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CLEVELAND, July 23, 2026 (GLOBE NEWSWIRE) -- July 23, 2026 – CBIZ, Inc. (NYSE: CBZ), a leading national professional services advisor, today announced it has launched the CBIZ Retirement Advantage PEP, a retirement solution designed to help middle-market businesses simplify retirement plan administration, reduce fiduciary burdens and provide employees with a competitive workplace savings benefit.

The CBIZ PEP delivers the level of oversight and discipline typically associated with large-plan providers, adapted for growing middle-market organizations. Unlike providers focused solely on retirement plan administration, CBIZ combines retirement consulting with a broad suite of employee benefits, insurance, payroll and advisory services, allowing clients to address workforce needs through an integrated approach.

Employers continue to face growing complexity associated with retirement plan governance, compliance requirements and fiduciary oversight. The CBIZ Pooled Employer Plan enables participating businesses to leverage a single retirement plan structure while outsourcing many administrative and fiduciary responsibilities to experienced providers.

“Managing a retirement plan has become increasingly complex. Employers are expected to navigate evolving regulations, oversee investments, manage vendors, and absorb fiduciary risk, all while controlling costs,” said Paula Lewis, Senior Vice President, Third Party Administration Operations for CBIZ. “A PEP lets multiple employers share one professionally managed 401(k) plan, greatly reducing administrative burden and fiduciary responsibility.”

Participating in CBIZ’s new PEP offers employers the following benefits:

Reduced administrative complexityProfessional fiduciary oversightStreamlined compliance and reportingAccess to institutional-quality retirement servicesA competitive employee benefit that supports recruitment and retention To learn more about CBIZ Retirement Advantage PEP, visit: Retirement Advantage PEP | CBIZ.

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. 

July 20, 2026 16:05 ET  | Source: CBIZ, Inc

CLEVELAND, July 20, 2026 (GLOBE NEWSWIRE) -- CBIZ, Inc. (NYSE: CBZ) (the “Company”), a leading professional services advisor to the middle market, will announce its financial results for the second quarter and first half ended June 30, 2026, after markets close on Wednesday, July 29, 2026.

CBIZ President and Chief Executive Officer Jerry Grisko and Chief Financial Officer Brad Lakhia will host a conference call at 5:00 p.m. ET on Wednesday, July 29, 2026, to discuss the Company’s financial results. The conference call will be webcast live and archived on the investor relations page of the CBIZ website at https://cbiz.gcs-web.com/investor-overview.

Investors can register at https://dpregister.com/sreg/10210297/10463b768f5 to receive the dial-in number and a unique personal identification number. Registration will be open throughout the live call, although participants are encouraged to join approximately 10 minutes before the start time to avoid delays.

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. 

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

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.

That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end 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 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.

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%, investors should actually focus on the projected growth. The company's EPS is expected to grow 12.8% this year, crushing the industry average, which calls for EPS growth of 6.9%.

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 5.4%.

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 6.6%.

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 0.1% 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 A 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 positions CBIZ well for outperformance, so growth investors may want to bet on it.

CBIZ, Inc. shares have rebounded from 10-year lows after a sharp decline driven by AI disruption fears and increased leverage from acquisitions. With no common dividend, CBZ could potentially repay all debt in about six years using $270-$290 million in annual free cash flow. Unusual underlying value and the prospect of deleveraging have positioned CBZ for a higher equity quote over time.

Research finds that 9 out of 10 leaders who prioritize innovation reported year-over-year revenue growth, with 51% growing by 10% or more March 18, 2026 09:00 ET  | Source: CBIZ, Inc.

Cleveland, March 18, 2026 (GLOBE NEWSWIRE) -- CBIZ, Inc. (NYSE: CBZ), a leading national professional services advisor, today released a new report, “The Tradeoff Economy: How Decision-Making Mindsets Shape Middle Market Performance,”developed in partnership with the National Center for the Middle Market (NCMM) and The Ohio State University Fisher College of Business.

According to NCMM, there are nearly 200,000 U.S. middle market businesses that represent one-third of private sector GDP, employing approximately 44.5 million people. These businesses outperformed through the financial crisis (2007–2010 period) by adding 2.2 million jobs across major industry sectors and U.S. geographies, demonstrating their importance to the overall health of the U.S. economy.

“The Tradeoff Economy,” based on a survey of 400 U.S. middle market CEOs, CFOs, and COOs, explores how middle market leaders manage the rising number of critical decisions they face to stay competitive in today’s complex business landscape. Amid ongoing challenges such as cost pressures, talent shortages, regulatory hurdles, and economic instability, executives must often weigh conflicting priorities—including growth versus profitability and speed versus precision.

