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CBIZ (NYSE:CBZ – Get Free Report) announced its earnings results on Monday. The business services provider reported $1.21 earnings per share for the quarter, FiscalAI reports. CBIZ had a net margin of 4.73% and a return on equity of 12.33%. The company had revenue of $702.24 million during the quarter.

CBIZ Stock Performance CBIZ stock opened at $54.77 on Monday. The company has a market cap of $2.97 billion, a PE ratio of 25.59, a PEG ratio of 1.31 and a beta of 0.91. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.74. CBIZ has a 1 year low of $24.29 and a 1 year high of $56.41. The company’s 50-day moving average is $54.68 and its two-hundred day moving average is $41.88.

Institutional Investors Weigh In On CBIZ Several institutional investors have recently modified their holdings of the business. Cygnus Capital Advisors LLC bought a new position in shares of CBIZ in the 2nd quarter worth $5,236,000. Quantinno Capital Management LP grew its stake in shares of CBIZ by 543.8% during the first quarter. Quantinno Capital Management LP now owns 175,005 shares of the business services provider’s stock worth $4,699,000 after purchasing an additional 147,820 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of CBIZ during the second quarter worth $1,340,000. Great Lakes Advisors LLC acquired a new position in shares of CBIZ during the 2nd quarter worth about $1,142,000. Finally, Bank of New York Mellon Corp increased its stake in CBIZ by 17.8% in the first quarter. Bank of New York Mellon Corp now owns 166,787 shares of the business services provider’s stock valued at $4,478,000 after purchasing an additional 25,214 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Ratings Changes Several research analysts recently weighed in on the stock. Barrington Research cut shares of CBIZ from an “outperform” rating to a “hold” rating in a research report on Wednesday, September 16th. William Blair lowered CBIZ from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 23rd. US Capital Advisors set a $55.00 target price on CBIZ in a research note on Thursday, July 30th. Weiss Ratings raised CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, CJS Securities downgraded CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 target price for the company. in a research report on Thursday, July 30th. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.50. Get Our Latest Analysis on CBIZ

CBIZ Company Profile (Get Free Report)

CBIZ, Inc was a provider of accounting, tax, advisory, insurance brokerage and employee benefits services for businesses, individuals and public-sector organizations. Its offerings included audit and assurance, tax planning and compliance, financial and strategic consulting, risk management, commercial insurance, retirement plan services and employee benefit solutions.

Founded in 1996 and headquartered in Cleveland, Ohio, CBIZ grew through a combination of organic expansion and acquisitions.

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CBIZ, Inc

Third-Quarter Financial Highlights: 

Total revenue of $702M, up 1.2%; Financial Services revenue up 1.2%Net income of $47M, up 56.7%; GAAP EPS of $0.79, up 64.6%Adjusted EBITDA of $132M, up 6.3%; Adjusted diluted EPS of $1.21, up 14.2% Nine Months Ended September 30, 2026 Financial Highlights:

Total revenue of $2,233M, up 0.8%; Financial Services revenue up 1.1%Net income of $219M, up 12.2%; GAAP EPS of $3.62, up 18.3%Adjusted EBITDA of $479M, down 1.2%; Adjusted diluted EPS of $4.64, up 5.9%Operating cash flow up $98M; Free cash flow up $91M CLEVELAND, Oct. 19, 2026 (GLOBE NEWSWIRE) -- CBIZ, Inc., (NYSE: CBZ) (“CBIZ” or the “Company”), a leading national professional services advisor, today announced results for the third quarter and nine months ended September 30, 2026.

Proposed Transaction with Grant Thornton and New Mountain
As previously disclosed, CBIZ and an affiliate of Grant Thornton in the U.S. (“Grant Thornton”), backed by New Mountain Capital, announced on July 29, 2026 that they entered into a definitive merger agreement pursuant to which Grant Thornton will acquire CBIZ in an all-cash transaction with an enterprise value of $5.0 billion, or $55.00 per share (the “proposed transaction”).

The proposed transaction is expected to close in the fourth quarter of 2026, subject to approval by CBIZ shareholders, receipt of required regulatory approvals, and satisfaction of other customary closing conditions. Following the completion of the proposed transaction, CBIZ’s common stock will no longer be listed on the New York Stock Exchange, and CBIZ will become a private company.

Full Year Financial Outlook and Conference Call Information
Due to the proposed transaction and as previously disclosed, the Company will not be providing financial guidance for the full year 2026 or hosting a conference call to discuss third quarter results.

About CBIZ
CBIZ, Inc. (NYSE: CBZ) is a leading professional services advisor to middle market businesses nationwide. With industry knowledge and expertise in accounting, tax, advisory, benefits, insurance, and technology, CBIZ delivers actionable insights to help clients anticipate what is next and discover new ways to accelerate growth. CBIZ has more than 9,500 team members across 23 major markets coast to coast. For more information, visit www.cbiz.com.

Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical fact included in this release, including, without limitation, statements about the proposed transaction, our financial position, business strategy, plans and objectives for future performance, are forward-looking statements. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Forward-looking statements are commonly identified by the use of such terms and phrases as “will,” “could,” “can,” “may,” “strive,” “hope,” “intend,” “believe,” “estimate,” “continue,” “plan,” “expect,” “project,” “anticipate,” “outlook,” “foreseeable future,” “seek” and words or phrases of similar import in connection with any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance or results of current and anticipated services, sales efforts, expenses, and financial results.

From time to time, we may also provide oral or written forward-looking statements in other materials we release to the public. Any or all of our forward-looking statements in this release and in any other public statements that we make are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, but are not limited to: that one or more closing conditions to the proposed transaction, including certain regulatory approvals, may not be satisfied or waived, on a timely basis or otherwise, or that the required approval by the shareholders of CBIZ may not be obtained; the risk that the proposed transaction may not be completed on the terms or in the time frame expected by CBIZ and Grant Thornton, or at all; unexpected costs, charges or expenses resulting from the proposed transaction; uncertainty of the expected financial performance and results of operations of the combined company following completion of the proposed transaction; failure to realize the anticipated benefits of the proposed transaction, including as a result of delay in completing the proposed transaction or integrating the businesses of CBIZ and Grant Thornton, on the expected timeframe or at all; the ability of the combined company to implement its business strategy; difficulties and delays in the combined company achieving revenue and cost synergies; inability of the combined company to retain and hire key personnel; the occurrence of any event that could give rise to termination of the proposed transaction; the risk that shareholder litigation in connection with the proposed transaction or other litigation, settlements or investigations may affect the timing or completion of the proposed transaction or result in significant costs of defense, indemnification and liability; evolving legal, regulatory and tax regimes; changes in general economic, competitive, technological and/or industry-specific conditions affecting the businesses and industries in which CBIZ and Grant Thornton operate; actions by third parties, including government agencies and ratings agencies, relating to the proposed transaction; risks that any debt financing anticipated in connection with the proposed transaction is not obtained or that such financing cannot be obtained on the anticipated timing or terms or unexpected costs or expenses in connection therewith; risks related to the disruption of management time from ongoing business operations due to the pendency of the proposed transaction, or other effects of the pendency of the proposed transaction on the relationship of any of the parties to the transaction with their employees, customers, partners, or other counterparties; risks that any announcements relating to the proposed transaction could have adverse effects on the market price of CBIZ’s common stock, credit ratings, or operating results, and may have an adverse effect on the ability of CBIZ to retain and hire key personnel, retain customers, and maintain relationships with business partners, suppliers and customers; the risk that the market price of CBIZ’s common stock may decline if the proposed transaction is not completed; our ability to maintain effective internal control over financial reporting and disclosure controls and procedures, including ability to remediate our material weaknesses in our internal control over financial reporting; payments on accounts receivable may be slower than expected, or amounts due on receivables or notes may not be fully collectible; our business could be adversely affected if the non-attest business assets we acquired, or the attest assets CBIZ CPAs P.C. acquired, from Marcum LLP (“Marcum”) do not perform to our expectations or we underestimate the liabilities we have assumed; we are dependent on the services of our executive officers, and other key employees, the loss of any of whom may have a material adverse effect on our business, financial condition and results of operations; our profitability could suffer if we are not able to effectively utilize our employees, maintain operational efficiencies or manage our cost structure; restrictions imposed by independence requirements and conflict of interest rules, as well as the nature and terms of our current administrative service agreements, limit our ability to provide services to clients of the attest firms with which we have contractual relationships and the ability of such attest firms to provide attestation services to our clients; our goodwill and other intangible assets could become impaired, which could lead to material non-cash charges against earnings and a material impact on our results of operations and financial condition; certain liabilities resulting from acquisitions are estimated and could lead to a material impact on our results of operations; we may fail to realize the anticipated benefits of acquisitions, or they may prove disruptive and could result in the combined business failing to meet our expectations; claims or adverse publicity could harm our brand, reputation and ability to compete and attract and retain clients, talent and future acquisition targets; we may not be able to acquire and finance additional businesses, which could limit our ability to pursue our business strategy; we will incur transaction, integration, and restructuring costs in connection with our acquisition program; governmental regulations and interpretations are subject to changes, which could have a material adverse effect on our financial condition; uncertainty in the current economic and geopolitical environment could lead to declines in demand for certain of our services; changes in the United States healthcare environment, including new healthcare legislation, may adversely affect the revenue and margins in our healthcare benefit business; we are subject to risks relating to processing customer transactions for our payroll and other transaction processing businesses; cyberattacks or other security breaches involving our computer systems or the systems of one or more of our vendors could materially and adversely affect our business; we are subject to risk as it relates to software that we license from third parties; we are reliant on information processing systems and any failure or disruptions of these systems could have a material adverse effect on our business, financial condition and results of operations; we could be held liable for errors and omissions; the business services industry is competitive and fragmented, if we are unable to compete effectively, our business, financial condition and results of operations could be negatively impacted; failure to maintain our reputation and brand could impact our ability to attract and retain clients, employees and future acquisition targets, and may have a material adverse effect on our business, financial condition and results of operations; we are dependent on our existing client base and our ability to retain and expand our relationships with those clients; our clients may terminate our engagements with little or no notice and without penalty, which may result in unexpected declines in our revenue or unexpected costs; given our levels of share-based compensation, our tax rate may vary significantly depending on our stock price; we may be subject to the actions of activist stockholders; rapid technological changes could significantly impact our competitive position, client relationships and operating results and our ability to realize the anticipated benefits of our acquisition of the non-attest business assets and liabilities of Marcum and CBIZ CPAs P.C.’s purchase of substantially all of Marcum’s attest business assets (the “Marcum Transaction”); the widespread outbreak of a communicable illness or any other public health crisis could adversely affect our business, financial condition and results of operations; we require a significant amount of cash for interest payments on our debt and to expand our business as planned; terms of our amended and restated credit agreement providing for $2.0 billion in senior secured credit facilities, consisting of a $1.4 billion term loan and $600 million revolving credit facility, could adversely affect our ability to run our business and/or reduce stockholder returns; our failure to satisfy covenants in our debt instruments could cause a default under those instruments; our increased leverage following the Marcum Transaction may adversely impact our business; we may be more sensitive to revenue fluctuations than other companies, which could result in fluctuations in the market price of our common stock; the significant number of shares issuable as the stock consideration in the Marcum Transaction may adversely impact our stock price; the future issuance of additional shares could adversely affect the price of our common stock; and there is volatility in our stock price.

