Bank of New York Mellon Corp lifted its position in shares of HMS Holdings Corp (NASDAQ:HMSY) by 49.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,723,768 shares of the business services provider’s stock after acquiring an additional 572,442 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.05% of HMS worth $34,235,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in HMSY. Aperio Group LLC raised its position in shares of HMS by 6.1% during the second quarter. Aperio Group LLC now owns 24,658 shares of the business services provider’s stock worth $456,000 after acquiring an additional 1,426 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of HMS by 2.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 19,730 shares of the business services provider’s stock worth $365,000 after acquiring an additional 390 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of HMS by 30.8% during the second quarter. Janney Montgomery Scott LLC now owns 28,441 shares of the business services provider’s stock worth $526,000 after acquiring an additional 6,694 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of HMS by 4.5% during the second quarter. Great West Life Assurance Co. Can now owns 122,272 shares of the business services provider’s stock worth $2,261,000 after acquiring an additional 5,236 shares during the last quarter. Finally, Texas Permanent School Fund raised its position in shares of HMS by 1.2% during the second quarter. Texas Permanent School Fund now owns 61,245 shares of the business services provider’s stock worth $1,133,000 after acquiring an additional 751 shares during the last quarter. Institutional investors own 96.27% of the company’s stock.
In related news, Chairman William C. Lucia sold 29,894 shares of the company’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $20.00, for a total value of $597,880.00. Following the completion of the sale, the chairman now owns 222,745 shares in the company, valued at $4,454,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.20% of the company’s stock.
Shares of HMS Holdings Corp (NASDAQ HMSY) opened at $16.42 on Friday. The company has a market capitalization of $1,374.77, a PE ratio of 31.44, a P/E/G ratio of 2.72 and a beta of 0.87. HMS Holdings Corp has a fifty-two week low of $11.01 and a fifty-two week high of $20.90.
HMS (NASDAQ:HMSY) last released its quarterly earnings data on Friday, November 3rd. The business services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). The company had revenue of $125.70 million during the quarter, compared to the consensus estimate of $147.62 million. HMS had a net margin of 4.94% and a return on equity of 7.93%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 EPS. equities analysts expect that HMS Holdings Corp will post 0.55 earnings per share for the current fiscal year.
HMS announced that its board has approved a share repurchase plan on Friday, November 3rd that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
A number of research firms have recently weighed in on HMSY. BidaskClub upgraded HMS from a “sell” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company restated an “outperform” rating and set a $20.00 target price (down previously from $25.50) on shares of HMS in a research report on Wednesday, November 29th. Canaccord Genuity dropped their target price on HMS from $22.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, November 6th. Jefferies Group restated a “neutral” rating on shares of HMS in a research report on Sunday, November 5th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $16.00 target price on shares of HMS in a research report on Sunday, November 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $20.39.
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HMS Holdings Corp. is a holding company. The Company, through its subsidiaries, operates in the United States healthcare insurance benefit cost containment marketplace. It provides coordination of benefits services to government, and private healthcare payers and sponsors. Its payment integrity services ensure that healthcare claims billed are accurate and appropriate.
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