The report shows that a leader’s approach to these tradeoffs, not just the decisions they make, can greatly impact company performance. This helps explain why similar companies in the same markets often achieve very different outcomes.

“This research emphasizes that middle market leaders constantly face tradeoffs as they aim for growth and margin improvements,” said Brad Lakhia, Chief Financial Officer at CBIZ. “Understanding the decision-making mindset behind those choices provides leaders with a clearer framework for managing investments —in technology, artificial intelligence, talent, and innovation—and how to maintain performance amid uncertainty.”

Key findings from “The Tradeoff Economy”

Four decision-making mindsets shape performance: disciplined growers, performance protectors, centralized innovators, and decentralized accelerators.Growth remains the primary strategic driver, but companies vary widely in how they pursue it.The Middle Market is aligned across several foundational tradeoffs: 78% choose accuracy over speed75% choose quality over cost78% prioritize long-term value over short-term gains When cost pressures intensify, 49% of middle market leaders say they would protect customer service or customer experience, while only 25% would sacrifice it. Innovation investment is more at risk, with 53% saying they would reduce investment in research, development, or innovation.Companies that focus on innovation report stronger growth and higher confidence in their future performance. Nearly all consider themselves ahead of competitors and have positive outlooks for the next six months. What this means for middle market companies

The research also highlights several implications for middle market leaders navigating today’s economic environment:

Cost and margin management remain critical as companies balance expansion with financial discipline.Talent strategy is becoming a defining differentiator, from hiring and retention to workforce upskilling.Technology investment is accelerating, with top-performing companies aggressively digitizing operations.Scenario-based decision-making is increasingly essential as leaders face more complex and frequent tradeoffs.Strategies must reflect different leadership mindsets, rather than applying a one-size-fits-all approach. “The data indicates that although no single mindset ensures success in all environments, companies focusing on innovation generally experience stronger growth and higher confidence,” said Doug Farren, Executive Director of the National Center for the Middle Market. “We also notice a strong consistency in core priorities—leaders predominantly prioritize accuracy over speed, quality over cost, and long-term value over short-term gains.”

Download the full report here.

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. 

About the research

This report is based on a 15-minute self-administered online survey fielded in December 2025 to 400 middle market business leaders and decision-makers from companies with annual revenues between $10 million and less than $1 billion. The sample includes respondents from three key industry segments: consumer and industrial products (N=208) construction (N=105), and real estate (N=87). A working research team, including experts from NCMM, Fisher College of Business faculty, CBIZ, and other subject-matter specialists, designed the survey questions.

Download the Report The Tradeoff Economy Contact Data Amy McGahan CBIZ, Inc. [email protected]

Posted by Defense World Staff on Apr 10th, 2026

Representative Josh Gottheimer (Democratic-New Jersey) recently sold shares of CBIZ, Inc. (NYSE:CBZ). In a filing disclosed on April 08th, the Representative disclosed that they had sold between $1,001 and $15,000 in CBIZ stock on March 5th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

Sold $1,001 – $15,000 in shares of ENN Energy (OTCMKTS:XNGSY) on 3/24/2026. Sold $1,001 – $15,000 in shares of Crown Castle (NYSE:CCI) on 3/24/2026. Purchased $1,001 – $15,000 in shares of Fabrinet (NYSE:FN) on 3/24/2026. Sold $1,001 – $15,000 in shares of Intapp (NASDAQ:INTA) on 3/12/2026. Sold $1,001 – $15,000 in shares of Alcon (NYSE:ALC) on 3/12/2026. Sold $1,001 – $15,000 in shares of La-Z-Boy (NYSE:LZB) on 3/12/2026. Sold $1,001 – $15,000 in shares of HDFC Bank (NYSE:HDB) on 3/12/2026. Sold $1,001 – $15,000 in shares of Infineon Technologies (OTCMKTS:IFNNY) on 3/12/2026. Purchased $1,001 – $15,000 in shares of SEA (NYSE:SE) on 3/10/2026. Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 3/6/2026. CBIZ Stock Performance NYSE:CBZ opened at $27.61 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.79. The firm has a 50-day moving average price of $29.20 and a two-hundred day moving average price of $43.80. CBIZ, Inc. has a twelve month low of $24.29 and a twelve month high of $80.65. The company has a market capitalization of $1.51 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 0.52 and a beta of 0.93.

