% for the full year to $1,412.0 million. Same-unit revenue rose by 10.1% for Q4 and 10.9% for the year. GAAP EPS increased 52.3% to $2.01, with projected revenue growth of 8% to 10% and GAAP EPS growth of 15% to 17% for 2023. Notably, the company repurchased 2.8 million shares and has a strong balance sheet with $319.9 million in unused borrowing capacity.
CBIZ, Inc. (NYSE: CBZ) announced the appointment of Rodney A. Young as an independent director on February 6, 2023. Mr. Young, currently CEO of Delta Dental of Minnesota, brings extensive experience in the insurance and healthcare sectors. He has previously held executive roles at various public companies, including Angeion Corporation and LecTec Corporation. His appointment is expected to enhance the Board's governance and strategic direction during a period of growth for CBIZ. CEO Jerry Grisko expressed confidence in Mr. Young's contributions, citing his industry expertise and leadership in both business and community settings.
On February 2, 2023, CBIZ (NYSE: CBZ) announced its acquisition of Somerset CPAs and Advisors, a leading accounting firm based in Indianapolis, effective February 1, 2023. Somerset, with over 250 employees and approximately $55 million in revenue, will enhance CBIZ's presence in the Indianapolis financial services market. This acquisition is aimed at providing clients with an extended range of services and improved growth opportunities. Both firms expressed excitement over the synergies expected to arise from this partnership, emphasizing enhanced service capabilities and relationship-building.
CBIZ, Inc. (NYSE: CBZ) will release its financial results for the fourth quarter and full year ending December 31, 2022, on February 16, 2023, before market opening. A conference call led by President and CEO Jerry Grisko and CFO Ware Grove is scheduled for 11 a.m. ET on the same day. The call will be accessible via live webcast on the CBIZ investor relations page, with an archived replay available afterward. CBIZ is a prominent provider of financial, insurance, and advisory services, operating over 120 offices across the United States.
CBIZ Human Capital Management has achieved Nacha Certification for compliance within the Automated Clearing House (ACH) Network. This certification highlights their commitment to maintaining high standards in payroll fund movement. Jim King, President of CBIZ HCM, emphasized the importance of ACH compliance due to the volume of transactions they process annually. The certification not only reflects their dedication but also positions CBIZ HCM as a trusted third-party sender in the ACH Network. CBIZ, a significant player in financial and advisory services, continues to enhance its offerings across the U.S. with a focus on human capital success.
The CBIZ Small Business Employment Index reported a seasonally adjusted hiring increase of 0.84% in December, reversing previous declines. This trend reflects a potential recovery for small businesses, with 24% of surveyed companies increasing staff. However, December's hiring pace was weaker than expected for the holiday season, correlating with disappointing retail sales. The overall private-sector job growth was strong, adding 223,000 jobs nationwide, yet the unemployment rate remained stable at 3.5%. Significant hiring rises were observed in Healthcare, Non-Profit, and Wholesale Distribution.
CBIZ, Inc. (NYSE: CBZ) has appointed Elizabeth Newman as the Chief Administrative Officer and Chief Human Resources Officer effective December 1, 2022. Newman, previously Interim CHRO and Chief of Staff, is set to oversee administrative functions and lead HR initiatives. With extensive experience in organizational transformation, she aims to enhance CBIZ's operational efficiency and cultural development. CBIZ, a significant provider of financial and advisory services with over 6,600 employees, continues its commitment to growth and innovation.
Olympic Steel Inc. (Nasdaq: ZEUS) announced that CEO Richard T. Marabito has been awarded the 2022 Service Center Executive of the Year by Metal Center News. This annual honor, presented to individuals exemplifying service center excellence, marks the second recognition for Olympic Steel's leadership. Under Marabito's tenure since 2019, the company has seen substantial growth in revenue and operations. His leadership is acknowledged for transforming Olympic Steel and advancing the industry through his role as Chairman of the Metals Service Center Institute.
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