CBIZ Inc. (CBZ) traded on unusually high volume on Jan. 02, as the stock gained 0.86% to close at $19.87. On the day, CBIZ Inc. saw 347,837 shares trade hands on 2,240 trades. Considering that the stock averages only a daily volume of 192,599 shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $24.38 and $15.40 over the last 52-weeks, its 50-day SMA is now $21.01, and its 200-day SMA $21.40. CBIZ Inc. has a P/B ratio of 1.83. It also has a P/E ratio of 16.3.
CBIZ Inc through its subsidiaries provides professional business services. Its business units have been aggregated into three practice groups: Financial Services, Benefits and Insurance Services and National Practices. The company derives most of its revenues from Financial Services segment and geographically from the United States.
Headquartered in Cleveland, OH, CBIZ Inc. has 4,600 employees and is currently under the leadership of CEO Jerome P. Grisko.