CBIZ (NYSE:CBZ – Get Free Report) last posted its earnings results on Wednesday, February 25th. The business services provider reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.04). CBIZ had a net margin of 4.19% and a return on equity of 12.23%. The business had revenue of $542.66 million for the quarter, compared to analysts’ expectations of $578.02 million. During the same quarter last year, the business posted ($0.20) earnings per share. The business’s revenue was up 17.9% compared to the same quarter last year. CBIZ has set its FY 2026 guidance at 3.750-3.850 EPS. As a group, research analysts expect that CBIZ, Inc. will post 2.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CBIZ Hedge funds and other institutional investors have recently modified their holdings of the company. Durable Capital Partners LP purchased a new stake in CBIZ in the third quarter valued at approximately $207,872,000. 22C Capital LLC purchased a new stake in CBIZ in the fourth quarter valued at approximately $161,554,000. Bank of Montreal Can purchased a new stake in CBIZ in the fourth quarter valued at approximately $113,596,000. SG Americas Securities LLC purchased a new stake in CBIZ in the fourth quarter valued at approximately $35,653,000. Finally, Sunriver Management LLC purchased a new stake in CBIZ in the third quarter valued at approximately $31,605,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes Several equities analysts have weighed in on the stock. Zacks Research upgraded shares of CBIZ from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Weiss Ratings restated a “sell (d+)” rating on shares of CBIZ in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CBIZ in a report on Monday, January 12th. They set a “hold” rating and a $60.00 target price for the company. BMO Capital Markets began coverage on shares of CBIZ in a report on Monday, March 30th. They set an “outperform” rating and a $33.00 target price for the company. Finally, CJS Securities upgraded shares of CBIZ to a “strong-buy” rating in a report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.50.

View Our Latest Research Report on CBZ

Insider Transactions at CBIZ In related news, CFO Brad S. Lakhia bought 12,775 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $25.97 per share, for a total transaction of $331,766.75. Following the completion of the acquisition, the chief financial officer owned 148,480 shares in the company, valued at $3,856,025.60. This trade represents a 9.41% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.95% of the company’s stock.

About Representative Gottheimer Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2027.

Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2026 election.

Gottheimer is also running for election for Governor of New Jersey. He declared candidacy for the Democratic primary scheduled on June 10, 2025.

Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

About CBIZ (Get 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.

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Integrated leadership unifies enterprise IT and client facing technology capabilities to strengthen execution, enhance client outcomes, and advance business transformation, innovation, and AI strategy April 14, 2026 10:30 ET  | Source: CBIZ, Inc.

Cleveland, April 14, 2026 (GLOBE NEWSWIRE) -- CBIZ, Inc. (NYSE: CBZ), a leading national professional services advisor, announced today that Peter Scavuzzo has been elevated to Senior Vice President, Chief Information & Technology Officer and will continue to serve as President of CBIZ Technology. He succeeds Chief Information Officer, John Fleischer, who is retiring after 12 years with CBIZ. As part of a planned transition, Scavuzzo will assume the expanded role on May 1.

“Technology—particularly AI—is an increasingly important driver of how we deliver value to our clients,” said Jerry Grisko, President and CEO of CBIZ, Inc. “By bringing enterprise IT and Business Transformation and Innovation together under Peter’s leadership, we are advancing Technology, Data, and AI as an enterprise-wide capability. This will enable us to deliver greater insights and value to our clients supporting long-term revenue growth while driving efficiency.”

“On behalf of the entire CBIZ team, I thank John for his exceptional leadership and numerous contributions,” said Jerry Grisko. “He developed a robust, service-focused IT organization, enhanced our infrastructure and cybersecurity, and supported our business’ growth and integration over the years. We appreciate his invaluable contributions and wish him all the best in retirement.”

In Peter’s current role as CBIZ’s Chief Strategy Officer and National Leader of Technology, Scavuzzo has driven initiatives in enterprise transformation, innovation, AI, and business intelligence for CBIZ and its clients. As part of his expanded role, he will integrate CBIZ’s enterprise IT, client-facing solutions, and the Business Transformation and Innovation team under unified leadership, aligning technology investments with business goals to deliver accelerated results. His focus will include aligning technology with business needs, managing the technology portfolio, and ensuring business continuity. With a background in computer engineering and accounting, Peter combines strategic vision with superior execution.

“I’m honored to lead our newly unified technology function and continue building on the strong foundation that John and our teams have established,” said Scavuzzo. “Technology is essential for all functions at CBIZ and for our clients. By integrating leadership of enterprise IT with CBIZ Technology, we will better align investments with strategic goals, enhance resilience and security, accelerate delivery, and ensure that the business—and our clients—remain at the center of every decision.”

Scavuzzo joined CBIZ in 2024 following its acquisition of Marcum LLP, where he served as Chief Information & Digital Officer and Chief Executive Officer of Marcum Technology. In this role, he led innovation initiatives, like the Marcum Labs incubator, and managed growth through more than 50 M&A deals. He has more than 25 years of experience and holds a Bachelor of Science in Computer Engineering and a Master of Science in Telecommunication Networks from Polytechnic University.