Such forward-looking statements can be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties. Should one or more of these risks materialize, or should the underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, projected or implied. Consequently, no forward-looking statement can be guaranteed. Our actual future results may vary materially. All forward looking statements made in this release are made only as of the date hereof, and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are advised, however, to consult any further disclosures we make on related subjects in the current, quarterly, periodic and annual reports we file with the Securities and Exchange Commission. Also note that we provide a cautionary discussion of the risks, uncertainties and possibly inaccurate assumptions relevant to our businesses in “Item 1. Business” and “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, as amended. These are factors that we think could cause our actual results to differ materially from expected and historical results. Other factors besides those described here could also adversely affect our operating or financial performance.

Non-GAAP Financial Measures
To supplement our consolidated financial statements, which are prepared and presented in accordance with United States Generally Accepted Accounting Principles (“GAAP”), we also present Adjusted Net Income (Loss), Adjusted Diluted Earnings Per Share (“EPS”), Adjusted EBITDA, Adjusted EBITDA Margin and Free Cash Flow, which are non-GAAP measures. These non-GAAP measures are adjusted to exclude the impact of the Marcum Transaction, integration costs, amortization of acquired intangible assets, and other significant non-operating related gains and losses management does not consider ongoing in nature. The presentation of non-GAAP financial information is designed to supplement the Company’s financial information presented in accordance with GAAP, is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. We use these non-GAAP financial measures for financial and operational decision-making, and to evaluate results relative to employee compensation targets. We believe that these non-GAAP financial measures provide meaningful supplemental information to stockholders, debt holders, and other interested parties in assessing our performance. These non-GAAP financial measures also facilitate management’s internal comparisons to our historical performance by excluding significant acquisition expenses, certain one-time non-recurring items, and gains and losses that management does not consider ongoing in nature. We believe these non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to key measures used by management in its financial and operational decision-making and (2) they are used by our stockholders and analyst community to determine the health of our business. These non-GAAP measures may not be comparable to similar non-GAAP measures presented by other companies. The presentation of such non-GAAP measures, which may include exclusions of non-recurring items, should not be construed as an inference that the Company's future results will be unaffected by other non-recurring items. Management provides specific information regarding the GAAP amounts excluded from or included in these non-GAAP financial measures. Additionally, management provides reconciliations of these non-GAAP financial measures to their most comparable financial measures presented in accordance with GAAP. Please see the schedules captioned “GAAP Reconciliation” at the end of this release for additional information and the applicable reconciliations.

Contact:
Investor Relations: Chris Sikora, VP, Investor Relations & Corporate Finance, [email protected]  
Media: Amy McGahan, Director of Corporate & Strategic Communications, [email protected]
CBIZ, Inc., Cleveland, Ohio, (216) 447-9000

CBIZ, INC.
FINANCIAL HIGHLIGHTS (UNAUDITED)
THREE MONTHS ENDED SEPTEMBER 30, 2026 AND 2025
(In thousands, except percentages and per share data)
   Three Months Ended September 30,   2026  %  2025  %Revenue $702,240  100.0 % $693,818  100.0 %Operating expenses(1)  588,186  83.8   603,689  87.0 Gross margin  114,054  16.2   90,129  13.0 Corporate general and administrative expenses(1)  23,877  3.4   31,265  4.5 Operating income  90,177  12.8   58,864  8.5 Other (expense) income:        Interest expense  (23,986) (3.4)  (27,960) (4.0)Gain from acquisition related adjustments, net  —  —   1,124  0.2 Other income, net(1) (2)  1,449  0.2   8,378  1.2 Total other expense, net  (22,537) (3.2)  (18,458) (2.6)Income before income tax expense  67,640  9.6   40,406  5.9 Income tax expense  20,404     10,260   Net income $47,236  6.7 % $30,146  4.3 %         Diluted income per share:        Diluted earnings per share $0.79    $0.48            Diluted weighted average common shares outstanding  59,986     62,699   Other data:        Adjusted EBITDA(3) $131,852  18.8 % $124,005  17.9 %Adjusted Diluted EPS(3) $1.21    $1.06    (1) We sponsor a Non-qualified Deferred Compensation Plan (the “deferred compensation plan”), under which a CBIZ employee’s compensation deferral is held in a rabbi trust and invested accordingly as directed by the employee. The activities related to the deferred compensation plan are recorded in “Corporate and Other” for segment reporting purposes. Gains and losses resulting from the adjustments to the fair value of the invested assets in the deferred compensation plan are recorded as an increase or decrease to the “Other income (expense), net”, directly offset by the same adjustments as an increase or decrease to compensation expense (recorded as “Operating expense” or “Corporate general and administrative expense”) in the accompanying Unaudited Condensed Consolidated Statements of Comprehensive Income. The deferred compensation plan has no impact on “Income before income tax expense” or diluted earnings per share.     Income and expenses related to the deferred compensation plan for the three months ended September 30, 2026, and 2025, are as follows (in thousands, except percentages):   Three Months Ended September 30,Income statement line items:  2026  % of Revenue  2025 % of RevenueOperating expenses $(566) (0.1)% $7,847 1.1 %Corporate general & administrative expenses  (191) —  1,076 0.2 %Other income, net  (757) (0.1)%  8,923 1.3 %              Excluding the impact of the above-mentioned income and expenses related to the deferred compensation plan, the operating results for the three months ended September 30, 2026, and 2025, are as follows (in thousands, except percentages):

  Three Months Ended September 30,  2026   2025   As Reported
  Deferred Compensation Plan
   Adjusted % of Revenue  As Reported  Deferred Compensation Plan   Adjusted  % of RevenueGross margin$114,054 $         (566) $113,488 16.2 % $  90,129 $       7,847  $  97,976  14.1 %Operating income     90,177             (757)      89,420 12.7 %      58,864           8,923       67,787  9.8 %Other income (expense), net       1,449              757         2,206 0.3 %        8,378          (8,923)         (545) (0.1)%Income before income tax expense     67,640                 —       67,640 9.6 %      40,406                 —       40,406  5.8 % (2) Included in “Other income, net” for the three months ended September 30, 2026, and 2025, is income of $1.1 million and expense of $0.5 million, respectively, related to net changes in the fair value of contingent consideration related to CBIZ's prior acquisitions.   (3) Refer to the schedules reconciling Adjusted Diluted EPS and Adjusted EBITDA to the most directly comparable GAAP financial measures at the end of this release, and for additional information as to the usefulness of the non-GAAP financial measures to stockholders and investors, see “Non-GAAP Financial Measures”. CBIZ, INC.
FINANCIAL HIGHLIGHTS (UNAUDITED)
NINE MONTHS ENDED SEPTEMBER 30, 2026 AND 2025
(In thousands, except percentages and per share data)
   Nine Months Ended September 30,   2026  %  2025  %Revenue $2,233,025  100.0 % $2,215,328  100.0 %Operating expenses(1)  1,820,516  81.5   1,809,188  81.7 Gross margin  412,509  18.5   406,140  18.3 Corporate general and administrative expenses(1)  103,754  4.6   86,972  3.9 Operating income  308,755  13.9   319,168  14.4 Other (expense) income:        Interest expense  (72,237) (3.2)  (80,983) (3.7)Gain from acquisition related adjustment, net  57,955  2.6   1,124  0.1 Other income, net(1) (2)  11,382  0.5   31,786  1.4 Total other income (expense), net  (2,900) (0.1)  (48,073) (2.2)Income before income tax expense  305,855  13.7   271,095  12.2 Income tax expense  87,228     76,234   Net income  218,627  9.8 %  194,861  8.8 %         Diluted earnings per share $3.62    $3.06            Diluted weighted average common shares outstanding  60,333     63,609   Other data:        Adjusted EBITDA(3) $479,345  21.5 % $485,127  21.9 %Adjusted Diluted EPS(3) $4.64    $4.38    (1) We sponsor a Non-qualified Deferred Compensation Plan (the “deferred compensation plan”), under which a CBIZ employee’s compensation deferral is held in a rabbi trust and invested accordingly as directed by the employee. The activities related to the deferred compensation plan are recorded in “Corporate and Other” for segment reporting purposes. Gains and losses resulting from the adjustments to the fair value of the invested assets in the deferred compensation plan are recorded as an increase or decrease to the “Other income (expense), net”, directly offset by the same adjustments as an increase or decrease to compensation expense (recorded as “Operating expense” or “Corporate general and administrative expense”) in the accompanying Unaudited Condensed Consolidated Statements of Comprehensive Income. The deferred compensation plan has no impact on “Income before income tax expense” or diluted earnings per share.     Income and expenses related to the deferred compensation plan for the nine months ended September 30, 2026, and 2025, are as follows (in thousands, except percentages):   Nine Months Ended September 30,Income statement line items:  2026 % of Revenue  2025 % of RevenueOperating expense $13,478 0.6 % $17,132 0.8 %Corporate general and administrative expenses  1,788 0.1 %  2,415 0.1 %Other income, net  15,266 0.7 %  19,547 0.9 %              Excluding the impact of the above-mentioned income and expenses related to the deferred compensation plan, the operating results for the nine months ended September 30, 2026, and 2025, are as follows (in thousands, except percentages):

