SCHEDULE: FMR LLC & Abigail Johnson Boost CBIZ Stake to 13.1%

Sentiment:

Beneficial Ownership Report 8 January 2026 9:09 AM

FMR LLC and its Chairman and CEO, Abigail P. Johnson, have reported a combined beneficial ownership of 13.1% of CBIZ Inc.'s common stock as of December 31, 2025.

Summary

FMR LLC and Abigail P. Johnson collectively beneficially own 7,132,906.69 shares of CBIZ Inc. common stock.
This ownership represents 13.1% of the total outstanding common stock of CBIZ Inc.
FMR LLC holds sole voting power over 7,121,423 shares and sole dispositive power over 7,132,906.69 shares.
Abigail P. Johnson, as Director, Chairman, and CEO of FMR LLC, is deemed to beneficially own the same aggregate amount of shares due to her control over FMR LLC.
The ownership is held in the ordinary course of business and not for the purpose of changing or influencing control of CBIZ Inc.
Several FMR LLC subsidiaries, including Fidelity Management & Research Company LLC, are involved in the beneficial ownership, with Fidelity Management & Research Company LLC beneficially owning 5% or greater of the outstanding shares.

Sentiment

Score: 7

Explanation: The filing indicates a significant and stable institutional ownership by FMR LLC and its affiliates, which is generally a positive signal for investor confidence. The explicit statement that the ownership is not for control purposes reduces potential uncertainty regarding corporate governance. However, it's a routine disclosure, not a performance update.

Positives

A significant institutional investor, FMR LLC (Fidelity), maintains a substantial stake in CBIZ Inc., indicating continued confidence in the company.
The filing explicitly states the ownership is for investment purposes in the ordinary course of business, not for hostile takeover or control changes, providing clarity on governance intentions.

Risks

While not explicitly stated as a risk, a large institutional holding could potentially lead to significant share price volatility if the holder decides to reduce its stake substantially.
The concentration of voting power within the Johnson family for FMR LLC means that investment decisions for this large stake are ultimately influenced by a single family group.

Future Outlook

This Schedule 13G filing does not contain any forward-looking statements or guidance regarding CBIZ Inc.'s future performance or operations.

Management Comments

The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities.

Industry Context

The continued significant stake held by FMR LLC, a major global asset manager, in CBIZ Inc. suggests that large institutional investors view CBIZ as a stable or attractive investment within the business services and financial advisory sector. This level of ownership by a prominent investment firm can often be seen as a vote of confidence in the company's long-term strategy and market position.

Stakeholder Impact

Shareholders: The continued significant ownership by a major institutional investor like FMR LLC may provide a sense of stability and confidence. It also means a large block of shares is held by a single entity, which could influence trading liquidity or future strategic decisions if the stake changes.
Management: The filing explicitly states the ownership is not for influencing control, which provides clarity to CBIZ's management regarding FMR LLC's intentions.

Key Dates

Date	Description
2023-01-03	Effective date of Power of Attorney for FMR LLC.
2023-01-10	Date of Schedule 13G filing by FMR LLC where Power of Attorney (accession number: -23-000003) was incorporated by reference.
2023-01-26	Effective date of Power of Attorney for Abigail P. Johnson.
2023-01-31	Date of Schedule 13G filing by FMR LLC where Power of Attorney (accession number: -23-000038) for Abigail P. Johnson was incorporated by reference.
2025-12-31	Date of event which requires filing of this statement (reporting date for beneficial ownership).
2026-01-07	Signature date of the Schedule 13G Amendment No. 1 filing.

Recommendation

hold

This Schedule 13G filing is a routine disclosure of beneficial ownership by FMR LLC and Abigail P. Johnson, confirming their substantial 13.1% stake in CBIZ Inc. The filing explicitly states that the shares are held in the ordinary course of business and not for the purpose of changing or influencing control. While a significant institutional holding can be a positive indicator of long-term confidence, this particular filing does not introduce new information that would fundamentally alter the investment thesis for CBIZ Inc. It merely updates the public record on a known large shareholder. Therefore, a 'hold' recommendation is appropriate, as there's no new catalyst for a 'buy' or 'sell' decision based solely on this filing.

Keywords

CBIZ INC, FMR LLC, Abigail P. Johnson, Beneficial Ownership, Schedule 13G, Institutional Investor, Common Stock, Fidelity, Investment Management

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