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. 

Peter Scavuzzo

Peter Scavuzzo Senior Vice President, Chief Information & Technology Officer

CBIZ Contact Data Amy McGahan CBIZ, Inc. [email protected]

Posted by Defense World Staff on Apr 24th, 2026

Shares of CBIZ, Inc. (NYSE:CBZ – Get Free Report) have earned an average recommendation of “Hold” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $41.3333.

CBZ has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of CBIZ from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Weiss Ratings reiterated a “sell (d+)” rating on shares of CBIZ in a research report on Wednesday, January 21st. BMO Capital Markets started coverage on shares of CBIZ in a research report on Monday, March 30th. They set an “outperform” rating and a $33.00 price target for the company. Stephens started coverage on shares of CBIZ in a research report on Friday, April 10th. They set an “equal weight” rating and a $31.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of CBIZ in a research report on Monday, January 12th. They set a “hold” rating and a $60.00 price target for the company.

View Our Latest Research Report on CBZ

Insider Activity In related news, CFO Brad S. Lakhia purchased 12,775 shares of CBIZ stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $25.97 per share, for a total transaction of $331,766.75. Following the transaction, the chief financial officer owned 148,480 shares in the company, valued at approximately $3,856,025.60. The trade was a 9.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On CBIZ A number of hedge funds and other institutional investors have recently modified their holdings of CBZ. AQR Capital Management LLC lifted its position in shares of CBIZ by 6.2% during the 1st quarter. AQR Capital Management LLC now owns 11,725 shares of the business services provider’s stock valued at $889,000 after acquiring an additional 682 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of CBIZ by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,294 shares of the business services provider’s stock valued at $2,222,000 after acquiring an additional 1,318 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of CBIZ by 5.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,270 shares of the business services provider’s stock valued at $10,868,000 after acquiring an additional 7,676 shares during the period. Jane Street Group LLC lifted its position in shares of CBIZ by 96.1% during the 1st quarter. Jane Street Group LLC now owns 41,240 shares of the business services provider’s stock valued at $3,128,000 after acquiring an additional 20,214 shares during the period. Finally, Prudential Financial Inc. lifted its position in shares of CBIZ by 80.4% during the 2nd quarter. Prudential Financial Inc. now owns 6,637 shares of the business services provider’s stock valued at $492,000 after acquiring an additional 2,957 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

CBIZ Price Performance Shares of NYSE:CBZ opened at $29.68 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.79. The company has a market cap of $1.63 billion, a P/E ratio of 16.77, a PEG ratio of 0.57 and a beta of 0.93. CBIZ has a 52 week low of $24.29 and a 52 week high of $77.91. The company has a 50-day moving average price of $28.00 and a 200 day moving average price of $42.14.

CBIZ (NYSE:CBZ – Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The business services provider reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.04). The firm had revenue of $542.66 million during the quarter, compared to analyst estimates of $578.02 million. CBIZ had a net margin of 4.19% and a return on equity of 12.23%. CBIZ’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.20) EPS. CBIZ has set its FY 2026 guidance at 3.750-3.850 EPS. Research analysts predict that CBIZ will post 3.78 earnings per share for the current year.

About CBIZ (Get 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.

Further Reading Five stocks we like better than CBIZ

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YoY Growth in Revenue, Earnings, and Cash Flow
Increased Adjusted Diluted EPS Outlook for Completed Share Repurchases
Executing on Capital Allocation Priorities

First-Quarter Financial Highlights:

Total revenue of $849M, up 1.3%; Financial Services revenue up 2.1%Net income of $162M, up 31.6%; GAAP EPS of $2.63, up 37.7%Adjusted EBITDA of $244M, up 1.5%; Adjusted diluted EPS of $2.50, up 7.3%Operating cash flow up 71.1%; Free cash flow up 69.5%Repurchased ~2M shares for ~$63M through end of April; net leverage decreased 0.5x YoY2026 outlook continues to contemplate low to mid-single digit revenue growth, improved earnings and strong free cash flow conversion over prior year CLEVELAND, April 29, 2026 (GLOBE NEWSWIRE) -- CBIZ, Inc., (NYSE: CBZ) (“CBIZ” or the “Company”), a leading national professional services advisor, today announced first quarter results for the period ended March 31, 2026.

Management Commentary:

Jerry Grisko, CBIZ President and Chief Executive Officer, said, “We entered 2026 with clear strategic priorities and executed with discipline in the first quarter. We achieved year-over-year growth in revenue, earnings, and free cash flow, while returning capital to shareholders through highly accretive share repurchases. Our organic growth improved throughout the quarter and is up sequentially compared to the fourth quarter. Reflecting our solid performance and the impact of the share repurchases, we are increasing our adjusted EPS outlook and reaffirming our other previously communicated targets.”