 Nine Months Ended September 30,  2026   2025   As Reported Deferred Compensation Plan  Adjusted  % of Revenue  As Reported  Deferred Compensation Plan   Adjusted % of RevenueGross margin$412,509 $13,478  $425,987  19.1 % $406,140 $17,132  $423,272 19.1 %Operating income 308,755  15,266   324,021  14.5 %  319,168  19,547   338,715 15.3 %Other income, net 11,382  (15,266)  (3,884) (0.2)%  31,786  (19,547)  12,239 0.6 %Income before income tax expense 305,855  —   305,855  13.7 %  271,095  —   271,095 12.2 % (2) Included in “Other income, net” for the nine months ended September 30, 2026, and 2025, is income of $2.6 million and expense of $2.0 million, respectively, related to net changes in the fair value of contingent consideration related to CBIZ's prior acquisitions.   (3) Refer to the schedules reconciling Adjusted Diluted EPS and Adjusted EBITDA to the most directly comparable GAAP financial measures at the end of this release and for additional information as to the usefulness of the non-GAAP financial measures to stockholders and investors see “Non-GAAP Financial Measures”. CBIZ, INC.
FINANCIAL HIGHLIGHTS (UNAUDITED)
SELECT SEGMENT DATA
(In thousands)
   Three Months Ended
September 30, Nine Months Ended
September 30,   2026   2025   2026   2025 Revenue        Financial Services(1) $597,791  $590,431  $1,918,445  $1,897,036 Benefits and Insurance Services  104,449   103,387   314,580   318,292 Total Revenue $702,240  $693,818  $2,233,025  $2,215,328          Gross Margin        Financial Services(1) $109,931  $95,905  $400,003  $386,813 Benefits and Insurance Services  18,299   19,305   56,901   64,845 Operating expenses - unallocated(2):        Other expense $(14,742)
 $(17,234)
 $(30,917)
 $(28,386)
Deferred compensation  566
  (7,847)
  (13,478)
  (17,132)
Total Gross Margin $114,054  $90,129  $412,509  $406,140 As a % of Revenue  16.2 %  13.0 %  18.5 %  18.3 % (1) During the nine months ended September 30, 2026, the National Practice group was combined with the Financial Service practice group to better align with internal management and reporting structure. As a result, the Financial Services revenue and gross margin for the three and nine months ended September 30, 2025 was adjusted to reflect this change.   (2) Represents operating expenses not directly allocated to individual businesses, including stock-based compensation, consolidation and integration charges, and certain advertising expenses. “Operating expenses - unallocated” also includes gains or losses attributable to the assets held in a rabbi trust associated with the Company's deferred compensation plan. These gains or losses do not impact “Income before income tax expense” as they are directly offset by the same adjustment to “Other income (expense), net” in the Consolidated Statements of Comprehensive Income. Net gains or losses recognized from adjustments to the fair value of the assets held in the rabbi trust are recorded as compensation expense (income) in “Operating expenses” and “Corporate, general and administrative expenses,” and offset in “Other income (expense), net.” CBIZ, INC.
SELECT CASH FLOW DATA (UNAUDITED)
(In thousands)
   Nine Months Ended September 30,   2026   2025 Net income $218,627  $194,861 Adjustments to reconcile net income to net cash provided by operating activities:    Gain on sale of operations, net of tax  —   (1,124)Depreciation and amortization expense  70,411   74,313 Bad debt expense, net of recoveries  5,072   3,216 Adjustment to contingent purchase price liabilities  (2,638)  1,984 Stock-based compensation expense  22,158   19,572 Deferred income taxes  22,939   8,815 Other, net  5,477   5,256 Changes in assets and liabilities, net of acquisitions and divestitures:    Accounts receivable, net  (231,285)  (186,884)Other assets  (8,771)  (31,071)Accounts payable  (8,835)  9,162 Income taxes payable  45,465   46,364 Accrued personnel costs  (14,389)  (33,962)Other liabilities  22,824   (61,656)Net cash provided by operating activities  147,055   48,846 Net cash used in investing activities  (29,303)  (16,913)Net cash used in financing activities  (185,915)  (75,233)Net decrease in cash, cash equivalents and restricted cash  (68,163)  (43,300)Cash, cash equivalents and restricted cash at beginning of year  218,090   187,170 Cash, cash equivalents and restricted cash at end of period $149,927  $143,870      Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheet:Cash and cash equivalents $17,551  $16,969 Restricted cash  40,853   44,455 Cash equivalents included in funds held for clients  91,523   82,446 Total cash, cash equivalents and restricted cash $149,927  $143,870  CBIZ, INC.
GAAP RECONCILIATION
Operating Cash Flow to Free Cash Flow(1)
(Unaudited. Amounts in thousands, except per share data)
   Nine Months Ended September 30,   2026   2025 Net cash provided by operating activities $147,055  $48,846 Less:    Additions to property and equipment  (21,820)  (15,035)Free Cash Flow $125,235  $33,811  (1) This table reconciles Free Cash Flow to the most directly comparable GAAP financial measure of net cash provided by operating activities. Free Cash Flow is a non-GAAP measure that management believes provides a more complete understanding of the factors and trends affecting our cash flows. This information is useful to investors, as it offers a measure of cash generated from our business that can be used for our strategic business objectives. CBIZ, INC.
SELECT FINANCIAL DATA AND RATIOS (UNAUDITED)
(In thousands, except percentages, DSO, and per share data)
   September 30,
2026 December 31,
2025Cash and cash equivalents $17,551  $18,290 Restricted cash  40,853   38,234 Accounts receivable, net  782,392   555,995 Other current assets  88,389   79,693 Current assets before funds held for clients $929,185  $692,212 Funds held for clients  134,454   207,037 Goodwill and other intangible assets, net  2,828,643   2,869,790      Total assets $4,610,429  $4,409,528      Current liabilities before client fund obligations, excluding short-term debt $468,227  $462,484 Client fund obligations  135,305   206,738 Current portion, Term Loan(1) $96,250  $70,000 Revolver Facility(1)  176,500   142,400 Long-term portion, Term Loan(1)  1,181,250   1,260,000      Total liabilities $2,697,705  $2,647,461      Treasury stock  (1,156,495)  (1,078,521)     Total stockholders' equity $1,912,724  $1,762,067      Debt to equity  66.8%   75.5%      Shares outstanding  54,761   54,380 Basic weighted average common shares outstanding  60,057   62,909 Diluted weighted average common shares outstanding  60,333   63,240  (1) Reflects the gross debt for the Term Loan and Revolving Credit Facility excluding the associated unamortized deferred debt issuance costs totaling $13.8 million and $16.5 million, respectively, as of September 30, 2026 and December 31, 2025. CBIZ, INC.
GAAP RECONCILIATION
Net Income (Loss) and Diluted Earnings Per Share (“EPS”) to Adjusted Net Income (Loss), Adjusted Diluted EPS,
Adjusted EBITDA, and Adjusted EBITDA Margin(1)
(Unaudited. Amounts in thousands, except per share data)  Three Months Ended September 30, 2026 Financial Services Benefits and Insurance Services Corporate &
Other Consolidated EPSNet income (loss)$110,323  $18,495  $(81,582) $47,236  $0.79 Adjustments:         Amortization of acquired intangible assets 17,138   1,085   —   18,223   0.30 Integration costs related to acquisitions(2) 1,008   1   16,312   17,321   0.29 Corporate projects related costs(3) 110   190   1,836   2,136   0.04 Stock-based compensation(4) 944   —   2,498   3,442   0.06 ESPP correction income(6) —   —   (5,933)  (5,933)  (0.10)Income tax effect related to adjustments —   —   (10,222)  (10,222)  (0.17)Adjusted net income (loss)$129,523  $19,771  $(77,091) $72,203  $1.21 Interest expense —   —   23,986   23,986   Income tax expense —   —   20,404   20,404   Tax effect related to the adjustments above —   —   10,222   10,222   Depreciation(7) 3,159   491   1,387   5,037   Adjusted EBITDA$132,682  $20,262  $(21,092) $131,852   As a % of Revenue 22.2%   19.4%  N/A  18.8%                        Three Months Ended September 30, 2025 Financial
Services Benefits and Insurance Services Corporate &
Other Consolidated EPSNet income (loss)$96,410  $19,347  $(85,611) $30,146  $0.48 Adjustments:         Amortization of acquired intangible assets 17,090   1,658   —   18,748   0.30 Integration costs related to acquisitions(2) 10,340   228   18,071   28,639   0.46 Legal settlement and related costs(5) —   —   (293)  (293)  — Stock-based compensation(4) —   —   3,977   3,977   0.06 Gain on sale of operations, net (1,124)  —   —   (1,124)  (0.02)Income tax effect related to adjustments —   —   (12,635)  (12,635)  (0.22)Adjusted net income (loss)$122,716  $21,233  $(76,491) $67,458  $1.06 Interest expense —   —   27,960   27,960   Income tax expense —   —   10,260   10,260   Tax effect related to the adjustments above —   —   12,635   12,635   Depreciation(7) 4,015   525   1,152   5,692   Adjusted EBITDA$126,731  $21,758  $(24,484) $124,005   As a % of Revenue 21.5%   21.0%  N/A  17.9%    (1) This table reconciles Adjusted net income (loss), Adjusted diluted EPS, Adjusted EBITDA, and Adjusted EBITDA margin to the most directly comparable GAAP financial measures. Adjusted net income (loss), Adjusted diluted EPS, Adjusted EBITDA, and Adjusted EBITDA margin exclude the impact of the Marcum Transaction and other significant non-operating related gains and losses that management does not consider on-going in nature. Please refer to the 'Non-GAAP Financial Measures' section for further management discussion.   (2) These costs include, but are not limited to, certain consulting, technology, personnel, as well as other integration costs related to the Marcum Transaction.   (3) These costs included unusual and one-time legal and professional services costs associated with the Company’s pending transaction.   (4) Stock-based compensation expense reported for the three months ended September 30, 2026 and 2025 excluded $3.1 million and $3.4 million, respectively, of stock-based compensation expense reported as “Integration costs related to acquisitions” above.   (5) During the three months ended September 30, 2025, the Company recorded a $0.3 million adjustment to the accrued legal costs associated with the $12.5 million legal settlement when payments were made.   (6) Represents amounts relating to the impact of the previously disclosed ESPP correction.   (7) Depreciation expense reported for the three months ended September 30, 2026 and 2025 excluded $16 thousand and $0.2 million, respectively, of depreciation expense reported as “Integration costs related to acquisitions” above. The accelerated depreciation was associated with certain technology assets from the Marcum Transaction. CBIZ, INC.
GAAP RECONCILIATION
Net Income (Loss) and Diluted Earnings Per Share (“EPS”) to Adjusted Net Income (Loss), Adjusted Diluted EPS
and Adjusted EBITDA(1)
(Unaudited. Amounts in thousands, except per share data)
  Nine months ended September 30, 2026 Financial
Services Benefits and Insurance
Services Corporate &
Other Consolidated EPSNet income (loss)$399,407  $57,533  $(238,313) $218,627  $3.62 Adjustments:         Integration costs related to acquisitions(2) 21,395   24   34,572   55,991   0.93 Amortization of acquired intangible assets 51,396   3,844   —   55,240   0.92 Gain from acquisition related adjustment, net(3) —   —   (57,955)  (57,955)  (0.96)Corporate projects related costs(4) 110   190   5,193   5,493   0.09 Legal settlement and related costs(5)     7,200   7,200   0.12 Stock-based compensation(6) 2,605   —   10,152   12,757   0.21 ESPP correction expense(7) —   —   7,404   7,404   0.12 Income tax effect related to adjustments —   —   (24,564)  (24,564)  (0.41)Adjusted net income (loss)$474,913  $61,591  $(256,311) $280,193  $4.64 Interest expense —   —   72,237   72,237   Income tax expense —   —   87,228   87,228   Tax effect related to the adjustments above —   —   24,564   24,564   Depreciation(8) 9,424   1,475   4,224   15,123   Adjusted EBITDA$484,337  $63,066  $(68,058) $479,345   As a % of Revenue 25.2%   20.0%  N/A  21.5%              Nine months ended September 30, 2025 Financial
Services Benefits and
Insurance
Services Corporate &
Other Consolidated EPSNet income (loss)$387,477  $65,260  $(257,876) $194,861  $3.06 Adjustments:         Integration costs related to acquisitions(2) 17,840   609   45,045   63,494   1.00 Amortization of acquired intangible assets 51,071   5,133   —   56,204   0.88 Legal settlement and related costs(5) —   —   (11,356)  (11,356)  (0.18)Stock-based compensation(6) —   —   9,530   9,530   0.15 Gain on sale of operations, net (1,124)  —   —   (1,124)  (0.02)Income tax effect related to adjustments —   —   (32,830)  (32,830)  (0.51)Adjusted net income (loss)$455,264  $71,002  $(247,487) $278,779  $4.38 Interest expense —   —   80,983   80,983   Income tax expense —   —   76,234   76,234   Tax effect related to the adjustments above —   —   32,830   32,830   Depreciation(8) 11,364   1,608   3,329   16,301   Adjusted EBITDA$466,628  $72,610  $(54,111) $485,127   As a % of Revenue 24.6%   22.8%  N/A  21.9%    (1) This table reconciles Adjusted net income (loss), Adjusted diluted EPS, Adjusted EBITDA, and Adjusted EBITDA margin to the most directly comparable GAAP financial measures. Adjusted net income (loss), Adjusted diluted EPS, Adjusted EBITDA, and Adjusted EBITDA margin exclude the impact of the Marcum Transaction and other significant non-operating related gains and losses that management does not consider on-going in nature. Please refer to the 'Non-GAAP Financial Measures' section for further management discussion.   (2) These costs include, but are not limited to, certain consulting, technology, personnel, as well as other integration costs related to the Marcum Transaction.   (3) Gain related to the finalization of working capital and related purchase price adjustments associated with the Marcum Transaction.   (4) These costs included unusual and one-time legal and professional services costs associated with the Company’s pending transaction.   (5) During the nine months ended September 30, 2026, the Company recorded an estimated loss of $7.2 million associated with a legal matter which the Company plans to settle. During the nine months ended September 30, 2025, the Company recorded a gain of $12.5 million related to a legal settlement payment from a small group of former employees. The settlement loss and gain were recorded in “other income (expense), net” on the consolidated statement of comprehensive income. The costs associated with this litigation were $1.1 million for the nine months ended September 30, 2025 and were recorded in “Corporate general and administrative expenses” on the consolidated statement of comprehensive income.   (6) Stock-based compensation expense reported for the nine months ended September 30, 2026 and 2025 excluded $9.4 million and $6.7 million, respectively, of stock-based compensation expense reported as “Integration costs related to acquisitions” above.   (7) Represents amounts relating to the impact of the previously disclosed ESPP correction.   (8) Depreciation expense reported for the nine months ended September 30, 2026 and 2025 excluded $48 thousand and $1.8 million, respectively, of depreciation expense reported as “Integration costs related to acquisitions” above. The accelerated depreciation was associated with certain technology assets from the Marcum Transaction.

