Rodney Young, a director at CBIZ, Inc. (NYSE:CBZ), recently acquired 1,000 shares of the company's common stock. The professional services company, currently valued at $3.9 billion, has demonstrated strong performance with a 35% return over the past year according to InvestingPro data. The transaction was completed on December 9, 2024, at a price of $77.556 per share, amounting to a total value of $77,556. Following this purchase, Young now holds a total of 2,949 shares in the company. Analysts maintain a positive outlook, with price targets ranging from $95 to $99 per share. InvestingPro subscribers can access 12 additional key insights and a comprehensive Pro Research Report, offering deeper analysis of CBIZ's valuation and growth prospects.
In other recent news, CBIZ, a professional services company, has reported significant growth in its recent earnings call. The company saw a 7.1% increase in total revenue for the first nine months of 2024, and a 6.9% rise in the third quarter. The Financial Services division reported an 8.0% revenue increase in Q3, while the Benefits and Insurance division grew by 3.7%.
Adjusted earnings per share (EPS) for Q3 reached $0.84, marking a 27% increase year-over-year. The company is also on track to finalize the acquisition of Marcum, which is expected to significantly enhance CBIZ's service breadth and expertise.
Furthermore, CBIZ maintains an optimistic outlook for the remainder of 2024, reaffirming guidance for 7% to 9% revenue growth. The company also anticipates a full-year adjusted EPS growth of 10% to 12% over the previous year's $2.41. Despite some challenges in maintaining percentage revenue increases at a scale exceeding $200 million and potential transaction expenses impacting cash flow in the first year post-acquisition, CBIZ remains confident in its strategic focus and growth trajectory.
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