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Shares of CBIZ Under Pressure, Down 2.2%

Published on Fri, 04/05/2013 - 10:34
By Peter Chu

Down 2.2% to $6.15, CBIZ (NYSE:CBZ), is one of today's notable movers. The Dow is down 0.9% to 14,469 and the S&P is currently down 1.0% to 1,544.

In the past 52 weeks, CBIZ share prices have been bracketed by a low of $5.07 and a high of $6.63 and are now at $6.15, 21% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.8%.

CBIZ, Inc. provides professional business services to companies throughout the United States. The Company provides accounting and tax, employee benefits, wealth management, property and casualty insurance, payroll, and HR consulting services. CBIZ also provides internal audit, litigation advisory, healthcare consulting, medical practice management, and other services.

There is potential upside of 30.1% for shares of CBIZ based on a current price of $6.15 and an average consensus analyst price target of $8.00. The stock should find resistance at its 50-day moving average (MA) of $6.28, as well as support at its 200-day MA of $5.89.

By Peter Chu
pchu@fnno.com