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task.

By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.

However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.

CBIZ (CBZ - Free Report) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank.

Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).

While there are numerous reasons why the stock of this provider of outsourced business services is a great growth pick right now, we have highlighted three of the most important factors below:

Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for CBIZ is 19.2%, investors should actually focus on the projected growth. The company's EPS is expected to grow 15.4% this year, crushing the industry average, which calls for EPS growth of 11.6%.

Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.

Right now, year-over-year cash flow growth for CBIZ is 80.5%, which is higher than many of its peers. In fact, the rate compares to the industry average of 6.1%.

While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 26.8% over the past 3-5 years versus the industry average of 7.3%.

Promising Earnings Estimate RevisionsBeyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

The current-year earnings estimates for CBIZ have been revising upward. The Zacks Consensus Estimate for the current year has surged 1.7% over the past month.

Bottom LineWhile the overall earnings estimate revisions have made CBIZ a Zacks Rank #2 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination indicates that CBIZ is a potential outperformer and a solid choice for growth investors.

Bank of America Corp DE bought a new position in CBIZ, Inc. (NYSE:CBZ – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 224,255 shares of the business services provider’s stock, valued at approximately $7,194,000. Bank of America Corp DE owned about 0.41% of CBIZ as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quantinno Capital Management LP boosted its holdings in shares of CBIZ by 543.8% in the first quarter. Quantinno Capital Management LP now owns 175,005 shares of the business services provider’s stock worth $4,699,000 after buying an additional 147,820 shares during the period. Bank of New York Mellon Corp increased its position in shares of CBIZ by 17.8% in the first quarter. Bank of New York Mellon Corp now owns 166,787 shares of the business services provider’s stock worth $4,478,000 after acquiring an additional 25,214 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of CBIZ during the second quarter valued at approximately $1,142,000. Edgestream Partners L.P. acquired a new stake in shares of CBIZ during the first quarter valued at approximately $3,611,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of CBIZ in the 2nd quarter valued at approximately $740,000. 87.44% of the stock is owned by institutional investors and hedge funds.

CBIZ Trading Up 0.0% Shares of NYSE:CBZ opened at $54.70 on Monday. The firm has a fifty day moving average of $52.98 and a two-hundred day moving average of $38.87. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. CBIZ, Inc. has a 12-month low of $24.29 and a 12-month high of $56.93. The firm has a market capitalization of $2.97 billion, a P/E ratio of 25.56, a price-to-earnings-growth ratio of 1.31 and a beta of 0.92.

CBIZ (NYSE:CBZ – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.19. CBIZ had a net margin of 4.73% and a return on equity of 12.33%. The business had revenue of $682.21 million for the quarter, compared to the consensus estimate of $697.96 million. During the same period in the prior year, the business posted $0.95 earnings per share. CBIZ’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities analysts expect that CBIZ, Inc. will post 4.17 EPS for the current fiscal year. Analyst Upgrades and Downgrades A number of research firms recently commented on CBZ. US Capital Advisors set a $55.00 price objective on shares of CBIZ in a research note on Thursday, July 30th. Weiss Ratings upgraded CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. William Blair cut CBIZ from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Barrington Research downgraded CBIZ from an “outperform” rating to a “hold” rating in a report on Wednesday, September 16th. Finally, CJS Securities lowered CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 price target on the stock. in a research report on Thursday, July 30th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $44.50.

View Our Latest Stock Report on CBZ

CBIZ Profile (Free Report)

CBIZ, Inc (NYSE: CBZ) is a diversified professional services company that provides accounting, tax, advisory, insurance brokerage, and employee benefits services to businesses, nonprofit organizations, government entities, and individuals. The company serves clients across a range of industries, including healthcare, construction, manufacturing, real estate, financial services, and professional services.

Its accounting and advisory offerings include audit and attest services, tax planning and compliance, financial reporting, valuation, transaction advisory, forensic accounting, and business consulting.

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Shares of CBIZ, Inc. (NYSE:CBZ – Get Free Report) have earned an average rating of “Hold” from the seven brokerages that are presently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $44.50.

CBZ has been the topic of several recent research reports. CJS Securities downgraded CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 target price on the stock. in a research report on Thursday, July 30th. US Capital Advisors set a $55.00 price target on CBIZ in a research report on Thursday, July 30th. Barrington Research lowered CBIZ from an “outperform” rating to a “hold” rating in a research note on Wednesday, September 16th. Finally, Weiss Ratings upgraded CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th.

View Our Latest Research Report on CBZ

Institutional Trading of CBIZ Hedge funds and other institutional investors have recently bought and sold shares of the company. 22C Capital LLC bought a new stake in CBIZ during the fourth quarter valued at $161,554,000. BlackRock Inc. purchased a new stake in shares of CBIZ in the 2nd quarter valued at about $159,495,000. P2 Capital Partners LLC boosted its position in shares of CBIZ by 3.3% during the 4th quarter. P2 Capital Partners LLC now owns 1,773,391 shares of the business services provider’s stock valued at $89,468,000 after acquiring an additional 57,066 shares during the last quarter. GW&K Investment Management LLC boosted its position in shares of CBIZ by 2.9% during the 4th quarter. GW&K Investment Management LLC now owns 779,033 shares of the business services provider’s stock valued at $39,302,000 after acquiring an additional 21,603 shares during the last quarter. Finally, Royce & Associates LP grew its holdings in shares of CBIZ by 389.3% during the fourth quarter. Royce & Associates LP now owns 659,140 shares of the business services provider’s stock worth $33,254,000 after purchasing an additional 524,438 shares in the last quarter. Institutional investors own 87.44% of the company’s stock. CBIZ Stock Up 0.0% CBZ stock opened at $54.65 on Monday. The stock has a fifty day moving average of $51.66 and a 200-day moving average of $37.97. CBIZ has a fifty-two week low of $24.29 and a fifty-two week high of $56.93. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 1.31 and a beta of 0.92. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.47.

CBIZ (NYSE:CBZ – Get Free Report) last issued its earnings results on Wednesday, July 29th. The business services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.19. The firm had revenue of $682.21 million during the quarter, compared to analyst estimates of $697.96 million. CBIZ had a net margin of 4.73% and a return on equity of 12.33%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the business earned $0.95 earnings per share. As a group, equities research analysts predict that CBIZ will post 4.17 earnings per share for the current year.

CBIZ Company Profile (Get Free Report)

CBIZ, Inc (NYSE: CBZ) is a diversified professional services company that provides accounting, tax, advisory, insurance brokerage, and employee benefits services to businesses, nonprofit organizations, government entities, and individuals. The company serves clients across a range of industries, including healthcare, construction, manufacturing, real estate, financial services, and professional services.

Its accounting and advisory offerings include audit and attest services, tax planning and compliance, financial reporting, valuation, transaction advisory, forensic accounting, and business consulting.

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Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock.

By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.

However, the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects, makes it pretty easy to find cutting-edge growth stocks.

Our proprietary system currently recommends CBIZ (CBZ - Free Report) as one such stock. This company not only has a favorable Growth Score, but also carries a top Zacks Rank.

Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).

While there are numerous reasons why the stock of this provider of outsourced business services is a great growth pick right now, we have highlighted three of the most important factors below:

Earnings GrowthArguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for CBIZ is 19.2%, investors should actually focus on the projected growth. The company's EPS is expected to grow 13.5% this year, crushing the industry average, which calls for EPS growth of 11.5%.

Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.

Right now, year-over-year cash flow growth for CBIZ is 80.5%, which is higher than many of its peers. In fact, the rate compares to the industry average of 6.1%.

While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 26.8% over the past 3-5 years versus the industry average of 7.3%.

Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

There have been upward revisions in current-year earnings estimates for CBIZ. The Zacks Consensus Estimate for the current year has surged 1.7% over the past month.

Bottom LineCBIZ has not only earned a Growth Score of B based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination positions CBIZ well for outperformance, so growth investors may want to bet on it.

Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Is CBIZ (CBZ - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

CBIZ is one of 248 companies in the Business Services group. The Business Services group currently sits at #12 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. CBIZ is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for CBZ's full-year earnings has moved 0.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, CBZ has returned 7.9% so far this year. Meanwhile, stocks in the Business Services group have lost about 8.2% on average. This means that CBIZ is performing better than its sector in terms of year-to-date returns.