Grisko continued, “As we look ahead, we are encouraged by the momentum building across the business and the strong performance of our teams during our first busy season as a fully integrated organization. We remain focused on investing in our people, strengthening our brand, deepening our industry specialization, and enhancing the breadth and depth of services provided to our clients. We believe our strategy and continued execution position CBIZ to drive attractive growth and deliver long-term value for our clients and shareholders.”

Business Highlights:

Named a Top Workplace in the nation by USA Today for the sixth consecutive yearElevated Peter Scavuzzo, one of the leading voices on technology and AI in our industries, to Chief Information and Technology Officer to bring Enterprise IT, Business Transformation and Innovation all under one strategic leaderCBIZ team members continue to be recognized by the market as among the most highly regarded leaders in a number of industry groups, including Construction, Real Estate, Consumer and Industrial Products, Tech and Life Science and Private EquityAttracted new senior professional hires with strong retention levels across the businessDriving cross-serve and new logo wins through industry groups, increasing share of wallet and pipeline conversion across key verticals, such as Private Equity, Construction and Alternative InvestmentsExpanding breadth and depth of services through integrated delivery, collaborating across practices and geographies to support large, multi-service engagements, including cross-border tax, transaction advisory and technology-led workAchieved meaningful progress in deploying an agentic AI platform to drive productivity, consistency, and quality across operationsAccelerating our access to global capabilities to expand capacity and improve efficiency; on track to achieve 2026 target of 10% of total tax and attest hours completed by global resourcesAdvanced integration milestones during the quarter and on track to realize $12M in additional operational synergies in 2026 - continue to expect greater than $50M cumulativelyLaunched spring national brand campaign, featuring targeted, nationally televised ads across key markets to raise brand awareness
2026 Financial Outlook:

MetricPrevious 2026 OutlookUpdated 2026 OutlookTotal Revenue~$2.8B to $2.9B~$2.8B to $2.9BAdjusted EBITDA~$450M to $460M~$465M to $475MAdjusted Diluted EPS~$3.75 to $3.85~$4.00 to $4.10Free Cash Flow~$270M to $290M~$270M to $290M    2026 Financial Outlook Additional Support:

Revenue outlook represents approximately 2% to 5% growthIncreased Adjusted EBITDA and Adjusted Diluted EPS outlook ranges to reflect a stock-based compensation adjustment and share repurchases through end of AprilEffective tax rate of approximately 28.5%Weighted average fully diluted share count of approximately 60.5 million shares, down from approximately 62 million shares in previous outlookFree Cash Flow represents approximately 60% conversion of Adjusted EBITDA Conference Call
CBIZ will host a conference call today at 5 p.m. (ET) to discuss its first quarter results. The call will be webcast, and an archived replay will be available at https://cbiz.gcs-web.com/investor-overview. Participants can register for the conference call at https://dpregister.com/sreg/10208405/103d3539954.

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, our “2026 Financial Outlook,” 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: 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 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 from Marcum of substantially all of Marcum’s attest business assets (the “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 (the “2024 Credit Facilities”) 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 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 Transaction may adversely impact our stock price; the future issuance of additional shares could adversely affect the price of our common stock; there is volatility in our stock price; and the price of our common stock could be adversely impacted if we do not perform to expectations following the Transaction.

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 (“SEC”). 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. 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, and Free Cash Flow, which are non-GAAP measures. These non-GAAP measures are adjusted to exclude the impact of the 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. The Company does not reconcile its forward-looking non-GAAP financial measures to the most comparable financial measure presented in accordance with GAAP, due to variability and difficulty in making accurate forecasts and projections and/or certain information not being ascertainable or accessible without unreasonable efforts. For example, the Company may be unable, without unreasonable efforts, to predict with reasonable certainty the timing or amount of integration costs, amortization of acquired intangible assets and certain other significant non-operating related gains and losses on a forward-looking basis. The significance of this unavailable information could have a material impact on the Company’s GAAP results. The Company provides forward-looking non-GAAP financial measures that it believes will be achieved; however, it cannot accurately predict all of the components of the most directly comparable financial measures presented in accordance with GAAP, and the GAAP measures may be materially different than the non-GAAP measures.

