CBIZ, INC.

(CBZ)
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Real-time Estimate Cboe BZX  -  05/18 10:21:18 am EDT
38.74 USD   -2.33%
05/12CBIZ, INC. : Submission of Matters to a Vote of Security Holders (form 8-K)
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05/11INSIDER SELL : Cbiz
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05/06CBIZ, INC. : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)
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CBIZ, Inc. acquired Substantially all of the assets from Marks Paneth LLP for approximately $160 million.

01/10/2022 EDT

CBIZ, Inc. (NYSE:CBZ) acquired Substantially all of the assets from Marks Paneth LLP for approximately $160 million on January 6, 2022. The initial purchase price for the acquisition consisted of approximately $81.25 million in cash paid at closing, subject to a customary working capital adjustment. In addition to the purchase price paid at closing, the purchase agreement also provides for an earnout of up to a maximum of $75.25 million (consisting of cash and shares of CBIZ common stock), which is payable if and to the extent that the future performance of the Acquired Assets following the closing exceeds agreed targets on the each of the first, second and third anniversaries of the closing (the “ Earnout ”). CBIZ agreed to issue up to approximately $7.52 million in its shares of common stock as part of the Earnout (representing 10% of the Earnout). The transaction is expected to add approximately $138 million of revenue to CBIZ in 2022. The transaction is subject to due diligence, regulatory approval and approval under the HSR Act. On a GAAP reported basis the transaction is expected to have minimal impact on earnings per share in 2022, but is expected to be significantly accretive after first year transaction and integration costs are incurred. Ronald A. Stepanovic of Baker & Hostetler LLP acted as legal advisor for CBIZ, Inc. and Russell Shapiro of Levenfeld Pearlstein acted as legal advisor for Marks Paneth in the transaction. CBIZ, Inc. (NYSE:CBZ) completed the acquisition of Substantially all of the assets from Marks Paneth LLP on January 6, 2022.


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All news about CBIZ, INC.
05/12CBIZ, INC. : Submission of Matters to a Vote of Security Holders (form 8-K)
AQ
05/11INSIDER SELL : Cbiz
MT
05/06CBIZ, INC. : Entry into a Material Definitive Agreement, Financial Statements and Exhibits..
AQ
05/06Small Business Hiring Trends Upward in April
BU
05/03CBIZ Announces Winners of the 2022 Women Transforming Business Award
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05/02CBIZ, INC. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF ..
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04/29CBIZ : REPORTS FIRST-QUARTER 2022 RESULTS - Form 8-K
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04/28TRANSCRIPT : CBIZ, Inc., Q1 2022 Earnings Call, Apr 28, 2022
CI
04/28CBIZ Q1 Adjusted EPS, Revenue Climb; Company Reaffirms 2022 Outlook
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04/28CBIZ Investment Advisory Services Named #4 on Barron's List of Top 100 Institutional Co..
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Financials (USD)
Sales 2022 1 321 M - -
Net income 2022 102 M - -
Net Debt 2022 - - -
P/E ratio 2022 20,6x
Yield 2022 -
Capitalization 2 054 M 2 054 M -
Capi. / Sales 2022 1,55x
Capi. / Sales 2023 1,48x
Nbr of Employees 6 000
Free-Float 36,6%
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Mean consensus BUY
Number of Analysts 3
Last Close Price 39,66 $
Average target price 49,50 $
Spread / Average Target 24,8%
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Managers and Directors
Jerome P. Grisko Vice President-Mergers & Acquisitions
Ware H. Grove Chief Financial Officer & Senior Vice President
Rick L. Burdick Chairman
John Aaron Fleischer Chief Information Officer & Senior Vice President
Richard E. Mills Chief Operating Officer-Financial Services
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