FactSet Research (FDS - Free Report) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 5.3%.

Over the past three months, FactSet Research's consensus EPS estimate for the current year has increased 1.3%. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, CBIZ belongs to the Consulting Services industry, a group that includes 13 individual companies and currently sits at #51 in the Zacks Industry Rank.

In contrast, FactSet Research falls under the Business - Information Services industry. Currently, this industry has 7 stocks and is ranked #78.

Investors interested in the Business Services sector may want to keep a close eye on CBIZ and FactSet Research as they attempt to continue their solid performance.

For Immediate ReleaseChicago, IL – August 25, 2026 – Today, Zacks Equity Gartner, Inc. (IT - Free Report) , CBIZ, Inc. (CBZ - Free Report) and Huron Consulting Group Inc. (HURN - Free Report)

Industry: Consulting Services

Link: https://www.zacks.com/commentary/2979232/3-stocks-to-consider-from-the-prospering-consulting-services-industry

Economic strength, encouraging service activities and the success of the work-from-home trend enable Zacks Consulting Services industry players to meet demand.

Driven by these positives, investors interested in the industry would do well to consider including stocks like Gartner, Inc., CBIZ, Inc. and Huron Consulting Group Inc. in their portfolios.

About the IndustryCompanies grouped under the Consulting Services category offer professional advice in management, IT, human resources, environmental regulations, logistics, marketing and real estate, serving multiple end markets. The space includes prominent names like Accenture and Gartner. 

The industry focuses on channeling money and efforts toward more effective operational components, such as technology, digital transformation and data-driven decision-making. To position themselves suitably in the post-pandemic era and better utilize the opportunities that an economic recovery will bring, service providers are increasing their efforts to formulate and reassess strategic initiatives, identify sources of demand and target end markets.

What's Shaping the Future of the Consulting Services Industry?Exponential Growth: This multi-billion-dollar industry has entered a trajectory of exponential expansion since the 2008 financial crisis, fueled by digital transformation and innovation-driven efficiencies. The trend has sustained steady revenues, profits and cash-flow growth, enabling most industry players to distribute stable dividends.

Economic Recovery: The sector is a major beneficiary of the broader economy and increasingly digital-driven service activities. According to the second estimate released by the Bureau of Economic Analysis, the economy remained resilient, with GDP growing 1.5% in the second quarter of 2026 compared with a 2.1% rise in the first quarter. Non-manufacturing activities remained strong, as reflected in the July Services PMI, which stayed in expansion territory for the 25th consecutive month.

Strong Demand Environment: The consulting services industry remains among the least disrupted by recent global uncertainties. Even in volatile conditions, organizations seek extensive guidance on safeguarding their workforce while strengthening ties with consumers and shareholders. The industry was an early pioneer of remote collaboration, now embedded in the new normal. Its work model allows players to operate efficiently, increasingly powered by AI-driven insights, digital platforms, and agile delivery frameworks.

Zacks Industry Rank Indicates Bright ProspectsThe Consulting Services industry, which is housed within the broader Business Services sector, currently carries a Zacks Industry Rank of #42. This rank places it in the top 17% of 247 Zacks industries.

The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates solid near-term growth prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.

Before we present a few stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock market performance and current valuation.

Industry's Price PerformanceThe Consulting Services industry has underperformed the S&P 500 composite and the broader sector in the past year. The industry has declined 24.2% against the S&P 500 composite’s growth of 21.3% and the broader sector’s 16.4% decline.

Industry's Current ValuationOn the basis of the forward 12-month price-to-earnings (P/E) ratio, which is a commonly used multiple for valuing consulting services companies, we see that the industry is currently trading at 15.16X, below the S&P 500’s 20.37X and the sector’s 18.23X.

Over the past five years, the industry has traded as high as 31.53X and as low as 12.41X, with a median of 26.00X.

3 Consulting Services Stocks to ConsiderGartner: The company’s differentiated information technology research and advisory services expertise is the primary catalyst of its overall growth. The company’s broad portfolio and low customer concentration support recurring demand across business and technology functions, strengthening top-line growth prospects.

Gartner delivers strong value to its clients through its subscription-oriented research platform, which utilizes the depth and breadth of intellectual capital to create and distribute research content. The broad range of services such as Insights, Consulting and Conferences with specialized industry expertise and global reach differentiate Gartner from its competitors. This diversification enables the company to mitigate the impacts of economic cycles, crises, events, and changes in a particular practice, industry, or country.

The Zacks Consensus Estimate for the company’s 2026 EPS has increased 5.6% in the past 60 days to $14.42. IT currently sports a Zacks Rank #1 (Strong Buy). The stock has gained 32.6% in the past month.  You can see the complete list of today’s Zacks #1 Rank stocks here.

Huron Consulting: Technological innovation and record demand across healthcare, higher education and commercial sectors continue to raise both complexity and safety expectations, and Huron Consulting is well-positioned to capitalize on these shifts. With a strong foundation of talent, deep multidisciplinary expertise, transformative innovations and acquisitions, it delivered growth in the consulting industry.

The company continues to innovate and use artificial intelligence to improve services and gain broader access to different markets. Recently, it acquired RelateCare, a leading provider of AI-enabled clinical and patient access solutions, to strengthen its patient access and care coordination capabilities. Growing health concerns further support the company’s ability to achieve sustainable growth and create long-term shareholder value.

The Zacks Consensus Estimate for the company’s 2026 EPS has increased by nearly 1.1% in the past 60 days to $9.18. The stock has surged 40.4% in the past month. EXPO currently sports a Zacks Rank #1.

CBIZ: With its service breadth and specialized expertise, this provider of financial, insurance and advisory services has established itself as one of the largest professional services providers for middle-market businesses, solidifying its competitive edge and long-term growth potential.

CBIZ is entering a strong growth phase, fueled by strategic expansion and a reinforced market position. The integration of Marcum has unlocked new synergies, enhanced service offerings, and strengthened relationships with clients and stakeholders. The Marcum transaction significantly expands CBIZ’s capabilities and client base, positioning the firm for broader market reach and cross-selling opportunities.

The Zacks Consensus Estimate for the company’s 2026 EPS has increased 0.7% in the past 60 days to $4.10. The stock has gained 23.2% in the past month. CBIZ currently carries a Zacks Rank #2 (Buy).

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance  for information about the performance numbers displayed in this press release.

Economic strength, encouraging service activities and the success of the work-from-home trend enable Zacks Consulting Services industry players to meet demand.

Driven by these positives, investors interested in the industry would do well to consider including stocks like Gartner, Inc. (IT - Free Report) , CBIZ, Inc. (CBZ - Free Report) and Huron Consulting Group Inc. (HURN - Free Report) in their portfolios.

About the Industry Companies grouped under the Consulting Services category offer professional advice in management, IT, human resources, environmental regulations, logistics, marketing and real estate, serving multiple end markets. The space includes prominent names like Accenture and Gartner. The industry focuses on channeling money and efforts toward more effective operational components, such as technology, digital transformation and data-driven decision-making. To position themselves suitably in the post-pandemic era and better utilize the opportunities that an economic recovery will bring, service providers are increasing their efforts to formulate and reassess strategic initiatives, identify sources of demand and target end markets.

What's Shaping the Future of the Consulting Services Industry? Exponential Growth: This multi-billion-dollar industry has entered a trajectory of exponential expansion since the 2008 financial crisis, fueled by digital transformation and innovation-driven efficiencies. The trend has sustained steady revenues, profits and cash-flow growth, enabling most industry players to distribute stable dividends.

Economic Recovery: The sector is a major beneficiary of the broader economy and increasingly digital-driven service activities. According to the second estimate released by the Bureau of Economic Analysis, the economy remained resilient, with GDP growing 1.5% in the second quarter of 2026 compared with a 2.1% rise in the first quarter. Non-manufacturing activities remained strong, as reflected in the July Services PMI, which stayed in expansion territory for the 25th consecutive month.

Strong Demand Environment: The consulting services industry remains among the least disrupted by recent global uncertainties. Even in volatile conditions, organizations seek extensive guidance on safeguarding their workforce while strengthening ties with consumers and shareholders. The industry was an early pioneer of remote collaboration, now embedded in the new normal. Its work model allows players to operate efficiently, increasingly powered by AI-driven insights, digital platforms, and agile delivery frameworks.

Zacks Industry Rank Indicates Bright Prospects The Consulting Services industry, which is housed within the broader Business Services sector, currently carries a Zacks Industry Rank of #42. This rank places it in the top 17% of 247 Zacks industries.

The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates solid near-term growth prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.

Before we present a few stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock market performance and current valuation.

Industry's Price Performance The Consulting Services industry has underperformed the S&P 500 composite and the broader sector in the past year. The industry has declined 24.2% against the S&P 500 composite’s growth of 21.3% and the broader sector’s 16.4% decline.

Industry's Current Valuation On the basis of the forward 12-month price-to-earnings (P/E) ratio, which is a commonly used multiple for valuing consulting services companies, we see that the industry is currently trading at 15.16X, below the S&P 500’s 20.37X and the sector’s 18.23X.

Over the past five years, the industry has traded as high as 31.53X and as low as 12.41X, with a median of 26.00X, as the charts below show.

Price-to-Forward 12-Month P/E Ratio

Price-to-Forward 12-Month P/E Ratio

3 Consulting Services Stocks to Consider Gartner: The company’s differentiated information technology research and advisory services expertise is the primary catalyst of its overall growth. The company’s broad portfolio and low customer concentration support recurring demand across business and technology functions, strengthening top-line growth prospects.

Gartner delivers strong value to its clients through its subscription-oriented research platform, which utilizes the depth and breadth of intellectual capital to create and distribute research content. The broad range of services such as Insights, Consulting and Conferences with specialized industry expertise and global reach differentiate Gartner from its competitors. This diversification enables the company to mitigate the impacts of economic cycles, crises, events, and changes in a particular practice, industry, or country.

The Zacks Consensus Estimate for the company’s 2026 EPS has increased 5.6% in the past 60 days to $14.42. IT currently sports a Zacks Rank #1 (Strong Buy). The stock has gained 32.6% in the past month.  You can see the complete list of today’s Zacks #1 Rank stocks here.

Price & Consensus: IT

Huron Consulting: Technological innovation and record demand across healthcare, higher education and commercial sectors continue to raise both complexity and safety expectations, and Huron Consulting is well-positioned to capitalize on these shifts. With a strong foundation of talent, deep multidisciplinary expertise, transformative innovations and acquisitions, it delivered growth in the consulting industry.

The company continues to innovate and use artificial intelligence to improve services and gain broader access to different markets. Recently, it acquired RelateCare, a leading provider of AI-enabled clinical and patient access solutions, to strengthen its patient access and care coordination capabilities. Growing health concerns further support the company’s ability to achieve sustainable growth and create long-term shareholder value.

The Zacks Consensus Estimate for the company’s 2026 EPS has increased by nearly 1.1% in the past 60 days to $9.18. The stock has surged 40.4% in the past month. EXPO currently sports a Zacks Rank #1.