CBIZ, INC.
FINANCIAL HIGHLIGHTS (UNAUDITED)
THREE MONTHS ENDED MARCH 31, 2026 AND 2025
(In thousands, except percentages and per share data)
   Three Months Ended March 31,  2026  %  2025  %Revenue$848,579  100.0% $838,014  100.0%Operating expenses(1) 622,562  73.4   609,912  72.8 Gross margin 226,017  26.6   228,102  27.2 Corporate general and administrative expenses(1) 29,568  3.5   28,070  3.3 Operating income 196,449  23.1   200,032  23.9 Other (expense) income:       Interest expense (23,916) (2.8)  (25,156) (3.0)Gain from acquisition related adjustment, net 57,955  6.8   —  — Other expense, net(1) (2) (4,016) (0.5)  (1,966) (0.2)Total other income (expense), net 30,023  3.5   (27,122) (3.2)Income before income tax expense 226,472  26.7   172,910  20.6 Income tax expense 64,860     50,137   Net income$161,612  19.0% $122,773  14.7%        Diluted earnings per share$2.63    $1.91           Diluted weighted average common shares outstanding 61,537     64,142   Other data:       Adjusted EBITDA(3)$244,343  28.8% $240,725  28.7%Adjusted Diluted EPS(3)$2.50    $2.33                (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 March 31, 2026, and 2025, are as follows (in thousands, except percentages):

  Three Months Ended March 31,Income statement line items:  2026  % of Revenue  2025  % of RevenueOperating expense $(3,069) (0.4)% $(2,432) (0.3)%Corporate general and administrative income  (319) —%  (119) —%Other expense, net  3,388  0.4%  2,551  0.3%                Excluding the impact of the above-mentioned income and expenses related to the deferred compensation plan, the operating results for the three months ended March 31, 2026, and 2025, are as follows (in thousands, except percentages):

 Three Months Ended March 31,  2026   2025  As
Reported Deferred Compensation Plan Adjusted % of
Revenue As
Reported Deferred Compensation Plan Adjusted % of
RevenueGross margin$226,017  $(3,069) $222,948  26.3% $228,102  $(2,432) $225,670 26.9%Operating income 196,449   (3,388)  193,061  22.8%  200,032   (2,551)  197,481 23.6%Other expense, net (4,016)  3,388   (628) (0.1)%  (1,966)  2,551   585 0.1%Income before income tax expense 226,472   —   226,472  26.7%  172,910   —   172,910 20.6% (2)  Included in "Other expense, net" for the three months ended March 31, 2026, and 2025, is expense of $0.2 million and $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.

CBIZ, INC.
FINANCIAL HIGHLIGHTS (UNAUDITED)
SELECT SEGMENT DATA
(In thousands)
   Three Months Ended March 31,  2026   2025 Revenue   Financial Services(1)$740,330  $725,038 Benefits and Insurance Services 108,249   112,976 Total Revenue$848,579  $838,014     Gross Margin   Financial Services(1)$209,560  $204,280 Benefits and Insurance Services 23,015   27,618 Operating expenses - unallocated(2):   Other expense (9,627)  (6,228)Deferred compensation 3,069   2,432 Total Gross Margin$226,017  $228,102 As a % of Revenue 26.6%  27.2%         (1)  During the three months of March 31, 2026, the National Practice practice 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 months ended March 31, 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)
   Three Months Ended March 31,  2026   2025 Net income$161,612  $122,773 Adjustments to reconcile net income to net cash provided by operating activities:   Depreciation and amortization expense 23,750   24,791 Bad debt expense, net of recoveries 1,409   417 Adjustments to contingent earnout liability, net 195   502 Deferred income taxes 7,530   5,639 Stock-based compensation expense 14,660   4,320 Amortization of deferred financing fees 1,349   1,298 Other, net 837   (289)Changes in assets and liabilities, net of acquisitions and divestitures:   Accounts receivable, net (214,671)  (201,258)Other assets 2,910   (8,990)Accounts payable (4,191)  11,985 Income taxes payable 49,791   45,626 Accrued personnel costs (77,295)  (84,642)Other liabilities 6,599   (10,438)Net cash used in operating activities (25,515)  (88,266)Net cash used in investing activities (2,919)  (4,961)Net cash provided by (used in) financing activities (12,578)  55,363 Net decrease in cash, cash equivalents and restricted cash (41,012)  (37,864)Cash, cash equivalents and restricted cash at beginning of year 218,090   187,170 Cash, cash equivalents and restricted cash at end of period$177,078  $149,306     Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheet:Cash and cash equivalents$28,718  $8,850 Restricted cash 40,622   40,777 Cash equivalents included in funds held for clients 107,738   99,679 Total cash, cash equivalents and restricted cash$177,078  $149,306  CBIZ, INC.
GAAP RECONCILIATION
Operating Cash Flow to Free Cash Flow(1)
(Unaudited. Amounts in thousands, except per share data)
   Three Months Ended March 31,  2026   2025 Net cash used in operating activities$(25,515) $(88,266)Less:   Additions to property and equipment (3,000)  (5,177)Free Cash Flow$(28,515) $(93,443)         (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)
     March 31, 2026 December 31, 2025Cash and cash equivalents$28,718  $18,290 Restricted cash 40,622   38,234 Accounts receivable, net 769,442   555,995 Other current assets 77,639   79,693 Current assets before funds held for clients 916,421   692,212 Funds held for clients 152,862   207,037 Goodwill and other intangible assets, net 2,856,166   2,869,790     Total assets 4,629,960   4,409,528     Current liabilities before client fund obligations, excluding short-term debt 427,781   462,484 Client fund obligations 152,951   206,738 Current portion, Term Loan(1) 78,750   70,000 Revolver Facility(1) 239,000   142,400 Long-term portion, Term Loan(1) 1,233,750   1,260,000     Total liabilities 2,735,784   2,647,461     Treasury stock (1,110,111)  (1,078,521)    Total stockholders' equity 1,894,176   1,762,067     Debt to equity 69.3%  75.5%Days sales outstanding (DSO)(2) 99   71     Shares outstanding 54,299   54,380 Basic weighted average common shares outstanding 61,424   62,909 Diluted weighted average common shares outstanding 61,537   63,240          (1)  Reflects the gross debt for the Term Loan and Revolving Credit Facility excluding the associated unamortized deferred debt issuance costs totaling $15.1 million and $16.5 million, respectively, as of March 31, 2026 and December 31, 2025.

