CBIZ, Inc. (CBZ)

Over the past six months, CBIZ's stock price has experienced a decline. As of January 9, 2026, the share price was $54.75, representing a decline of 33.88% from $82.81 on January 13, 2025. The stock was down approximately 34.1% year-to-date and 34.5% over the past year as of December 17, 2025. The acquisition of Marcum's non-attest business has been a central theme, positioning CBIZ as the seventh-largest accounting firm in the U.S. CBIZ reported strong third-quarter 2024 results, exceeding internal expectations with a 6.9% year-over-year increase in total revenue and a 27% increase in adjusted EPS compared to Q3 2023. CBIZ reported positive first-quarter 2025 results, with total revenue up 69.5%, net income up 59.7%, and adjusted diluted EPS up 40.5% year-over-year, largely driven by the full quarter inclusion of the Marcum acquisition. CBIZ reported Q3 2025 earnings per share (EPS) of $1.01, exceeding analysts' expectations of $0.91 by 10.99%. The company has acknowledged the impact of the uncertain economic and geopolitical environment, which has led to softness in non-recurring service lines. Persistent pricing pressure continues to weigh on core offerings. Tightening credit markets were impacting the confidence levels of business owners.

CBIZ's business experiences demand seasonality, particularly influenced by the nature of its services. The company's recurring accounting and tax business, as well as its Benefits and Insurance group, tend to perform predictably and strongly in the first quarter. Non-recurring service lines are more susceptible to economic and geopolitical uncertainties, leading to softness in demand. The pacing of earnings is expected to differ from historical patterns due to the Marcum acquisition and the current seasonality of the business.

CBIZ, Inc. is a national provider of professional business services, specializing in financial, insurance, and advisory solutions, operating within the professional services sector. Founded in 1987 in Independence, Ohio, CBIZ offers business solutions to the U.S. middle market, serving businesses, organizations, and high-net-worth individuals. The company operates through three segments: Financial Services, Benefits and Insurance Services, and National Practices. Approximately 77% of CBIZ's services are essential and recurring, providing a stable revenue base.

CBIZ has a significant national footprint across the United States, serving over 135,000 clients through more than 160 locations in 22 major markets coast to coast. The company caters to a broad spectrum of clients, from emerging startups to Fortune 1000 companies, as well as high-net-worth individuals and non-profit organizations. The acquisition of Marcum has increased the concentration of its core tax and accounting services in certain high-tax, high-cost U.S. regions. CBIZ also provides services in Canada.

CBIZ maintains a strong brand reputation, particularly within the professional services sector. In 2025, Forbes recognized CBIZ as a Best Employer for New Grads, one of America's Best Large Employers, one of the Most Trusted Companies in America (Tax, Accounting), and one of America's Best Companies (Tax, Accounting). The company was also listed among America's Best Tax and Accounting Firms in 2023. The acquisition of Marcum's non-attest business has solidified CBIZ's position as the seventh-largest accounting firm in the U.S. The client announcement that Applied Digital Corporation ratified CBIZ CPAs P.C. as its independent registered public accounting firm for the next fiscal year also reflects ongoing trust in CBIZ's professional services.

CBIZ, Inc. has a mixed ownership structure, with a significant portion held by institutional investors. Approximately 72.31% to 86.2% of the company's stock is owned by institutional investors. Major Institutional Owners include Vanguard Group Inc. and BlackRock, Inc. Approximately 4.87% of the company's stock is owned by insiders, and 9.78% to 13.04% is owned by public companies and individual investors. Recent insider trading activity shows more shares sold than bought in the past three months.