Price & Consensus: HURN

CBIZ: With its service breadth and specialized expertise, this provider of financial, insurance and advisory services has established itself as one of the largest professional services providers for middle-market businesses, solidifying its competitive edge and long-term growth potential.

CBIZ is entering a strong growth phase, fueled by strategic expansion and a reinforced market position. The integration of Marcum has unlocked new synergies, enhanced service offerings, and strengthened relationships with clients and stakeholders. The Marcum transaction significantly expands CBIZ’s capabilities and client base, positioning the firm for broader market reach and cross-selling opportunities.

The Zacks Consensus Estimate for the company’s 2026 EPS has increased 0.7% in the past 60 days to $4.10. The stock has gained 23.2% in the past month. CBIZ currently carries a Zacks Rank #2 (Buy).

Price & Consensus: CBIZ

Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a great growth stock is not easy at all.

In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.

However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.

Our proprietary system currently recommends CBIZ (CBZ - Free Report) as one such stock. This company not only has a favorable Growth Score, but also carries a top Zacks Rank.

Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).

While there are numerous reasons why the stock of this provider of outsourced business services is a great growth pick right now, we have highlighted three of the most important factors below:

Earnings GrowthArguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for CBIZ is 19.2%, investors should actually focus on the projected growth. The company's EPS is expected to grow 13.5% this year, crushing the industry average, which calls for EPS growth of 10.5%.

Cash Flow GrowthWhile cash is the lifeblood of any business, higher-than-average cash flow growth is more important and beneficial for growth-oriented companies than for mature companies. That's because, growth in cash flow enables these companies to expand their businesses without depending on expensive outside funds.

Right now, year-over-year cash flow growth for CBIZ is 80.5%, which is higher than many of its peers. In fact, the rate compares to the industry average of 6.1%.

While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 26.8% over the past 3-5 years versus the industry average of 7.3%.

Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

There have been upward revisions in current-year earnings estimates for CBIZ. The Zacks Consensus Estimate for the current year has surged 0.7% over the past month.

Bottom LineWhile the overall earnings estimate revisions have made CBIZ a Zacks Rank #2 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination indicates that CBIZ is a potential outperformer and a solid choice for growth investors.

The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. CBIZ (CBZ - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.

CBIZ is one of 246 companies in the Business Services group. The Business Services group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. CBIZ is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for CBZ's full-year earnings has moved 0.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, CBZ has moved about 8% on a year-to-date basis. At the same time, Business Services stocks have lost an average of 7.7%. This means that CBIZ is performing better than its sector in terms of year-to-date returns.

Another Business Services stock, which has outperformed the sector so far this year, is Esco Technologies (ESE - Free Report) . The stock has returned 56.5% year-to-date.

The consensus estimate for Esco Technologies' current year EPS has increased 1.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, CBIZ belongs to the Consulting Services industry, a group that includes 13 individual companies and currently sits at #43 in the Zacks Industry Rank. On average, this group has lost an average of 17.6% so far this year, meaning that CBZ is performing better in terms of year-to-date returns.

Esco Technologies, however, belongs to the Technology Services industry. Currently, this 121-stock industry is ranked #154. The industry has moved -7.6% so far this year.

Investors with an interest in Business Services stocks should continue to track CBIZ and Esco Technologies. These stocks will be looking to continue their solid performance.

Posted by Defense World Staff on Aug 13th, 2026

California State Teachers Retirement System increased its stake in shares of CBIZ, Inc. (NYSE:CBZ – Free Report) by 36.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,110 shares of the business services provider’s stock after buying an additional 16,785 shares during the quarter. California State Teachers Retirement System owned 0.12% of CBIZ worth $1,695,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Durable Capital Partners LP acquired a new position in CBIZ during the third quarter worth $207,872,000. 22C Capital LLC acquired a new stake in shares of CBIZ in the 4th quarter valued at $161,554,000. Bank of Montreal Can acquired a new stake in shares of CBIZ in the 4th quarter valued at $113,596,000. Royce & Associates LP grew its holdings in shares of CBIZ by 389.3% in the 4th quarter. Royce & Associates LP now owns 659,140 shares of the business services provider’s stock worth $33,254,000 after purchasing an additional 524,438 shares during the last quarter. Finally, Citadel Advisors LLC grew its holdings in shares of CBIZ by 253.6% in the 3rd quarter. Citadel Advisors LLC now owns 623,060 shares of the business services provider’s stock worth $32,997,000 after purchasing an additional 446,876 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Ratings Changes A number of equities research analysts recently issued reports on CBZ shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $42.00 target price on shares of CBIZ in a research report on Thursday, April 30th. CJS Securities cut shares of CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 price objective on the stock. in a research note on Thursday, July 30th. US Capital Advisors set a $55.00 price objective on shares of CBIZ in a research note on Thursday, July 30th. Stephens set a $37.00 price objective on shares of CBIZ in a report on Friday, May 1st. Finally, Barrington Research assumed coverage on shares of CBIZ in a research note on Wednesday, June 24th. They issued an “outperform” rating and a $45.00 target price for the company. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $44.50.

Read Our Latest Analysis on CBZ

CBIZ Price Performance Shares of CBZ stock opened at $54.60 on Thursday. The stock’s fifty day moving average is $40.26 and its 200-day moving average is $33.90. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market capitalization of $2.96 billion, a PE ratio of 25.51, a PEG ratio of 1.15 and a beta of 0.93. CBIZ, Inc. has a 52 week low of $24.29 and a 52 week high of $67.24.

CBIZ (NYSE:CBZ – Get Free Report) last announced its earnings results on Wednesday, July 29th. The business services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.19. CBIZ had a return on equity of 12.33% and a net margin of 4.73%.The company had revenue of $682.21 million during the quarter, compared to analyst estimates of $697.96 million. During the same period last year, the company posted $0.95 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts expect that CBIZ, Inc. will post 4.1 EPS for the current fiscal year.

CBIZ Profile (Free Report)

CBIZ, Inc (NYSE: CBZ), founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.

Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.

Recommended Stories Five stocks we like better than CBIZ GE Vernova’s AI Power Boom Faces a Profit Test Cardinal Health Earnings: Can Perfection Get Priced In Twice? Nebius’ Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand Legacy Jet Builders Stall While Embraer Accelerates to New Highs Want to see what other hedge funds are holding CBZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBIZ, Inc. (NYSE:CBZ – Free Report).

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Also from this source

Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a growth stock that can live up to its true potential can be a tough task.

By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.

However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.

CBIZ (CBZ - Free Report) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank.

Research shows that stocks carrying the best growth features consistently beat the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.

Here are three of the most important factors that make the stock of this provider of outsourced business services a great growth pick right now.

Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for CBIZ is 19%, investors should actually focus on the projected growth. The company's EPS is expected to grow 13.5% this year, crushing the industry average, which calls for EPS growth of 6.8%.

Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.

Right now, year-over-year cash flow growth for CBIZ is 80.5%, which is higher than many of its peers. In fact, the rate compares to the industry average of 6.1%.

While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 26.8% over the past 3-5 years versus the industry average of 7.3%.

Promising Earnings Estimate RevisionsBeyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

There have been upward revisions in current-year earnings estimates for CBIZ. The Zacks Consensus Estimate for the current year has surged 0.7% over the past month.

Bottom LineCBIZ has not only earned a Growth Score of B based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination indicates that CBIZ is a potential outperformer and a solid choice for growth investors.

For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Is CBIZ (CBZ - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.

CBIZ is one of 246 individual stocks in the Business Services sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. CBIZ is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for CBZ's full-year earnings has moved 0.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that CBZ has returned about 9.5% since the start of the calendar year. At the same time, Business Services stocks have lost an average of 7.6%. As we can see, CBIZ is performing better than its sector in the calendar year.

One other Business Services stock that has outperformed the sector so far this year is Kforce (KFRC - Free Report) . The stock is up 83.7% year-to-date.

For Kforce, the consensus EPS estimate for the current year has increased 2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, CBIZ is a member of the Consulting Services industry, which includes 13 individual companies and currently sits at #90 in the Zacks Industry Rank. On average, stocks in this group have lost 21.7% this year, meaning that CBZ is performing better in terms of year-to-date returns.

On the other hand, Kforce belongs to the Staffing Firms industry. This 12-stock industry is currently ranked #90. The industry has moved +45.2% year to date.

CBIZ and Kforce could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks.

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NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of CBIZ, Inc. (NYSE: CBIZ) to Grant Thornton Advisors LLC. Under the terms of the proposed transaction, shareholders of CBIZ will receive $55.00 in cash for each share of CBIZ that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) toll free at any time at (833) 538-3612, or visit https://www.ksfcounsel.com/cases/nyse-cbiz/ to learn more.

To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.

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Insiders may stand to receive substantial financial benefits not available to ordinary shareholders.

The proposed transactions may contain terms that could limit superior competing offers.

Shareholders are encouraged to contact the firm to discuss their rights and options at no cost or obligation. We would handle any matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.

, /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to:

CBIZ, Inc. (NYSE: CBZ)'s sale to Grant Thornton Advisors LLC for $55.00 in cash per share. If you are a CBIZ shareholder, click here to learn more about your legal rights and options.

Safety Insurance Group Inc. (NASDAQ: SAFT)'s sale to an affiliate of Mapfre S.A. for $105.00 per share in cash. If you are a Safety shareholder, click here to learn more about your rights and options.

Neuphoria Therapeutics Inc. (NASDAQ: NEUP)'s merger with Scancell Holdings plc. Upon closing of the proposed transaction, Neuphoria shareholders will own 14.5% of the combined company. If you are a Neuphoria shareholder, click here to learn more about your legal rights and options.

On behalf of shareholders, Halper Sadeh LLC may seek increased consideration, additional disclosures and information, or other relief and benefits.

Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Halper Sadeh LLC

Daniel Sadeh, Esq.

Zachary Halper, Esq.

One World Trade Center

85th Floor

New York, NY 10007

(212) 763-0060

[email protected]

[email protected] 

https://www.halpersadeh.com

SOURCE Halper Sadeh LLP

, /PRNewswire/ -- Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2025 ISS Securities Class Action Services Report. The firm is headquartered at the Empire State Building in New York City and is investigating CBIZ, Inc. (NYSE: CBZ) related to its sale to Grant Thornton Advisors LLC. Under the terms of the proposed transaction, CBIZ shareholders are expected to receive $55.00 per share in cash. Is it a fair deal?

Click here for more info https://monteverdelaw.com/case/cbiz-inc-2/. It is free and there is no cost or obligation to you.

NOT ALL LAW FIRMS ARE EQUAL. Before you hire a law firm, you should talk to a lawyer and ask:

Do you file class actions and go to Court? When was the last time you recovered money for shareholders? What cases did you recover money in and how much? About Monteverde & Associates PC

Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. 

No one is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at [email protected] or by telephone at (212) 971-1341.

Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
[email protected]
Tel: (212) 971-1341

Attorney Advertising. (C) 2026 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

SOURCE Monteverde & Associates PC

Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Ademi LLP is investigating CBIZ (NYSE: CBZ) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Grant Thornton Advisors.

Click here  to learn how to join our investigation and obtain additional information or contact us at [email protected] or toll-free: 866-264-3995.  There is no cost or obligation to you.

CBIZ shareholders will receive $55.00 per share in an all-cash transaction valued at $5 billion. CBIZ insiders will receive substantial benefits as part of change of control arrangements.

The transaction agreement unreasonably limits competing transactions for CBIZ by imposing a significant penalty if CBIZ accepts a competing bid. We are investigating the conduct of the CBIZ board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.

We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Ademi LLP                                                     
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001

SOURCE Ademi LLP

Also from this source

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating the sale of CBIZ, Inc. (NYSE: CBZ) to Grant Thornton Advisors LLC for $55.00 in cash per share.Halper Sadeh encourages CBIZ shareholders to click here to learn more about their rights and options or contact Daniel Sadeh or Zachary Halper free of charge at (212) 763-0060 or [email protected] or [email protected] investigation concerns whether CBIZ and its board of directors violated the federa.

Largest transaction of its kind in more than 25 years; creates the fifth largest professional services, tax and advisory provider in the U.S.

New Mountain Capital makes new equity investment to enable the transaction

Enhances AI-enabled capabilities, multinational reach, industry specialization and service breadth — while creating strong cultural and strategic fit with a shared commitment to quality and client experience

CBIZ Benefits and Insurance Services segment to be set up for growth as independent company backed by New Mountain Capital

CBIZ shareholders to receive $55.00 per share in cash

CHICAGO and CLEVELAND and NEW YORK, July 29, 2026 (GLOBE NEWSWIRE) -- Grant Thornton Advisors LLC (together with its affiliates, “Grant Thornton Advisors”), New Mountain Capital and CBIZ, Inc. (NYSE: CBZ) (“CBIZ”) today announced that Grant Thornton Advisors has entered into a definitive agreement pursuant to which it will acquire CBIZ in an all-cash transaction with an enterprise value of $5 billion.

Under the terms of the agreement, CBIZ shareholders will receive $55.00 in cash per share. This represents a premium of approximately 54% to CBIZ’s 30-day volume-weighted average share price.

New Mountain Capital — which led a May 2024 investment in Grant Thornton Advisors and fueled the firm’s growth strategy — will be investing incremental equity to support the transaction.

Creating the fifth largest U.S. provider

Upon closing, Grant Thornton in the U.S. is expected to become the fifth-largest provider of professional services, tax and advisory services, with more than $5 billion in annual domestic revenue. The transaction represents the largest of its kind in more than 25 years.

With the combination, the multinational platform will have a footprint that spans more than 20 countries and territories, generates nearly $7.5 billion in revenue and employs more than 34,500 professionals across the Americas, Europe, the Middle East and the Asia-Pacific region.

The transaction will bring together Grant Thornton Advisors’ multinational platform capabilities and CBIZ’s deep relationships across the U.S., offering clients the benefits of cross-border scale, broad multidisciplinary capabilities and AI-enabled leading-edge technology solutions, while maintaining a focused commitment to high-quality service and differentiated client experiences.

The transaction will also build on Grant Thornton Advisors’ recently announced $1 billion investment in AI and advanced technologies, expanding the firm’s ability to bring AI-enabled solutions and capabilities to serve more clients and industries at an even greater scale.

According to Jim Peko, chief executive officer of Grant Thornton Advisors LLC and leader of the Grant Thornton Advisors multinational platform: “By combining our multinational platform with CBIZ's strong market presence, we're broadening our ability to support businesses through every stage of growth — from early development to global scale. Together, we'll bring the quality, scope and capabilities clients need to navigate an increasingly complex and rapidly evolving business environment.”

Jerry Grisko, president and chief executive officer of CBIZ, said: “This is a historic combination with a complementary cultural and strategic fit. CBIZ has grown rapidly over many years to become a leading professional services provider. Joining Grant Thornton Advisors accelerates the realization of that vision, creating a stronger firm with new and exciting opportunities for our team members and enhanced service offerings for clients, while delivering significant value to CBIZ shareholders.”

Andre Moura, managing director of New Mountain Capital, said: “We’re pleased to continue to support Grant Thornton Advisors’ strategic growth plan, a journey we have been on together since May 2024. Following the acquisition of CBIZ, Grant Thornton in the U.S. will be the fifth largest professional services, tax and advisory provider in the nation and one of the most forward-thinking firms in the world regarding AI. That scale and forward momentum will put the combined firm in a stronger position than ever to serve its clients and create meaningful opportunities for its partners and staff.”

Nikhil Devulapalli, managing director at New Mountain Capital, added: “The acquisition of CBIZ allows Grant Thornton Advisors to rapidly bring its market-leading AI and technology platform deeper into the market and continue its mission to lead on quality and breadth of service provided to a broad spectrum of clients of all sizes.”

Following the closing, Grant Thornton Advisors plans to separate CBIZ’s Benefits and Insurance Services segment into a new stand-alone entity backed by New Mountain Capital.

Bob Mulcare and Sean Donovan, managing directors at New Mountain Capital, said: “We look forward to building on the strong foundations within the Benefits and Insurance Services segment to create a new leading firm dedicated to insurance, retirement and payroll services — providing new opportunities to the clients and team members in that segment.”

Strategic rationale

The combination is expected to:

Build a differentiated professional services, tax and advisory provider. Following the acquisition of CBIZ, Grant Thornton Advisors will be better positioned to serve clients at all stages of growth with enhanced service offerings, multinational reach and premier technological resources across professional services, tax and advisory services.Accelerate technology and AI-enabled service delivery. The newly formed firm will support more clients with sophisticated AI-enabled service delivery, focused on using AI to transform client service, empower people and unlock new opportunities for growth.Enable greater depth of specialized industry expertise with expanded capabilities. The addition of CBIZ provides Grant Thornton Advisors with greater ability to deliver more tailored insights and solutions for clients, driven by a deep understanding of, and experience in, their specific industry.Strengthen client experience and service quality. Upon combination with CBIZ, Grant Thornton Advisors will maintain a strong focus on quality, applicable independence requirements, trust and client service — reflecting an ongoing commitment to its clients and purpose-built operating model.Increase the ability to invest in innovation, talent and technology. The combined firm will be the employer of choice for top talent in the industry, positioning the organization for long-term success in a fast-moving marketplace and creating even more opportunities for employees to grow, build rewarding careers and do their best work. Transaction details

Under the terms of the definitive merger agreement, CBIZ shareholders will receive $55.00 in cash for each share of CBIZ common stock they own. Upon completion of the transaction, CBIZ will become wholly-owned by Grant Thornton Advisors, and CBIZ common stock will cease to trade and no longer be listed on the New York Stock Exchange.

The CBIZ Board of Directors has unanimously approved the transaction and recommends that CBIZ shareholders vote in favor of the transaction. The transaction is expected to close in the fourth quarter of 2026, subject to approval by CBIZ shareholders, receipt of required regulatory approvals and satisfaction of other customary closing conditions.

Go-shop provision and superior proposals

Under the terms of the definitive merger agreement, CBIZ, along with its financial and legal advisors, will be permitted to actively solicit, consider and negotiate alternative acquisition proposals from third parties during a “go-shop” period ending at 11:59 p.m. Eastern Time on August 27, 2026. Prior to the CBIZ shareholder vote and subject to the terms and conditions of the definitive merger agreement, including notice and negotiation rights in favor of Grant Thornton Advisors, the CBIZ Board of Directors will have the right to terminate the merger agreement to enter into an alternative transaction that constitutes a superior proposal, subject to the terms and conditions of the merger agreement, including payment of a termination fee.

There can be no assurance that the go-shop process will result in a superior proposal. CBIZ does not intend to disclose developments with respect to the go-shop process unless and until it determines such disclosure is appropriate or required by law.

CBIZ second quarter 2026 earnings results

As a result of this announcement, in connection with its second quarter 2026 earnings release scheduled for July 29, 2026, CBIZ will release financial and operational results through a press release only and will no longer hold a conference call or webcast.

Advisors for the transaction

Goldman Sachs & Co. LLC is serving as financial advisor to CBIZ. Weil, Gotshal & Manges LLP is serving as legal advisor to CBIZ, and Teneo is serving as strategic communications advisor to CBIZ.

Deutsche Bank is acting as Lead Financial Advisor for Grant Thornton Advisors. Other Financial Advisors include J.P. Morgan, BMO Capital Markets, BofA Securities, RBC Capital Markets and UBS Investment Bank. Evercore is acting as Financial Advisor to New Mountain Capital and Grant Thornton on the CBIZ Benefits & Insurance segment. Simpson Thacher & Bartlett LLP, Mayer Brown LLP and Hunton Andrews Kurth LLP are serving as legal advisors to Grant Thornton Advisors, and Goldin Solutions is serving as strategic communications advisor.

About Grant Thornton in the U.S.

Grant Thornton delivers professional services in the U.S. through two specialized entities and their affiliates: Grant Thornton LLP, a licensed, certified public accounting (CPA) firm that provides audit and assurance services — and Grant Thornton Advisors LLC (not a licensed CPA firm), which exclusively provides non-attest offerings, including tax and advisory services.   

Grant Thornton LLP, Grant Thornton Advisors LLC and their respective subsidiaries operate as an alternative practice structure (APS). The APS conforms with applicable laws, regulations and professional standards, including those from the American Institute of Certified Public Accountants.

“Grant Thornton” refers to the brand under which the member firms in the Grant Thornton International Ltd (GTIL) network provide services to their clients and/or refers to one or more member firms. Grant Thornton LLP and Grant Thornton Advisors LLC serve as the U.S. member firms of the GTIL network. GTIL and its member firms are not a worldwide partnership and all member firms are separate legal entities. Member firms deliver all services; GTIL does not provide services to clients.

About Grant Thornton Advisors multinational platform

The Grant Thornton Advisors multinational platform is a group of firms within the Grant Thornton International Limited network* that connects priority markets and operates with aligned standards, technology and delivery expectations.

The platform is currently home to almost 20 aligned firms stretching from the Americas across Europe and the Middle East to the Asia-Pacific region. These firms bring together more than 25,000 professionals to deliver cross-border solutions powered by advanced technologies, a shared commitment to quality and a growing reputation as the industry’s employer-of-choice. The platform firms operate as separate legal entities.

*The Grant Thornton International Limited network provides access to its member firms in more than 150 global markets.

About CBIZ

CBIZ, Inc. (NYSE: CBZ) is a leading professional services advisor to businesses nationwide. With industry knowledge and expertise in accounting, tax, advisory, benefits, insurance and technology, CBIZ delivers actionable insights to help clients anticipate what is next and discover new ways to accelerate growth. CBIZ has more than 9,500 team members across 23 major markets coast to coast. For more information, visit www.cbiz.com. 