(2)  DSO is provided for continuing operations and represents accounts receivable, net, at the end of the period, divided by trailing twelve-months daily revenue. The Company has included DSO data because such data is commonly used as a performance measure by analysts and investors and as a measure of the Company's ability to collect on receivables in a timely manner. DSO should not be regarded as an alternative or replacement to any measurement of performance under GAAP. DSO on March 31, 2025, was 96.

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 March 31, 2026 Financial
Services Benefits and
Insurance
Services Corporate &
Other Consolidated EPSNet income (loss)$208,687  $23,390  $(70,465) $161,612  $2.63 Adjustments:         Amortization of acquired intangible assets 17,135   1,519   —   18,654   0.30 Integration costs related to acquisitions(2) 14,800   23   9,046   23,869   0.39 Gain from acquisition related adjustment, net(3) —   —   (57,955)  (57,955)  (0.94)Stock-based compensation(4) 658   —   3,649   4,307   0.07 Income tax effect related to adjustments —   —   3,186   3,186   0.05 Adjusted net income (loss)$241,280  $24,932  $(112,539) $153,673  $2.50 Interest expense —   —   23,916   23,916   Income tax expense —   —   64,860   64,860   Tax effect related to the adjustments above —   —   (3,186)  (3,186)  Depreciation(5) 3,184   507   1,389   5,080   Adjusted EBITDA$244,464  $25,439  $(25,560) $244,343   As a % of Revenue 33.0%   23.5%  N/A  28.8%              Three Months Ended March 31, 2025 Financial
Services Benefits and
Insurance
Services Corporate &
Other Consolidated EPSNet income (loss)$204,465  $27,945  $(109,637) $122,773  $1.91 Adjustments:         Amortization of acquired intangible assets 16,890   1,776   —   18,666   0.29 Integration costs related to acquisitions(2) 2,513   156   13,023   15,692   0.24 Litigation costs —   —   796   796   0.01 Stock-based compensation(4) —   —   2,309   2,309   0.04 Income tax effect related to adjustments —   —   (10,863)  (10,863)  (0.16)Adjusted net income (loss)$223,868  $29,877  $(104,372) $149,373  $2.33 Interest expense —   —   25,156   25,156   Income tax expense —   —   50,137   50,137   Tax effect related to the adjustments above —   —   10,863   10,863   Depreciation(5) 3,558   549   1,089   5,196   Adjusted EBITDA$227,426  $30,426  $(17,127) $240,725   As a % of Revenue 31.4%   26.9%  N/A  28.7%                    (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 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 Transaction.

(3)  Gain related the finalization of working capital and related purchase price adjustments associated with the Transaction.

(4)  Stock-based compensation expense reported for the three months ended March 31, 2026 and 2025 excluded $3.2 million and $3.3 million, respectively, of stock-based compensation expense reported as “Integration costs related to acquisitions” above.

(5)  Depreciation expense reported for the three months ended March 31, 2026 and 2025 excluded $16 thousand and $0.9 million, respectively, of depreciation expense reported as “Integration costs related to acquisitions” above. The accelerated depreciation was associated with certain technology assets from the Transaction.

CBIZ, Inc. (CBZ) Q1 2026 Earnings Call Transcript

Shares of CBIZ (CBZ - Free Report) have gained 10.5% over the past four weeks to close the last trading session at $30.5, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $41 indicates a potential upside of 34.4%.

The mean estimate comprises four short-term price targets with a standard deviation of $13.24. While the lowest estimate of $31.00 indicates a 1.6% increase from the current price level, the most optimistic analyst expects the stock to surge 96.7% to reach $60.00. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.

While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.

However, an impressive consensus price target is not the only factor that indicates a potential upside in CBZ. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.

Price, Consensus and EPS Surprise

Here's What You May Not Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.

While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?

They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.

However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.

That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.

Why CBZ Could Witness a Solid UpsideThere has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For the current year, one estimate has moved higher over the last 30 days compared to no negative revision. As a result, the Zacks Consensus Estimate has increased 8.6%.

Moreover, CBZ currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Therefore, while the consensus price target may not be a reliable indicator of how much CBZ could gain, the direction of price movement it implies does appear to be a good guide.

Cleveland, May 14, 2026 (GLOBE NEWSWIRE) -- CBIZ, Inc. (NYSE: CBZ), a leading national professional services advisor, today released the latest quarterly edition of its  Mid-Market Pulse Report . The study reveals that while mid-market organizations are ambitious, resilient, and focused on growth, execution is increasingly challenged by rising costs, workforce constraints, and ongoing economic and policy uncertainty.

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 stocks like Stantec Inc. (STN - Free Report) , CBIZ, Inc. (CBZ - Free Report) and Charles River Associates (CRAI - 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 such as 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 1.6% in the first quarter of 2026 against a 0.5% increase in the fourth quarter of 2025. Non-manufacturing activities remained strong, as reflected in the April Services PMI, which stayed above the 50% threshold for the 22nd 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 Weak Near-Term Prospects The Consulting Services industry, which is housed within the broader Business Services sector, currently carries a Zacks Industry Rank of #190. This rank places it in the bottom 23% of 246 Zacks industries.

The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates weak 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 over the past 12 months.

The industry has declined 40.6% against the S&P 500 composite’s growth of 31.1%. The broader sector has declined 21.8% in the said time frame.

One-Year Price Performance

Industry's Current Valuation On the basis of the forward 12-month price-to-earnings (P/E), which is a commonly used multiple for valuing consulting services companies, we see that the industry is currently trading at 14.67X, below the S&P 500’s 22.23X and the sector’s 17.38X.

Over the past five years, the industry has traded as high as 31.53X and as low as 14.39X, with a median of 26.15X, as the charts below show.

Price to Forward 12 Months P/E Ratio

3 Consulting Services Stocks to Consider Stantec: The company provides professional services in infrastructure and facilities. It remains well-positioned for continued success, supported by industry resilience and effective internal strategies. STN benefits from strong macroeconomic and structural drivers while maintaining sharp execution on its projects, enabling margin expansion and earnings growth.

Stantec operates in a resilient sector shaped by long-term global needs, including water security, aging infrastructure, climate change response, advanced manufacturing and emerging technologies. These trends are expected to sustain strong project demand across regions.

Stantec’s consistent focus on high-quality project execution and addressing clients’ most urgent infrastructure and sustainability challenges supports steady growth. This disciplined approach continues to drive margin improvement and robust earnings performance.

The Zacks Consensus Estimate for the company’s 2026 EPS has increased 0.5% in the past 60 days to $4.50. STN currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 

Price and Consensus: STN

Charles River Associates: Technologically advanced analytic techniques continue to raise both complexity and safety expectations, and Charles Riveris well-positioned to capitalize on these shifts. With a highly educated employee base and in-depth industry knowledge, the company delivered growth with high-quality analytical and strategic consulting services across diverse industries.

Presence across North America and Europe has been benefiting the company for long-term growth. This international footprint also fosters collaboration with leading professionals globally, further solidifying its expertise and appeal. Its Forensic Services practice continued to see strong demand across cybersecurity, fraud investigations, trade-secret disputes and litigation support. The Legal and Regulatory Services and Energy and Life Sciences Services are also witnessing strong growth, while the Finance practice remains a significant revenue generator across corporate governance disputes, mergers, bankruptcy matters, securities litigation, insurance cases, and international arbitration.

The Zacks Consensus Estimate for the company’s 2026 EPS has increased 1.1% in the past 60 days to $8.52. CRAI also currently carries a Zacks Rank #3.

Price and Consensus: CRAI

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 7.7% in the past 60 days to $4.07. CBIZ currently carries a Zacks Rank #3.

Price and Consensus: CBZ