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit and net lease investment strategies with approximately $60 billion in assets under management. New Mountain Capital seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit https://www.newmountaincapital.com/.

Cautionary statement regarding forward-looking statements

This communication includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the proposed transaction between CBIZ and Grant Thornton Advisors (any such transaction, the “proposed transaction”). In this context, forward-looking statements generally are identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “predicts,” “potential,” “expects,” “may,” “could,” “might,” “likely,” “will,” “should” or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements, other than historical facts, including, but not limited to, statements regarding the expected timing and structure of the proposed transaction, the ability of the parties to complete the proposed transaction pursuant to the terms of the Agreement and Plan of Merger, dated as of July 28, 2026 (the “Merger Agreement”), if at all, the expected benefits of the proposed transaction, including future financial and operating results and strategic benefits, and the combined company’s plans, objectives, expectations and intentions, legal, economic and regulatory conditions, and any assumptions underlying any of the foregoing, are forward-looking statements.

These forward-looking statements are based on CBIZ’s and Grant Thornton Advisors’ current expectations with respect to the transactions contemplated by the Merger Agreement and are subject to risks and uncertainties, which may cause actual results to differ materially from CBIZ’s and Grant Thornton Advisors’ current expectations. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) that one or more closing conditions to the proposed transaction, including certain regulatory approvals, may not be satisfied or waived, on a timely basis or otherwise, or that the required approval by the shareholders of CBIZ may not be obtained; (2) the risk that the proposed transaction may not be completed on the terms or in the time frame expected by CBIZ and Grant Thornton Advisors, or at all; (3) unexpected costs, charges or expenses resulting from the proposed transaction; (4) uncertainty of the expected financial performance and results of operations of the combined company following completion of the proposed transaction; (5) failure to realize the anticipated benefits of the proposed transaction, including as a result of delay in completing the proposed transaction or integrating the businesses of CBIZ and Grant Thornton Advisors, on the expected timeframe or at all; (6) the ability of the combined company to implement its business strategy; (7) difficulties and delays in the combined company achieving revenue and cost synergies; (8) inability of the combined company to retain and hire key personnel; (9) the occurrence of any event that could give rise to termination of the proposed transaction; (10) the risk that shareholder litigation in connection with the proposed transaction or other litigation, settlements or investigations may affect the timing or completion of the proposed transaction or result in significant costs of defense, indemnification and liability; (11) evolving legal, regulatory and tax regimes; (12) changes in general economic, competitive, technological and/or industry-specific conditions affecting the businesses and industries in which CBIZ and Grant Thornton Advisors operate; (13) actions by third parties, including government agencies and rating agencies; (14) risks that any debt financing anticipated in connection with the proposed transaction is not obtained or that such financing cannot be obtained on the anticipated timing or terms or unexpected costs or expenses in connection therewith; (15) risks related to the disruption of management time from ongoing business operations due to the pendency of the proposed transaction, or other effects of the pendency of the proposed transaction on the relationship of any of the parties to the transaction with their employees, customers, partners, or other counterparties; (16) risks that any announcements relating to the proposed transaction could have adverse effects on the market price of CBIZ’s common stock, credit ratings, or operating results, and may have an adverse effect on the ability of CBIZ to retain and hire key personnel, retain customers, and maintain relationships with business partners, suppliers and customers; (17) the risk that the market price of CBIZ’s common stock may decline if the proposed transaction is not completed, and (18) the other risk factors described under the headings “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and other sections of CBIZ’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on February 26, 2026, as amended on March 2, 2026 and any subsequent amendments, and subsequent filings with the SEC, including documents that will be filed with the SEC in connection with the proposed transaction. The foregoing list of important factors is not exclusive.

Any forward-looking statements speak only as of the date of this communication. Neither CBIZ nor Grant Thornton Advisors undertakes any obligation to update any forward-looking statements, whether as a result of new information or developments, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

Important information about the transaction and where to find it

In connection with the proposed transaction, CBIZ intends to file relevant materials with the SEC, including a proxy statement on Schedule 14A (the “Proxy Statement”). The Proxy Statement will contain important information about the proposed transaction and related matters. This communication is not a substitute for the Proxy Statement or any other document that CBIZ may file with the SEC or send to its shareholders in connection with the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, SHAREHOLDERS OF CBIZ ARE ADVISED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER DOCUMENTS FILED BY CBIZ WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. All such documents, when filed, may be obtained free of charge at the SEC’s website (http://www.sec.gov). These documents, once available, and CBIZ’s other filings with the SEC also will be available free of charge on CBIZ’s website at https://ir.cbiz.com/financial-information/sec-filings.

Participants in the solicitation

CBIZ and its directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information regarding the names of such directors and executive officers and their respective interests in CBIZ by security holdings or otherwise is set forth in CBIZ’s definitive proxy statement on Schedule 14A for its 2026 annual meeting of shareholders, filed with the SEC on April 2, 2026 (the “2026 Annual Proxy”). Please refer to the sections captioned “Executive Compensation,” “Summary Compensation Table,” “2025 Grants of Plan-Based Awards,” “Outstanding Equity Awards At 2025 Fiscal Year-End,” “Option Exercises And Stock Vested In 2025,” “2025 Non-Qualified Deferred Compensation,” “Potential Payments upon Termination or Change in Control,” “Director Compensation,” “2025 Director Compensation Table,” and “Security Ownership of Certain Beneficial Owners and Management” in the 2026 Annual Proxy. To the extent that certain CBIZ participants or their affiliates have acquired or disposed of security holdings since the “as of” date disclosed in the 2026 Annual Proxy, such transactions have been or will be reflected on Statements of Change in Ownership on Form 4 or amendments to beneficial ownership reports on Schedules 13D or 13G filed with the SEC. Such filings and the 2026 Annual Proxy are available free of charge on CBIZ’s website at https://ir.cbiz.com/financial-information/sec-filings or through the SEC’s website at www.sec.gov. Updated information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in CBIZ’s Proxy Statement and other materials to be filed with the SEC in connection with the proposed transaction.

Grant Thornton Advisors LLC

Media Contact

Jon Rucket
Senior Director, External Communications
M: +1 404 984 6249
E: [email protected]

CBIZ, Inc.

Media Contact

Jack Flaherty
Managing Director, Teneo
M: +1 631 848 7779
E: [email protected]

Investor Relations Contact

Chris Sikora
Vice President, Investor Relations & Corporate Finance
O: +1 216 447 9000
E: [email protected]

KENNEDY SPACE CENTER, Fla.--(BUSINESS WIRE)--Starfighters Space, Inc. (“Starfighters Space” or the “Company”) (NYSE American: FJET), the space company operating the world's only commercial fleet of flight-ready Mach 2+ F-104 supersonic aircraft, today announced that, following a thorough evaluation process, its Audit Committee, with the approval of the Board of Directors has engaged CBIZ CPAs P.C. (“CBIZ CPAs”) to serve as the Company's independent registered public accounting firm. “Starfighte.

CBIZ (CBZ - Free Report) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 29. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis provider of outsourced business services is expected to post quarterly earnings of $0.74 per share in its upcoming report, which represents a year-over-year change of -22.1%.

Revenues are expected to be $699.41 million, up 2.3% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.62% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for CBIZ?For CBIZ, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -4.41%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that CBIZ will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that CBIZ would post earnings of $2.28 per share when it actually produced earnings of $2.50, delivering a surprise of +9.65%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

CBIZ doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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Appointment reflects the Company’s commitment to maintaining high standards of financial reporting, compliance, and corporate governance

PHILADELPHIA--(BUSINESS WIRE)--Datavault AI Inc. (NASDAQ: DVLT) (“Datavault AI” or the “Company”), a technology company focused on data valuation, monetization, governance, credentialing, digital asset infrastructure, and enterprise information management solutions, today announced the appointment of CBIZ CPAs P.C. (“CBIZ”) as the Company’s independent registered public accounting firm.

Datavault AI has engaged CBIZ CPAs P.C. as its independent registered public accounting firm, effective immediately and covering the audit of the Company’s financial statements.

Share The appointment supports Datavault AI’s ongoing commitment to maintaining high standards of financial reporting, compliance, and corporate governance as the Company continues to support its customers and stakeholders.

“Maintaining reliable financial reporting, transparency, accountability, and strong corporate governance is essential to serving our shareholders, customers, and other stakeholders,” said Nathaniel T. Bradley, Chief Executive Officer of Datavault AI. “The appointment of CBIZ reflects our continued commitment to those standards as we execute our business strategy.”

Additional information concerning the appointment is available in the Company’s Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission.

About Datavault AI

Datavault AITM (NASDAQ: DVLT) is leading the way in AI-driven data experiences, valuation, and monetization of assets in the Web 3.0 environment. The Company’s cloud-based platform provides comprehensive solutions with a collaborative focus in its Acoustic Sciences and Data Sciences divisions.

Datavault AI’s Acoustic Sciences division features WiSA®, ADIO®, and Sumerian® patented technologies and industry-first foundational spatial and multichannel wireless, high-definition sound transmission technologies with intellectual property covering audio timing, synchronization, and multi-channel interference cancellation. The Data Science division leverages the power of Web 3.0 and high-performance computing to provide solutions for experiential data perception, valuation, and secure monetization.

Datavault AI’s platform serves multiple industries, including high-performance computing software licensing for sports & entertainment, events & venues, biotech, education, fintech, real estate, healthcare, energy, and more. The Information Data Exchange® enables Digital Twins and the licensing of name, image, and likeness by securely attaching physical real-world objects to immutable metadata, fostering responsible AI with integrity. The Company’s technology suite is fully customizable and offers AI- and machine-learning-based automation, third-party integration, detailed analytics and data, marketing automation, and advertising monitoring.

The Company is headquartered in Philadelphia, PA. For more information, visit www.dvlt.ai. Investor information is available at ir.datavaultsite.com. Technology news and insights are published at dvlt.ai/insights.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Forward-looking statements may include statements regarding the Company’s business strategy, growth initiatives, technology development, enterprise adoption, commercial opportunities, and future operations.

Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “project,” “seek,” “should,” “target,” “will,” and similar expressions may identify forward-looking statements.

Forward-looking statements are based on management’s current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially. These risks include market acceptance of the Company’s technologies, economic and competitive conditions, evolving regulatory requirements, technological developments, the Company’s ability to execute its business strategy, and the risks described in the Company’s filings with the U.S. Securities and Exchange Commission.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statement except as required by applicable law.

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Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One company to watch right now is CBIZ (CBZ - Free Report) . CBZ is currently holding a Zacks Rank #2 (Buy) and a Value grade of A.

Investors should also recognize that CBZ has a P/B ratio of 1.53. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 3.97. Over the past year, CBZ's P/B has been as high as 4.51 and as low as 1.53, with a median of 2.16.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. CBZ has a P/S ratio of 0.63. This compares to its industry's average P/S of 1.16.

These are only a few of the key metrics included in CBIZ's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, CBZ looks like an impressive value stock at the moment.